Estate of Preisser v. Commissioner
United States Tax Court
Decedent died owing $ 210,615.97. His last will directed that all his debts be paid as soon as practicable after his death from his residuary estate. His residuary estate passed to his surviving spouse and formed the basis of his estate's marital deduction. Held, decedent's $ 210,615.97 debt was an obligation of his residuary estate. In re Cline's Estate, 170 Kan. 496, 227 P.2d 157 (1951), followed. Held, further, the $ 210,615.97 debt reduces the estate's marital deduction.
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Decedent died owing $ 210,615.97. His last will directed that all his debts be paid as soon as practicable after his death from his residuary estate. His residuary estate passed to his surviving spouse and formed the basis of his estate's marital deduction. Held, decedent's $ 210,615.97 debt was an obligation of his residuary estate. In re Cline's Estate, 170 Kan. 496, 227 P.2d 157 (1951), followed. Held, further, the $ 210,615.97 debt reduces the estate's marital deduction. Sec. 2056(a), I.R.C. 1954; sec. 20.2056(b)-4(b), Estate Tax Regs.
1Opinion of the Court
Estate of Casper W. Preisser, Deceased, W.D. Preisser, Executor, Petitioner v. Commissioner of Internal Revenue, Respondent
Estate of Preisser v. Commissioner
Docket No. 37797-86
United States Tax Court
90 T.C. 767; 1988 U.S. Tax Ct. LEXIS 49; 90 T.C. No. 50;
April 21, 1988. April 21, 1988, Filed
Decision will be entered for the respondent.
Decedent died owing $ 210,615.97. His last will directed that all his debts be paid as soon as practicable after his death from his residuary estate. His residuary estate passed to his surviving spouse and formed the basis of his estate's marital deduction. Held,…
2Cases cited4 opinions
- Commissioner v. Estate of BoschSupreme Court of the United States · 1967
- In Re Estate of ClineSupreme Court of Kansas · 1951
- Estate of Harmon v. CommissionerUnited States Tax Court · 1985
- Estate of Preisser v. CommissionerUnited States Tax Court · 1988