Estate of Mildred Geraldine Letts, Deceased, James P. Letts III and Joanne L. Magbee, Coexecutors - Page 1

                                   109 T.C. No. 15                                    

                               UNITED STATES TAX COURT                                

                ESTATE OF MILDRED GERALDINE LETTS, DECEASED, JAMES P.                 
             LETTS III AND JOANNE L. MAGBEE, COEXECUTORS, Petitioner v.               
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      

               Docket No. 8539-95.                 Filed November 24, 1997.           

                    Decedent's (D) husband (H) died in 1985, and D                    
               died in 1991.  They were survived by two children,                     
               James P. Letts III and JoAnne Magbee.  James P. Letts                  
               III was executor of both of their estates and signed                   
               both estate tax returns.  D was also a coexecutor of                   
               H's estate, and JoAnne Magbee was a coexecutor of H's                  
               and D's estates.  The beneficiaries of H's will were D,                
               James P. Letts III, and JoAnne Magbee.  The                            
               beneficiaries of D's will were James P. Letts III and                  
               JoAnne Magbee.                                                         
                    In his will, H left certain property to D.  H's                   
               estate claimed a marital deduction for the value of the                
               property.  H's estate elected not to treat D's interest                
               as qualified terminable interest property (QTIP).  H's                 
               estate was entitled to claim the marital deduction for                 
               the property only if D's interest in the property was                  
               not a terminable interest.                                             

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