Perkins v. Commissioner
United States Tax Court
1. Petitioner was married prior to 1919, and has resided continuously since that time in Texas. In 1924 he obtained a policy of life insurance upon his own life, payable to his estate. All of the premiums upon this policy were paid prior to March 8, 1939, by petitioner from community funds. On March 8, 1939, petitioner made a gift of the policy to his wife.
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1. Petitioner was married prior to 1919, and has resided continuously since that time in Texas. In 1924 he obtained a policy of life insurance upon his own life, payable to his estate. All of the premiums upon this policy were paid prior to March 8, 1939, by petitioner from community funds. On March 8, 1939, petitioner made a gift of the policy to his wife. Held, under Texas law, the cash surrender value of the policy was community property and thus the gift to the wife was only one-half of the value of the policy. Berdoll v. Berdoll, 145 S. W. (2d) 227. R. L. Blaffer, 38 B. T. A. 632; affd.…
1Opinion of the Court
Joe J. Perkins, Petitioner, v. Commissioner of Internal Revenue, Respondent
Perkins v. Commissioner
Docket No. 109839
United States Tax Court
1 T.C. 982; 1943 U.S. Tax Ct. LEXIS 180;
April 20, 1943, Promulgated
Decision will be entered under Rule 50.
1. Petitioner was married prior to 1919, and has resided continuously since that time in Texas. In 1924 he obtained a policy of life insurance upon his own life, payable to his estate. All of the premiums upon this policy were paid prior to March 8, 1939, by petitioner from community funds. On March 8, 1939, petitioner made a gift of the policy to his…
2Cases cited11 opinions
- Martin v. McAllisterTexas Supreme Court · 1901
- Martin v. MoranCourt of Appeals of Texas · 1895
- Jones v. JonesCourt of Appeals of Texas · 1912
- Rowlett v. MitchellCourt of Appeals of Texas · 1908
- Russell v. RussellCourt of Appeals of Texas · 1934
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