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Articles 1201 - 1230 of 1409

Full-Text Articles in Taxation-Federal Estate and Gift

Taxation-Federal Estate Tax-Application Of Section 2039 To Benefits Paid To Survivor Under A Deferred Compensation Plan, T. K. Carroll Apr 1963

Taxation-Federal Estate Tax-Application Of Section 2039 To Benefits Paid To Survivor Under A Deferred Compensation Plan, T. K. Carroll

Michigan Law Review

Upon decedent's death, his former employer made certain payments to the surviving widow under two voluntarily established benefit plans which were unfunded and non-qualified. The first of these arrangements, the death benefit plan, provided for three months' salary to be paid to an employee's widow, if the employee died before becoming eligible for retirement. The second, the deferred compensation plan, provided payment of a certain stated maximum to an employee's widow in sixty equal monthly installments. This was not a retirement program, however, since the employee himself would receive these payments if, and only if, he were ever to become …

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Inequities In Corporate Payments To Widows Apr 1963

Inequities In Corporate Payments To Widows

Indiana Law Journal

No abstract provided.

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Death Benefit Payments To Widows Of Deceased Corporate Employees - Gift Or Income? - Poyner V. C.I.R., Barry D. Berman Jan 1963

Death Benefit Payments To Widows Of Deceased Corporate Employees - Gift Or Income? - Poyner V. C.I.R., Barry D. Berman

Maryland Law Review

No abstract provided.

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Taxation-Federal Income Tax-Divocrce Property Settlement As A Taxable Event, Martin B. Dickinson Jr., S.Ed. Jan 1963

Taxation-Federal Income Tax-Divocrce Property Settlement As A Taxable Event, Martin B. Dickinson Jr., S.Ed.

Michigan Law Review

Respondent taxpayer transferred stock to his former wife pursuant to a voluntary property settlement agreement incorporated in their divorce decree. As consideration for the securities conveyed, his wife released her rights to alimony, dower, and intestate succession under Delaware law. The Commissioner of Internal Revenue assessed as taxable gain the difference between the taxpayer's basis for the stock and its market value at the time of the transfer, but the Court of Claims ruled that the taxpayer realized no taxable gain from the transfer. On certiorari, held, reversed. The exchange was a taxable event in which the taxpayer received …

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In Contemplation Of Death, Hendrick Machoian Jan 1963

In Contemplation Of Death, Hendrick Machoian

Cleveland State Law Review

The phrase "in contemplation of death" is used in connection with gifts in federal estate tax law' and in connection with gifts causa mortis at common law. The purpose of this paper is to determine the difference, if any, between the scope of the phrase for federal estate tax purposes and the scope of the phrase for purposes of gifts causa mortis.

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Estate Planning Session, H. Brice Graves, W. Gibson Harris, Toy D. Savage Jr. Dec 1962

Estate Planning Session, H. Brice Graves, W. Gibson Harris, Toy D. Savage Jr.

William & Mary Annual Tax Conference

No abstract provided.

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Taxation—Apportionment Of Estate Taxes Among Individual And Charitable Legatees, Walter W. Miller Jr. Oct 1962

Taxation—Apportionment Of Estate Taxes Among Individual And Charitable Legatees, Walter W. Miller Jr.

Buffalo Law Review

In the Matter of the Will of Shubert, 10, N.Y.2d 461, 180 N.E.2d 410, 225 N.Y.S. 2d 13 (1962).

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Federal Estate And State Inheritance Tax Aspects Of The Family Allowance, The Homestead, And The In Lieu Of Homestead Awards, Donna Berg Sep 1962

Federal Estate And State Inheritance Tax Aspects Of The Family Allowance, The Homestead, And The In Lieu Of Homestead Awards, Donna Berg

Washington Law Review

Petitions for setting aside the homestead or for an award in lieu of homestead are relatively common, and the family allowance is often requested. The availability of family support payments as deductions from the decedent's estate for federal estate and state inheritance tax purposes will be considered in this Comment. Their deductibility vel non for Washington State Inheritance Tax purposes is reasonably clear. For Federal Estate Tax purposes, it appears that the homestead or in lieu of homestead award does qualify, but that the family allowance does not qualify, for the marital deduction.

