Estate of Chaddock v. Commissioner
United States Tax Court
Held: The issuance of stock, property of the community, to the decedent and her husband as joint tenants with the right of survivorship did not, under Texas community property law, prevent ownership of one-half of such stock from vesting in the petitioner (the heir at law) upon the death of decedent's husband.
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Held: The issuance of stock, property of the community, to the decedent and her husband as joint tenants with the right of survivorship did not, under Texas community property law, prevent ownership of one-half of such stock from vesting in the petitioner (the heir at law) upon the death of decedent's husband. Notwithstanding that such stock was registered in the name of the decedent, after the death of her husband, and that she received all dividends thereon until her death, one-half the value of such stock was at all times the property of petitioner and was not includable in the gross…
1Opinion of the Court
OPINION
The issue is whether the 1,645 shares of stock which decedent held in her name at the time of her death on January 29,1965, were her own property so as to be includable in her gross estate under section 2033.2
There is a presumption of correctness in the respondent’s determination of a deficiency, and the burden of proof is on the petitioner to show that the decedent did not own the stock in question at the time of her death.
It is well established that State law is determinative of the rights and interests in property subject to the Federal estate tax, e.g., Morgan v. Commissioner, 309…
2Cases cited14 opinions
- Morgan v. CommissionerSupreme Court of the United States · 1940
- Hilley v. HilleyTexas Supreme Court · 1961
- Pollard v. SteffensTexas Supreme Court · 1961
- White v. WhiteTexas Supreme Court · 1944
- Williams v. McKnightTexas Supreme Court · 1966
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3Cited by1 opinion
- Estate of Chaddock v. CommissionerUnited States Tax Court · 1970