Estate of Milliken v. Commissioner
United States Tax Court
Pursuant to a will and a trust instrument executed on the same day, the decedent provided for the establishment of a marital deduction trust at his death to be carved out of the foregoing trust and to be funded with property equal in value to one-half of his adjusted gross estate for Federal estate tax purposes, less the value of property passing outright to his widow.
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Pursuant to a will and a trust instrument executed on the same day, the decedent provided for the establishment of a marital deduction trust at his death to be carved out of the foregoing trust and to be funded with property equal in value to one-half of his adjusted gross estate for Federal estate tax purposes, less the value of property passing outright to his widow. Held: Decedent's will and related trust instrument, interpreted in accordance with standards of Massachusetts law as expounded by the Supreme Judicial Court of Massachusetts, require Massachusetts inheritance taxes in respect…
1Opinion of the Court
OPINION
Raum, Judge:
The Commissioner determined a deficiency in petitioner’s Federal estate tax of $46,572.47. After concessions, the only issue is whether, for purposes of the marital deduction under section 2056, I.R.C. 1954, the value of property in and passing into a marital deduction trust must be reduced by reason of Massachusetts State inheritance taxes on the future interests in that trust which will become payable upon the death of decedent’s spouse, the life tenant of that trust.1 The answer is in the negative if the testamentary documents here involved are to be interpreted, taking…
2Cases cited9 opinions
- Commissioner v. Estate of BoschSupreme Court of the United States · 1967
- Putnam v. PutnamMassachusetts Supreme Judicial Court · 1974
- Mazzola v. MyersMassachusetts Supreme Judicial Court · 1973
- Babson v. BabsonMassachusetts Supreme Judicial Court · 1977
- Boston Safe Deposit and Trust Company v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1965
4 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Estate of Richardson v. CommissionerUnited States Tax Court · 1987
- Estate of Reid v. CommissionerUnited States Tax Court · 1988
- Estate of Cline v. CommissionerUnited States Tax Court · 1982
- Estate of Milliken v. CommissionerUnited States Tax Court · 1978
- Estate of Raisler v. CommissionerUnited States Tax Court · 1987
2 more not listed; retrieve them via the Exa API.