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grounds T.C. Memo. 1989-511 (voidable transfers are includable in
the gross estate pursuant to section 2038). Simply stated, the
transferees' enjoyment of the property in question would be
subject, at the date of decedent's death, to revocation or
termination through the exercise of a power by the decedent
within the meaning of section 2038(a)(1).3
We further reject petitioner's contention that, for purposes
of section 2033 or section 2038, the voidable nature of a
transfer is ignored until the transfer is successfully avoided.
Petitioner relies upon Longue Vue Found. v. Commissioner, 90 T.C.
150 (1988), and Estate of Varrick v. Commissioner, 10 T.C. 318
(1948), two cases involving voidable charitable transfers.
However, those cases stand for the narrow proposition that a
charitable gift that is voidable by the decedent's heirs, but
that is not avoided, "is not regarded as creating a contingency
that fails the 'so remote as to be negligible' test of the
regulations under section 2055." Longue Vue Found. v.
Commissioner, supra at 159. Because the instant motion concerns
the question whether voidable transfers to the natural objects of
the decedent's bounty are includable in the gross estate, as
3 Consistent with our reasoning that the disputed
transfers, if voidable, would be includable in the gross estate
pursuant to sec. 2033 and/or sec. 2038, petitioner's assertion
that the disputed transfers are now final because any suit to
avoid the disputed transfers would be barred by the statute of
limitations is irrelevant.
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