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Taxation-Federal Estate Tax-The Construction Of Section 2036, William S. Bach S .Ed. Mar 1962

Taxation-Federal Estate Tax-The Construction Of Section 2036, William S. Bach S .Ed.

Michigan Law Review

This comment will explore two problems: first, an analysis of the legislative history of the present section 2036 in an effort to discover exactly which property relationships Congress intended to reach by this provision; second, an examination of the treatment which several specific arrangements have been given by the courts to determine whether there is any degree of certainty or predictability in the application of section 2036.

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Taxation-Federal Estate Tax-Inference Of Retained Life Interest Under Section 2036(A), Donald E. Vacin Mar 1962

Taxation-Federal Estate Tax-Inference Of Retained Life Interest Under Section 2036(A), Donald E. Vacin

Michigan Law Review

In 1936 decedent established an irrevocable trust naming herself and relatives as beneficiaries. The corporate trustees were directed to pay the trust income, in the exercise of their absolute discretion, either to the settlor or to the other beneficiaries. In filing her 1936 federal gift tax return settlor attempted unsuccessfully to exclude the value of a life estate in the trust income, allegedly retained by her. At her death, the value of the trust corpus was not included in her estate tax return. The Commissioner assessed a deficiency contending that decedent-settlor had retained for her life the "possession or enjoyment" …

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The Federal Estate Tax And Sale Of A Retained Life Estate In Contemplation Of Death - United States V. Allen, Thomas J.S. Waxter Jr. Jan 1962

The Federal Estate Tax And Sale Of A Retained Life Estate In Contemplation Of Death - United States V. Allen, Thomas J.S. Waxter Jr.

Maryland Law Review

No abstract provided.

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Inheritance Tax--Tax On Specific Bequests--"Tax On A Tax Ad Infinitum" Held Proper, Robert Glenn Steele Dec 1961

Inheritance Tax--Tax On Specific Bequests--"Tax On A Tax Ad Infinitum" Held Proper, Robert Glenn Steele

West Virginia Law Review

No abstract provided.

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Taxation - Federal Income Tax - Severance Damages To Real Property Are A Component Of Charitable Deduction, Michael M. Hughes Jun 1961

Taxation - Federal Income Tax - Severance Damages To Real Property Are A Component Of Charitable Deduction, Michael M. Hughes

Michigan Law Review

The United States selected part of petitioners' estate for construction of a Nike missile base and began condemnation proceedings and negotiations for sale of the premises in lieu of condemnation. Upon failure of the parties to agree on a sale price, petitioners made a gift of the site and certain easements in adjoining land to the United States for so long as the site was used as a missile base. In their 1955 return petitioners claimed a charitable deduction of $69,782 as the fair market value, including severance damages to the remaining portion of their estate, of the property conveyed. …

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Federal Estate Tax - Marital Deduction - Annuity For Life With Guaranteed Certain Payments Not Divided Into Two Properties By Insurer's Accounting Treatment, William S. Bach Apr 1961

Federal Estate Tax - Marital Deduction - Annuity For Life With Guaranteed Certain Payments Not Divided Into Two Properties By Insurer's Accounting Treatment, William S. Bach

Michigan Law Review

Plaintiff, executor of decedent's estate, brought suit to recover an overpayment of federal estate tax. Decedent had purchased a life insurance policy and had elected an option under which proceeds would be paid to his wife in monthly payments for her life; however, the option also guaranteed a minimum of 240 payments. In the event the wife died before 240 payments were made, payments were to continue to decedent's daughter, or on the death of both wife and daughter, the commuted value of the remaining guaranteed payments would be paid in lump sum to the estate of the survivor. The …

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Taxation Of Gifts In Trust To Charities Reserving A Life Income Interest, Herman L. Trautman Mar 1961

Taxation Of Gifts In Trust To Charities Reserving A Life Income Interest, Herman L. Trautman

Vanderbilt Law Review

The character of every nation is determined in large part by the values and beliefs of its people. A value high in the mores of American society is a settled policy decision to encourage gifts to charities. Governmental policy, federal and state, has been implemented for along time in various areas of the law by special provisions in favor of charity; and nowhere has the implementation of this policy been more pronounced than in our present tax laws, due in no small part to the high graduated income tax rates applicable to individuals. In order to encourage charities, Congress has …

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Estate Tax--Effect Of Subsequent Events On Claims Against The Estate, Robert Glenn Lilly Jr. Dec 1960

Estate Tax--Effect Of Subsequent Events On Claims Against The Estate, Robert Glenn Lilly Jr.

