T.C. Memo. 1997-32
UNITED STATES TAX COURT
ESTATE OF WILLIAM G. STREET, DECEASED,
ANNE STREET SKIPPER, EXECUTRIX, Petitioner v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 376-95. Filed January 21, 1997.
D, a married resident of Texas, bought certain
life insurance policies that were community property.
He designated his estate as beneficiary of these
policies, compensating his wife for her one-half
interest in the policies, and all the insurance was so
paid at his death. Held, one-half the value of the
policies may not be excluded from D's gross estate for
Federal estate tax purposes.
Emily A. Parker, for petitioner.
Henry C. Griego, for respondent.
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