Estate of Margrave v. Commissioner
United States Tax Court
Decedent's spouse applied for and owned an insurance policy on the life of the decedent, naming the trustee of a revocable trust created by the decedent as beneficiary. Upon decedent's death, the proceeds were paid to the trustee. Held, decedent did not possess any incident of ownership with respect to such life insurance policy. Held, further, he did not possess a power of appointment over the policy or the proceeds thereof.
1Opinion of the Court
Tannenwald, Judge:
Respondent determined a deficiency of $11,176.45 in the estate tax of petitioner, subject to credit for State death taxes paid. The issue is whether the gross estate of decedent should include the proceeds of an insurance policy on the life of decedent.
FINDINGS OF FACT
Some of the facts have been stipulated. The stipulation of facts and the exhibits attached thereto are incorporated herein by this reference.
Decedent, Robert B. Margrave, died testate on April 29,1973. At his death, he resided in Omaha, Nebr. His last will and testament, dated June 16,1966, was admitted to…
2Cases cited39 opinions
- United States v. MichelSupreme Court of the United States · 1931
- United States v. JacobsSupreme Court of the United States · 1939
- United States v. Rhode Island Hospital Trust CompanyCourt of Appeals for the First Circuit · 1966
- Estate of J. William Bahen, Deceased, Kathleen Privett Bahen, Sole v. The United StatesUnited States Court of Claims · 1962
- Dimock v. CorwinCourt of Appeals for the Second Circuit · 1938
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3Cited by3 opinions
- Michael D. Lee v. the Rogers Agency, C. Michael Rogers, and New York Life Insurance Company, Texas Court of Appeals, 6th District (Texarkana)2016
- Estate of Henry v. CommissionerUnited States Tax Court · 1987
- Estate of Margrave v. CommissionerUnited States Tax Court · 1978