Welliver v. Commissioner
United States Tax Court
1. The proceeds of an individual policy of life insurance taken out by an employee under the terms of the employer's group insurance contract, held, includible in full in the deceased employee's gross estate under section 811 (g) (2), Internal Revenue Code, as amended by section 404 (a), Revenue Act of 1942, because, (a) the decedent possessed at death the right to change the beneficiary, an incident of ownership; and (b) the decedent paid directly or indirectly all…
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1. The proceeds of an individual policy of life insurance taken out by an employee under the terms of the employer's group insurance contract, held, includible in full in the deceased employee's gross estate under section 811 (g) (2), Internal Revenue Code, as amended by section 404 (a), Revenue Act of 1942, because, (a) the decedent possessed at death the right to change the beneficiary, an incident of ownership; and (b) the decedent paid directly or indirectly all premiums, that portion of such premiums paid by the employer on the individual's policy being deemed compensation for services.…
1Opinion of the Court
OPINION.
Johnson, Judge’.
The estate of Judson C. Welliver comprised a policy of insurance issued to the decedent by the Equitable Life Assurance Society pursuant to a policy for group life insurance taken out by decedent’s employer, the Sun Oil Co., on the lives of its employees. Under the terms of the policy $20,000 was payable and was paid after decedent’s death to his widow, whom he had designated as beneficiary. He had the right at all times to change the beneficiary. While the policy was in force, the Sun Oil Co. paid all premiums for insurance under it in the amount of $1,000, and paid…
2Cases cited5 opinions
- Chase National Bank v. United StatesSupreme Court of the United States · 1929
- United States v. RyersonSupreme Court of the United States · 1941
- Lang v. CommissionerSupreme Court of the United States · 1938
- Maass v. HigginsSupreme Court of the United States · 1941
- Igleheart v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1935
3Cited by22 opinions
- Saxton v. CommissionerUnited States Tax Court · 1949
- Morrow v. CommissionerUnited States Tax Court · 1953
- Du Pont v. CommissionerUnited States Tax Court · 1952
- Walker v. CommissionerUnited States Tax Court · 1947
- Brous v. CommissionerUnited States Tax Court · 1948
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