- 4 - for deciding the Federal estate tax consequences thereof. Helvering v. Stuart, 317 U.S. 154, 162 (1942); Greene v. United States, 476 F.2d 116, 117-118 (7th Cir. 1973); Estate of Richardson v. Commissioner, 89 T.C. 1193, 1201 (1987).2 We apply Wisconsin law as announced by the Supreme Court of Wisconsin, or, if there is no decision by that highest court, we apply what we conclude that court would decide, giving proper regard to the decisions of other courts of the State. Commissioner v. Estate of Bosch, 387 U.S. 456, 465 (1967). Wisconsin Statutes Annotated, section 701.20(5) (West 1981), provides: * * * (a) Unless the will otherwise provides * * * administration expenses shall be charged against the principal of the estate. (b) Unless the will otherwise provides, income from the assets of a decedent's estate after the death of the decedent and before distribution, including income from property used to discharge liabilities, legacies and devises, shall be determined in accordance with the rules applicable to a trustee under this section and distributed as follows: 1. To legatees and devisees of specific property other than money, the income from the property 2 There is a suggestion in the opinion of the Court of Appeals for the Sixth Circuit in Estate of Street v. Commissioner, 974 F.2d 723, 728 (6th Cir. 1992), affg. in part, revg. in part, and remanding T.C. Memo. 1988-553, that the question of chargeability of administration expenses is one of Federal not State law, and that sec. 20.2056(b)-4(a), Estate Tax Regs., controls "regardless of state law or the dictates of decedent's will". This suggestion is contrary to the decided cases and particularly to the view we expressed in Estate of Hubert v. Commissioner, 101 T.C. 314 (1993), affd. 63 F.3d 1083 (11th Cir. 1995), cert. granted 517 U.S. , 116 S. Ct. 1564 (1996).Page: Previous 1 2 3 4 5 6 7 8 9 10 Next
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