Estate of Dancy v. Commissioner
United States Tax Court
D's executor, on her behalf, undertook to renounce and disclaim her survivorship rights in certain personal property which D had acquired as joint tenant with right of survivorship from her husband, who had predeceased her by 8 days. Such interests were excluded from D's Federal estate tax return.
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D's executor, on her behalf, undertook to renounce and disclaim her survivorship rights in certain personal property which D had acquired as joint tenant with right of survivorship from her husband, who had predeceased her by 8 days. Such interests were excluded from D's Federal estate tax return. Held: 1. The disclaimers were invalid for Federal estate tax purposes because they were invalid under applicable State law (North Carolina). 2. As to joint interests created after Dec. 31, 1981, the disclaimers did not qualify under the provisions of sec. 2518(c)(3), I.R.C. 1954, so as to avoid the…
1Opinion of the Court
Korner, Judge:
Respondent determined a deficiency in petitioner’s Federal estate tax in the amount of $70,173.22. After concessions by both sides, the issue which we must decide is whether petitioner’s executor, on behalf of Josephine O’Meara Dancy, deceased, made a qualified disclaimer, for Federal estate tax purposes, with respect to certain undivided interests which decedent owned as joint tenant, with rights of survivorship, at the time of the death of her husband (who predeceased her) in certain stocks and bonds, certificates of deposit, and a money market fund.
FINDINGS OF FACT
Petitioner…
2Cases cited16 opinions
- Commissioner v. Estate of BoschSupreme Court of the United States · 1967
- Jewett v. CommissionerSupreme Court of the United States · 1982
- Commissioner of Internal Revenue v. ProcterCourt of Appeals for the Fourth Circuit · 1944
- Lois P. Cottrell v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1980
- McDonald v. CommissionerUnited States Tax Court · 1987
11 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Estate of Bennett v. CommissionerUnited States Tax Court · 1993
- Estate of Josephine O'Meara Dancy, Deceased, John J. Peck v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1989
- Delaune v. United StatesCourt of Appeals for the Fifth Circuit · 1998
- Estate of Allen v. CommissionerUnited States Tax Court · 1989
- Longue Vue Foundation v. CommissionerUnited States Tax Court · 1988
4 more not listed; retrieve them via the Exa API.