Roy v. Commissioner
United States Tax Court
The decedent in transferring certain property in trust for his father retained a reversionary interest. The state of the decedent's health immediately prior to his death indicated an exceedingly short life expectancy, which if considered would bring his reversionary interest below 5 percent for purposes of sec. 2037(a)(2), I.R.C. 1954. Held, the value of the reversionary interest for purposes of sec. 2037(a)(2) is to be determined by the applicable mortality tables; the…
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The decedent in transferring certain property in trust for his father retained a reversionary interest. The state of the decedent's health immediately prior to his death indicated an exceedingly short life expectancy, which if considered would bring his reversionary interest below 5 percent for purposes of sec. 2037(a)(2), I.R.C. 1954. Held, the value of the reversionary interest for purposes of sec. 2037(a)(2) is to be determined by the applicable mortality tables; the decedent's state of health must be disregarded.
1Opinion of the Court
OPINION
Section 2037(a) provides for inclusion in the decedent’s gross estate of property which the decedent has transferred if two conditions are met:(1) possession or enjoyment of the property can, through ownership of such interest, be obtained only by surviving the decedent, and(2) the decedent has retained a reversionary interest in the property * * * and the value of such reversionary interest immediately before the death of the decedent exceeds 5 percent of the value of such property.
The question presented herein concerns only the second of these conditions, more specifically, whether…
2Cases cited13 opinions
- Commissioner v. South Texas Lumber Co.Supreme Court of the United States · 1948
- Sunshine Anthracite Coal Co. v. AdkinsSupreme Court of the United States · 1940
- Bingler v. JohnsonSupreme Court of the United States · 1969
- Robinette v. HelveringSupreme Court of the United States · 1943
- Estate of Spiegel v. CommissionerSupreme Court of the United States · 1949
8 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Matut v. CommissionerUnited States Tax Court · 1986
- Estate of Allen v. United StatesUnited States Court of Claims · 1977
- Estate of Little v. CommissionerUnited States Tax Court · 1986
- Manufacturers Hanover Trust Co. v. United StatesDistrict Court, S.D. New York · 1983
- Kent Robinson v. The United States of AmericaCourt of Appeals for the Ninth Circuit · 1980
4 more not listed; retrieve them via the Exa API.