Estate of Smith v. Commissioner
United States Tax Court
Held, surviving spouse's interest qualifies as a life estate with power of appointment under sec. 2056(b)(5), I.R.C. 1954. Held, further, surviving spouse's power was exercisable alone and in all events as required by sec. 2056(b)(5), I.R.C. 1954. Accordingly, decedent's bequest qualifies for the marital deduction under sec. 2056(a), I.R.C. 1954.
1Opinion of the Court
Estate of Helen Longsworth Smith, Metropolitan Bank of Lima, Ohio, Executor, Petitioner v. Commissioner of Internal Revenue, Respondent
Estate of Smith v. Commissioner
Docket No. 18290-80
United States Tax Court
79 T.C. 974; 1982 U.S. Tax Ct. LEXIS 9; 79 T.C. No. 61;
December 2, 1982, Filed
Decision will be entered for the petitioner.
Held, surviving spouse's interest qualifies as a life estate with power of appointment under sec. 2056(b)(5), I.R.C. 1954. Held, further, surviving spouse's power was exercisable alone and in all events as required by sec. 2056(b)(5), I.R.C. 1954. Accordingly,…
2Cases cited9 opinions
- Morgan v. CommissionerSupreme Court of the United States · 1940
- Tax Commission v. OswaldOhio Supreme Court · 1923
- T. Everett Starrett v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1955
- Tingley v. CommissionerUnited States Tax Court · 1954
- Findley v. City of ConneautOhio Supreme Court · 1945
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