Jacobs v. Commissioner
United States Board of Tax Appeals
The decedent by an antenuptial contract provided for payment to his wife upon his death of $75,000 out of his estate in lieu of dower and other martial rights, in case she survived him. After his death the widow accepted a bequest in trust for her benefit under the provisions of the decedent's will in lieu of and in full satisfaction of any claim she might have against the estate under the marriage contract.
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The decedent by an antenuptial contract provided for payment to his wife upon his death of $75,000 out of his estate in lieu of dower and other martial rights, in case she survived him. After his death the widow accepted a bequest in trust for her benefit under the provisions of the decedent's will in lieu of and in full satisfaction of any claim she might have against the estate under the marriage contract. Held that in these circumstances the $75,000 was not an allowable deduction from the gross estate of the decedent.
1Opinion of the Court
*640OPINION.
Littleton :
It is insisted upon behalf of the executors that the amount of $75,000 constituted a debt of the decedent and such a claim against the estate of the decedent as is allowable by the law of Missouri.
Section 403 (a) (1) of the Kevenue Act of 1921 provides that for the purpose of the tax the value of the net estate shall be determined by deducting from the value of the gross estate “ Such amounts for * * * claims against the estate, * * * as are allowed by the laws of the jurisdiction, * * * under which the estate is being administered.”
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2Cases cited15 opinions
- In Re the Transfer Tax Upon the Estate of DowsNew York Court of Appeals · 1901
- Johnston v. . SpicerNew York Court of Appeals · 1887
- In re the Appraisal of the Property of BakerAppellate Division of the Supreme Court of the State of New York · 1903
- Hegeman v. . MoonNew York Court of Appeals · 1892
- Peck v. . VandemarkNew York Court of Appeals · 1885
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