West Virginia Law Review

No abstract provided.

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Taxation-Federal Income Tax-Strike Benefits May Be Gifts, Christopher Cobb Dec 1960

Taxation-Federal Income Tax-Strike Benefits May Be Gifts, Christopher Cobb

Michigan Law Review

Taxpayer received assistance from a labor union while he was participating in a strike called by the union. The area in which he lived had become a distressed area as a consequence of the strike, and the union had established a general program of aid for strikers with no other source of income. Both before and after he joined the union payments were made to taxpayer under this program. Taxpayer sued for a refund of the income tax he payed on the value of the assistance so received, and the jury returned a verdict in his favor, finding the payments …

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Decedents' Estates, Trusts And Future Interests -- 1960 Tennessee Survey, Herman L. Trautman Oct 1960

Decedents' Estates, Trusts And Future Interests -- 1960 Tennessee Survey, Herman L. Trautman

Vanderbilt Law Review

The subject matter will be discussed under the three principal headings: Decedents' Estates, Trusts, and Future Interests. Since the legislature has not been in session during the year' covered by this survey, the developments in the subject areas of the law consist entirely of appellate court litigation. Most of the cases discussed in the section on Decedents' Estates involve problems of probate administration and procedure; there was only one case involving the substantive right of intestate succession and one case concerning the federal estate tax. The section on Trusts is practically non-existent this year, although one case is mentioned concerning …

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Book Reviews, Willard L. Boyd, Robert Meisenholder, Robert H. Skilton, Charles Seligson, Allan F. Smith, Charles L. B. Lowndes, Elvin E. Overton, Julio Cueto-Rua, W. Paul Gormley, John J. Yeager, James A. Rahl, Carl H. Fulda Jun 1960

Book Reviews, Willard L. Boyd, Robert Meisenholder, Robert H. Skilton, Charles Seligson, Allan F. Smith, Charles L. B. Lowndes, Elvin E. Overton, Julio Cueto-Rua, W. Paul Gormley, John J. Yeager, James A. Rahl, Carl H. Fulda

Journal of Legal Education

No abstract provided.

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Property - Powers - State Powers Statutes Protecting Creditors And Requiring Formal Execution, Robert A. Smith S. Ed. Mar 1960

Property - Powers - State Powers Statutes Protecting Creditors And Requiring Formal Execution, Robert A. Smith S. Ed.

Michigan Law Review

The first part of the comment considers the elevation sections of the statute-sections that change the donee's interest in the appointive or dispositive property to a fee for the benefit of creditors. The second part considers the execution sections of the statute-sections that subject the execution of powers to conveyancing requirements. These sections are of the utmost significance to estate planners.

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Abstracts Of Recent Cases, H. S. S. Jr. Feb 1960

Abstracts Of Recent Cases, H. S. S. Jr.

West Virginia Law Review

No abstract provided.

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Taxation - Federal Estate Tax - Effect Of Presidential Freezing Orders On The Creation Of Excludable Bank Deposits For Nonresident Aliens, William Y. Webb Feb 1960

Taxation - Federal Estate Tax - Effect Of Presidential Freezing Orders On The Creation Of Excludable Bank Deposits For Nonresident Aliens, William Y. Webb

Michigan Law Review

Decedent, a citizen and resident of France, was the sole income beneficiary of a trust fund held in New York by the plaintiff as trustee. An executive order, issued pursuant to the Trading with the Enemy Act, prohibited remittance of trust income to the decedent from 1940 to the time of her death in 1946. As this income accrued, the plaintiff's trust department transferred it to the plaintiff's general banking department in its own name as trustee and subject to its order out of current banking funds. In an action by the executor of the decedent-beneficiary's estate to recover an …

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Estate And Gift Tax--Gratuitous Conveyance In Fee Simple--Oral Retention Of Enjoyment By Grantor For Live, E. P. K. Dec 1959

Estate And Gift Tax--Gratuitous Conveyance In Fee Simple--Oral Retention Of Enjoyment By Grantor For Live, E. P. K.

West Virginia Law Review

No abstract provided.

