O'Nan v. Commissioner
United States Tax Court
Real estate was transferred by decedent to his wife, decedent retaining a life interest, pursuant to a predivorce property settlement agreement which was set forth and approved by the court in its divorce decree entered almost immediately thereafter. The wife was entitled to an equitable share in the husband's property, under the laws of the State of Kentucky, where the divorce was obtained.
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Real estate was transferred by decedent to his wife, decedent retaining a life interest, pursuant to a predivorce property settlement agreement which was set forth and approved by the court in its divorce decree entered almost immediately thereafter. The wife was entitled to an equitable share in the husband's property, under the laws of the State of Kentucky, where the divorce was obtained. Held, the transfer of such real estate to the wife was for an adequate and full consideration in money or money's worth within the meaning of sec. 2036, I.R.C. 1954, and the value thereof is not…
1Opinion of the Court
Hoyt, Judge:
This proceeding involves an estate tax deficiency of $46,048.12. The question in issue is whether there should be included in decedent’s gross estate the value of certain real estate consisting of farmlands which decedent conveyed to his wife under a property settlement agreement made at the time of the wife’s filing of a suit for divorce. If that question is decided affirmatively, there is a further question as to valuation of the properties.
FINDINGS OF FACT
Some of the facts have been stipulated and are found accordingly and incorporated herein by this reference.
The decedent,…
2Cases cited45 opinions
- Estate of Sanford v. CommissionerSupreme Court of the United States · 1939
- Commissioner v. WilcoxSupreme Court of the United States · 1946
- United States v. DavisSupreme Court of the United States · 1962
- Merrill v. FahsSupreme Court of the United States · 1945
- Harris v. CommissionerSupreme Court of the United States · 1950
40 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Hensel Phelps Constr. Co. v. CommissionerUnited States Tax Court · 1980
- Munderloh v. CommissionerUnited States Tax Court · 1967
- Estate of Carli v. Comm'rUnited States Tax Court · 1985
- Pope v. United StatesDistrict Court, S.D. California · 1968
- Larson v. CommissionerUnited States Tax Court · 1988
6 more not listed; retrieve them via the Exa API.