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Dr. Fleischman's candor in admitting that Gordon's
death could not be predicted with “absolute certainty.”
However, when a disease has progressed to such an
extent as was present in the instant case, it becomes
evident to those familiar with the physical condition
of the patient that a cure cannot be expected and that
death will inevitably follow.
The language quoted above was intended to convey our view that,
as of March 5, 1986, decedent's death was predictable within 1
year to a reasonable certainty. We therefore ruled that it was
improper to value the remainder interest that decedent
transferred pursuant to the private annuity agreement under
section 25.2512-5(f) (Table A), Gift Tax Regs. Id.
The foregoing aside, we likewise would sustain respondent's
determination on this point assuming that the “clearly imminent”
standard articulated in Rev. Rul. 80-80, supra, is controlling.
Rev. Rul. 80-80, supra, states that the question of whether death
is clearly imminent generally is to be determined on the facts
and circumstances of the particular case. Decedent did not
exhibit any clinical signs of imminent death as of March 5, 1986,
nor was he as physically disabled as the individuals described in
Estate of Hoelzel v. Commissioner, 28 T.C. 384 (1957), and Estate
of Jennings v. Commissioner, supra. Nonetheless, decedent was
terminally ill, and his condition was deteriorating fairly
rapidly as of March 5, 1986. Estate of McLendon v. Commissioner,
66 TCM (CCH) at 968, 64 TCM (RIA) at 2460. Considering all of
the facts and circumstances, we find that on March 5, 1986,
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