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Inheritance Taxation - Selected Provisions Of Michigan, Illinois And Ohio - A Study In Application And Justification, Edward B. Stulberg S.Ed. Apr 1959

Inheritance Taxation - Selected Provisions Of Michigan, Illinois And Ohio - A Study In Application And Justification, Edward B. Stulberg S.Ed.

Michigan Law Review

This comment will explore the existing variations in four commonly encountered areas: joint interests with rights of survivorship, contingent remainder interests, powers of appointment, and life insurance proceeds. Emphasis will also be placed on treatment accorded the surviving spouse and children and the implicit relationship between such treatment and some of the above areas. The essence of this examination will be to inquire whether adoption of an estate tax would be a more suitable vehicle for implementing a local death tax program.

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Setting The Price In An Close Corporation Buy-Sell Agreement, David Keith Page Mar 1959

Setting The Price In An Close Corporation Buy-Sell Agreement, David Keith Page

Michigan Law Review

The stockholders of a close corporation may consider it important to keep control of the business "within the family." This can be accomplished through a restrictive agreement, typically one which gives the corporation or the remaining stockholders a first option to purchase the shares of any departing stockholder. The original owners may also wish to guarantee themselves a ready purchaser for their stock when they die or leave the business. This second objective can be attained by adopting a restrictive agreement which places an obligation on the departing stockholder to sell to the corporation or to the surviving stockholders, who …

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Taxation - Federal Estate Tax - Incidence Of Tax Determined By Testamentary Directive, Robert A. Smith Mar 1959

Taxation - Federal Estate Tax - Incidence Of Tax Determined By Testamentary Directive, Robert A. Smith

Michigan Law Review

An inter vivas trust created by testator and property held jointly with his wife were included in his gross estate in computing the federal estate tax.1Testator left his residuary estate to charity and directed in his will that the estate tax on the above inter vivas transfers be borne by the property so transferred. The government determined that the estate tax was payable out of the residue and reduced the charitable deduction by the amount of the estate tax attributable to the inter vivas transfers pursuant to section 812(d) of the 1939 Internal Revenue Code. The district court granted the …

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Federal Taxation - Tax Aspects Of Corporate Buy And Sell Agreement, Joel D. Tauber S.Ed. Feb 1959

Federal Taxation - Tax Aspects Of Corporate Buy And Sell Agreement, Joel D. Tauber S.Ed.

Michigan Law Review

It is the purpose of this comment to consider the tax problems connected with both types of "conventional" corporate buy and sell agreements. It should be recognized, however, that there are many questions of local law and business necessity that also exert influence on the use of such agreements.

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Federal Estate And Gift Taxation, Robert Kramer Jan 1959

Federal Estate And Gift Taxation, Robert Kramer

Faculty Scholarship

No abstract provided.

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Federal Taxation - Transferee Liability Of Insurance Beneficiary, John Gelder S.Ed. Dec 1958

Federal Taxation - Transferee Liability Of Insurance Beneficiary, John Gelder S.Ed.

Michigan Law Review

Nearly six years after taxpayer died income tax deficiencies were determined against his estate. Since his estate was insolvent the Commissioner sought to impose transferee liability under section 311 of the 1939 code (now I.R.C. section 6901) on plaintiff, taxpayer's widow, as beneficiary of" her husband's life insurance. The Tax Court, applying federal law, held plaintiff liable for the entire deficiency since the proceeds received by her exceeded that amount. The court of appeals, applying state law, reversed and ruled that the beneficiary was not a "transferee" within the meaning of section 311 even to the extent of the cash …

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Taxation - Federal Estate Tax - Insurance And Annuity Combinations, John B. Schwemm S.Ed. Jun 1958

Taxation - Federal Estate Tax - Insurance And Annuity Combinations, John B. Schwemm S.Ed.

Michigan Law Review

Decedent, aged seventy-six, invested in three single premium life insurance policies. Issuance of each was conditioned on the purchase of a single life, nonrefundable annuity of specified value, and no physical examination was required. Each combination was balanced so that the total premium, exclusive of loading charges, equalled the face value of the insurance. The resulting correlation between compound interest and annuity disbursements made the guaranteed payments to the annuitant correspond precisely with the expected income of a reinvestment of the entire deposit by the insurer. Decedent retained the annuity rights, but all present and future interests in the life …

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