Estate of Willis Edward Clack, Deceased, Marshall & Ilsley Trust Company, Co-Personal Representative, and Richard E. Clack, Co-Personal Representative - Page 2

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               Michael J. Calabrese, for respondent.                                  


               WELLS, Judge:*  Respondent determined a deficiency of                  
          $2,284,008 in the Federal estate tax of the Estate of Willis                
          Edward Clack (estate).  Unless otherwise indicated, all section             
          references are to the Internal Revenue Code in effect on the date           
          of death of Willis Edward Clack (decedent), and all Rule                    
          references are to the Tax Court Rules of Practice and Procedure.            
          The issue to be decided in this Opinion is whether the interest             
          of decedent’s surviving spouse in certain marital trust property            
          is "qualified terminable interest property" (QTIP) within the               
          meaning of section 2056(b)(7), where the passage to the surviving           
          spouse of the interest in the property is contingent upon the               
          coexecutors’ QTIP election as to the property.1                             
          FINDINGS OF FACT                                                            
          Some of the facts were stipulated for trial pursuant to Rule                
          91.  The parties’ stipulations are incorporated into this Opinion           
          by reference and are found accordingly.                                     

          *                                                                           
               This case was reassigned to Judge Thomas B. Wells by Order             
          of the Chief Judge.                                                         
          1                                                                           
               If the interest in such property is QTIP, then an additional           
          issue must be decided, to wit, whether the estate, inheritance,             
          and any other succession taxes are to be paid from the assets               
          passing into the marital trust or from the stock bequeathed to              
          decedent's son.  This additional issue will be decided by a                 
          separate opinion subsequently to be released.                               




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