Pacific National Bank v. Supervisor of the Inheritance Tax Division

This case is before the court to review a judgment approving a determination made by the inheritance tax and escheat division that the proceeds of “single premium life policies” were not insurance exemptions provided in Rem. Rev. Stat. (Sup.), § 11211b [P.P.C. § 974-15]. The appellant is the executor of the will of Eva B. Smiley, deceased, and the respondent is the supervisor of the inheritance tax and escheat division.

On September 28, 1935, Eva B. Smiley deposited with The Equitable Life Assurance Society of the United States the *865sum of $18,770 and received what was designated a single…