Estate of Kurz v. Commissioner
United States Tax Court
Decedent had the right to consume the principal of the marital trust fund. In the event the principal of the marital trust fund was completely exhausted, decedent had the right each year to consume up to 5 percent of the principal of the family trust fund. At the time of decedent's death, the principal of the marital trust fund had not been completely exhausted.
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Decedent had the right to consume the principal of the marital trust fund. In the event the principal of the marital trust fund was completely exhausted, decedent had the right each year to consume up to 5 percent of the principal of the family trust fund. At the time of decedent's death, the principal of the marital trust fund had not been completely exhausted. Respondent argues that property subject to any contingent general power of appointment otherwise includable under sec. 2041, I.R.C., should be included in a decedent's estate unless the event or contingency is beyond the decedent's…
1Opinion of the Court
Parker, Judge:
Respondent determined a deficiency of $311,570.88 in petitioner’s Federal estate tax. Petitioner claims an overpayment in estate tax in the amount of $25,414. The issue is whether, at the time of her death, Ethel H. Kurz (decedent) had a general power of appointment over a portion of a family trust that would cause such portion of the trust to be included in her gross estate under section 2041(a)(2).
Unless otherwise indicated, all section references are to the Internal Revenue Code in effect for the date of decedent’s death, and all Rule references are to the Tax Court Rules of…
2Cases cited9 opinions
- Porter v. CommissionerSupreme Court of the United States · 1933
- United States v. FieldSupreme Court of the United States · 1921
- Commissioner v. Estate of HolmesSupreme Court of the United States · 1946
- Heiner v. TindleSupreme Court of the United States · 1928
- Estate of Fannie Alperstein, Deceased, Rosalind A. Greenberg, Administratrix v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1979
4 more not listed; retrieve them via the Exa API.
3Cited by15 opinions
- Peterson Marital Trust v. CommissionerUnited States Tax Court · 1994
- Estate of Gerson v. CommissionerCourt of Appeals for the Sixth Circuit · 2007
- Estate of Ethel H. Kurz, by First National Bank of Chicago v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1995
- Estate of Gerson v. Comm'rUnited States Tax Court · 2006
- Simpson v. United StatesDistrict Court, W.D. Missouri · 1998
10 more not listed; retrieve them via the Exa API.