Estate of Leach v. Commissioner
United States Tax Court
Prior to her death, decedent transferred common stock to three charitable remainder annuity trusts. Pursuant to the trust agreements, these trusts were to pay annuities to decedent for life and then to her husband, if he survived her. Upon the death of the last to die, remaining trust assets were to be distributed to charitable remaindermen designated in decedent's will.
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Prior to her death, decedent transferred common stock to three charitable remainder annuity trusts. Pursuant to the trust agreements, these trusts were to pay annuities to decedent for life and then to her husband, if he survived her. Upon the death of the last to die, remaining trust assets were to be distributed to charitable remaindermen designated in decedent's will. Decedent's will provided that an amount equal to 50 percent of her adjusted gross estate would be left to a marital trust, it being her stated desire to obtain the maximum marital deduction allowable. The will provided that…
1Opinion of the Court
OPINION
Swift, Judge:
Respondent, in statutory notices mailed to petitioner on November 7, 1980, determined a deficiency in petitioner’s Federal estate tax liability of $740,937, and deficiencies in petitioner’s Federal income tax liabilities of $102 for 1977 and $18,712 for 1978.
Following concessions by the parties, the issues remaining for decision are (1) whether certain, annuities, payable by three charitable remainder annuity trusts, qualify for the marital deduction pursuant to section 2056 of the Internal Revenue Code,1 and (2) if it is held that the annuities do not qualify for the…
2Cases cited23 opinions
- Riggs v. Del DragoSupreme Court of the United States · 1942
- Ingram v. United StatesSupreme Court of the United States · 1959
- Hagerty v. HagertySupreme Court of Florida · 1951
- Lederer v. Fidelity Trust Co.Supreme Court of the United States · 1925
- Wells v. MennSupreme Court of Florida · 1946
18 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Estate of Fine v. CommissionerUnited States Tax Court · 1988
- Estate of Brunetti v. CommissionerUnited States Tax Court · 1988
- Estate of Sommers v. Comm'rUnited States Tax Court · 2013
- Van Alen v. Comm'rUnited States Tax Court · 2013
- Estate of Baker v. CommissionerUnited States Tax Court · 1988
4 more not listed; retrieve them via the Exa API.