-42-
and disinterested generosity,' * * * 'out of affection, respect,
admiration, charity, or like impulses,'" Commissioner v.
Duberstein, 363 U.S. 278, 285 (1960) (quoting Commissioner v.
LoBue, 151 U.S. 243, 246 (1956) and Robertson v. United States,
343 U.S. 711, 714 (1952)), which precludes a bargained-for
exchange supported by adequate and full consideration in money or
money's worth. Thus, we cannot find that the checks represent
intended payment of a bona fide debt of decedent.
We find that the 12 $10,000 checks were intended to be
gifts, and were, by the law of the State of Georgia, incomplete
gifts. As incomplete noncharitable gifts, the intended transfers
cannot create a claim against the estate. See Estate of
Gagliardi v. Commissioner, 89 T.C. at 1212-1213. We hold,
therefore, that the $120,000 was improperly excluded from the
value of the estate.
Issue 4. Whether the Transfer of $100,000 From the J. Kurt
Holland Residual Trust to Decedent Created a Debt That is
Deductible Under Section 2053
J. Kurt Holland (Holland), decedent's spouse, died on August
15, 1979. He created by will a marital deduction trust (The
Marital Trust) and a residual trust (The J. Kurt Holland Residual
Trust). The Marital Trust was created to receive the fractional
share of Holland's residuary estate which should equal the
maximum marital deduction allowable in determining the Federal
estate tax upon his estate, reduced by certain other dispositions
of his property. The J. Kurt Holland Residual Trust (the JKH
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