Estate of Avery v. Commissioner
United States Tax Court
1. The decedent's will left the residue of his estate to the widow, son, and daughter in equal shares and directed that estate and inheritance taxes be paid out of the general assets and not be charged against or deducted from any bequest. Held, in computing the marital deduction the value of the widow's share of the residue is to be computed after deduction of such taxes. 2. A widow's allowance of $ 12,000 was authorized by the probate court and paid in a lump sum.
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1. The decedent's will left the residue of his estate to the widow, son, and daughter in equal shares and directed that estate and inheritance taxes be paid out of the general assets and not be charged against or deducted from any bequest. Held, in computing the marital deduction the value of the widow's share of the residue is to be computed after deduction of such taxes. 2. A widow's allowance of $ 12,000 was authorized by the probate court and paid in a lump sum. There were no minor children. Held, under Missouri law the widow's allowance was not a terminable interest. 3. The decedent…
1Opinion of the Court
BRuce, Judge:
The respondent determined a deficiency in estate tax in the amount of $10,239.47. Three issues are presented for decision: (1) Whether for purposes of computing the marital deduction the one-third share of the residue of the property passing to the widow under the will must be reduced by one-third of the Federal estate and State inheritance taxes chargeable to the estate; (2) whether a widow’s allowance paid by order of the probate court qualifies as part of the marital deduction; and (3) whether U.S. savings bonds, series E, registered in coownership form in the name of the…
2Cases cited27 opinions
- Riggs v. Del DragoSupreme Court of the United States · 1942
- Harrison v. Northern Trust Co.Supreme Court of the United States · 1943
- Interstate Commerce Commission v. Central Vermont Railway, Inc.Supreme Court of the United States · 1961
- Estate of Edward F. Pipe, Deceased, Nettie M. Pipe v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1957
- Pipe v. CommissionerUnited States Tax Court · 1954
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3Cited by20 opinions
- Chrysler v. CommissionerUnited States Tax Court · 1965
- Estate of Jack F. Chrysler, Edith B. Carr, John W. Drye, Jr. And Manufacturers Hanover Trust Company, Executors v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1966
- Hamilton National Bank of Knoxville, of the Estate of John Edd Bradley v. United StatesCourt of Appeals for the Sixth Circuit · 1965
- Estate of Steffke v. CommissionerUnited States Tax Court · 1975
- Wilson v. Comm'rUnited States Tax Court · 1971
15 more not listed; retrieve them via the Exa API.