Estate of Drake v. Commissioner
United States Tax Court
Held: (1) When decedent transferred property to herself and her husband as joint tenants with right of survivorship in contemplation of death, the value of the property is includable in her gross estate even though decedent many years prior received the property as a gift from her husband who paid the full consideration for it; and (2) agreement of decedent and her brothers and sisters to make a will and not to change it without consent of all living parties to the agreement…
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Held: (1) When decedent transferred property to herself and her husband as joint tenants with right of survivorship in contemplation of death, the value of the property is includable in her gross estate even though decedent many years prior received the property as a gift from her husband who paid the full consideration for it; and (2) agreement of decedent and her brothers and sisters to make a will and not to change it without consent of all living parties to the agreement caused a pre-Oct. 21, 1942, general power of appointment by will, granted to decedent with respect to a trust interest,…
1Opinion of the Court
Estate of Elena B. Drake, Deceased, Shawmut Bank of Boston, N.A., Executor, Petitioner v. Commissioner of Internal Revenue, Respondent
Estate of Drake v. Commissioner
Docket No. 8080-74
United States Tax Court
67 T.C. 844; 1977 U.S. Tax Ct. LEXIS 145;
February 28, 1977, Filed
Decision will be entered under Rule 155.
Held: (1) When decedent transferred property to herself and her husband as joint tenants with right of survivorship in contemplation of death, the value of the property is includable in her gross estate even though decedent many years prior received the property as a gift from her…
2Cases cited16 opinions
- Bulova Watch Co. v. United StatesSupreme Court of the United States · 1961
- United States v. JacobsSupreme Court of the United States · 1939
- United States v. O'MALLEYSupreme Court of the United States · 1966
- Igleheart v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1935
- Sullivan's Estate v. Commissioner of Internal Rev.Court of Appeals for the Ninth Circuit · 1949
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