Taxation-Federal Estate and Gift Commons^™

Taxation - Federal Income Tax - Right Of Donee To Deduct Expense Of Contesting Gift Tax Asserted Against Donor, William J. Wise S.Ed.

Michigan Law Review

ln 1948 taxpayer's mother gave him 410 shares of stock in the family enterprise. She filed a gift tax return, but the government, in auditing it, disagreed with her valuation of the stock. Donor had no desire to contest the government's valuation, but since his mother and father still held substantial stock in the business which would eventually go to him, donee desired a lower valuation for estate tax evidentiary purposes. Allegedly fearing personal liability for any deficiency assessed against his mother as well as a lien against the corpus of the gift for any unpaid tax, he decided to …

Tax Management Of Estates And Trusts, By Practising Law Institute, Merle H. Miller

Indiana Law Journal

No abstract provided.

Corporate Buy-Sell Agreements: Tax Problems In Drafting, Richard Lloyd Strecker

Washington and Lee Law Review

No abstract provided.

Federal Estate And Gift Taxation, Robert Kramer

Faculty Scholarship

No abstract provided.

Federal Estate And Gift Taxation, Robert Kramer

Faculty Scholarship

No abstract provided.

Federal Estate Tax Consequences Of A Life Estate With The Power To Consume, James Park Jr.

Kentucky Law Journal

No abstract provided.

Some Differences Between Federal And Virginia Taxation In The Estate And Gift Tax Fields, H. Brice Graves

William & Mary Law Review

No abstract provided.

Personal Property And Sales, F. Hodge O'Neal, Thomas G. Roady Jr.

Vanderbilt Law Review

Sales

Two sales cases were decided during the survey period. One of the cases, Henson v. Wright,' was an action by the buyer of a tractor to rescind the purchase for breach of warranty.

Judd v. Fruehauf Trailer Co. is a questionable decision which perhaps opens a way for a seller in a conditional sale contract to circumvent provisions of the conditional sales act designed to protect the conditional buyer.

Liability of Common Carrier: Is a carrier liable to a shipper for breach of contract for failure to deliver an animal lost en route from point of shipment to point …

Taxation - Federal Estate Tax - Interpretation Of "In Fact" Clause Of Section 2036 And Deductibility Of Support Rights Of Wife, Nathan B. Driggers S.Ed.

Michigan Law Review

Having decided to separate, but desiring to avoid the publicity of a judicial proceeding, decedent and his wife executed an agreement which called for the transfer of securities to a trust, the income of which was to be paid to the wife for her life or until her remarriage, with a reversionary interest in the decedent. In consideration for the transfer, the wife relinquished her right to support by the decedent. Both parties were represented by attorneys in the arms-length negotiations leading to the agreement. About six years after the separation, during which time neither party took steps to procure …

Elections And Discretions Under The Code: The Executor's Dilemma, Byron E. Bronston

Articles by Maurer Faculty

No abstract provided.

State And Federal Taxation: Tax Problems Of Formula Type Of Marital Deduction Bequest, Byron E. Bronston

Articles by Maurer Faculty

No abstract provided.

Transfers Of Joint Property In Contemplation Of Death: A Call For Immediate Statutory Revision, L. Hart Wright

Michigan Law Review

For years the Tax Court sided with the government and the Court of Appeals for the Third Circuit in asserting that the contemplation-of-death provision of the estate tax act was sufficiently elastic to include the tax concept of ownership reflected in the joint-property provision of the same act. The alliance between those tribunals on this point was recently broken, however, when the Tax Court shifted to the competing view supported by taxpayers and the appellate court for the Ninth Circuit. It now believes that the two provisions mentioned above are complete strangers even though at one time these two were …

Trusts For Minors, Mortimer Caplin

Washington and Lee Law Review

No abstract provided.

The Martial Deduction And Equalization Under The Federal Estate And Gift Taxes Between Common Law And Community Property States, Paul E. Anderson

Michigan Law Review

In 1948, as the culmination of much dissatisfaction with the treatment of community property under the federal estate and gift tax laws, Congress adopted a new formula for the treatment of gifts and bequests between spouses; this formula was known as the marital deduction. It has remained practically unchanged since its adoption and still stands as an integral part of our federal estate and gift tax structure.

The basic purpose of the deduction was to provide equalization in estate and gift tax treatment between spouses residing in community property states and those residing in common law property states. The plan …

Taxation - Federal Estate Tax - Includibilty Of Accumulated Income Of Trust Where Corpus Included In Gross Estate, Neil Flanagin S.Ed.

