Estate of James H. Lumpkin, Jr., Deceased. Christine T. Hamilton v. Commissioner of Internal Revenue

GEWIN, Circuit Judge:

This federal estate tax ease squarely presents the question of whether an employee who under the provisions of a group term life insurance policy is given nothing more than the right to alter the time and manner of enjoyment of the proceeds possesses an “incident of ownership” with respect to that policy so that at his death the value of the proceeds must be included in his gross estate under § 2042 of the Internal Revenue Code of 1954. 1 Decedent, James H. Lumpkin, Jr., died on March 15, 1964. After his estate’s tax return was received, the Commissioner of Internal…