Michigan Law Review

Decedent created eight inter vivos trusts for the benefit of his immediate family, reserving the power as trustee to invade the corpus in unusual circumstances for the benefit of the beneficiaries, and to accumulate all or part of the income and add it to the corpus. The Commissioner included both the corpus and the accumulated income in the decedent's gross estate. The Tax Court held that the corpus was properly included, but not the accumulated income. On appeal by the Commissioner, held, affirmed. The accumulated income of the trusts should not be included in the decedent's gross estate as …

Taxation - Federal Estate Tax - Deductibility Of Contingent Bequests To Charity, Jack G. Armstrong S.Ed.

Michigan Law Review

Testator bequeathed a remainder interest to charitable organizations which was contingent upon her sister, age eighty-two, predeceasing two other women, ages sixty-seven and sixty-eight. The Commissioner disallowed a deduction for this bequest on the ground that it was not certain that charity would receive any benefit. In the district court the parties stipulated that there was an eleven to one chance that charity would receive the bequest. On the basis of this stipulation the district court found for the taxpayer. On appeal, held, reversed. In order for a deduction to be allowed the possibility that charity will not take …

Estate Taxation--Constitutionality Of The Premium Payment Test Applied To Life Insurance Policies When Gift Tax Has Been Paid On Inter Vivos Transfer, Robert A. Palmer

Kentucky Law Journal

No abstract provided.

Tax Problems In Probating Estates, Byron E. Bronston

Articles by Maurer Faculty

No abstract provided.

State And Federal Taxation: Gifts To Or For Minors, Byron E. Bronston

Articles by Maurer Faculty

No abstract provided.

Federal Estate Taxation--Some Problems In Apportionment (In The Absence Of Will Provision Or In Intestate Estates), J. Montjoy Trimble

Kentucky Law Journal

No abstract provided.

Estate Taxation--Marital Deduction--Power Of Appointment Terminable Upon Wife's Incapacity, Glenn L. Greene Jr.

Kentucky Law Journal

No abstract provided.

Taxation - Inheritance Tax - Transfers Subject To Take Effect At Or After Death, Harvey A. Howard S.Ed.

Michigan Law Review

Decedent was a participant in a company profit-sharing savings and retirement trust. Under the terms of the plan, the company made deposits with a trustee on an annual basis and relinquished the right to recapture or impair the fund for its own use or benefit. The contributions were to be held for ten years with accrued interest, and then were to be distributed to the employees in three annual instalments. Should an employee leave the company, he was entitled to his share in three instalments; in the event of retirement or illness he was to receive his entire share in …

Federal Estate Taxation--Conditional Bequests To Charity--No Deduction, J. L. Mcc.

West Virginia Law Review

No abstract provided.

Teaching "Policy" In Federal Taxation, John C. Chommie

Journal of Legal Education

No abstract provided.

Taxation--Gift Tax--Partial Restoration To Donor As Ground For Claiming, B. E. B.

West Virginia Law Review

No abstract provided.

Taxation - Federal Income Taxation - Problems Created By The Complex Trust Provisions Of The 1954 Code, Harvey A. Howard S.Ed.

Michigan Law Review

This comment will not be expository of all of the trust provisions but rather will attempt to deal with some of the more important interpretative difficulties likely to be encountered in the new law involving the taxation of the income of those trusts which may accumulate income, distribute corpus, or pay or set aside amounts for charitable purposes. It will be assumed that the reader is familiar with the basic statutory pattern of the trust sections of the new code.

Proposal For Apportionment Of The Federal Estate Tax

Indiana Law Journal

No abstract provided.

Personal Property And Sales -- 1954 Tennessee Survey, Clyde L. Ball

Vanderbilt Law Review

This article is limited to cases involving transfers of personal property by gift or by sale, and the resultant legal relationships. Cases involving liens on personal property, chattel mortgages, and those dealing with sales in bulk are discussed in the article on Creditors' Rights and Security Transactions in this Survey.'

Taxation-Federal Estate Tax-Relevance Of Marital Deduction To Computation Of Widow's Distributive Share Of Husband's Estate Where She Elects To Take Against Will, Alice Austin

Michigan Law Review

A widow electing to take against her husband's will claimed to be entitled to have her one-third share of decedent's net personal estate computed without deduction of federal estate taxes, on the theory that Congress in allowing the marital deduction intended that a widow's share qualifying for such deduction should be free of the impact of the federal estate tax. The state had no statute providing for apportionment of federal estate taxes. Held: Congress did not intend, by allowing the marital deduction, to change the rule that state law is determinative of the impact of the federal estate tax. …

The Accrual Of Corporate Dividends Under The Federal Estate Tax, Charles L. B. Lowndes, Robert Kramer

Faculty Scholarship

No abstract provided.