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Furthermore, in comparing Estate of McLendon v.
Commissioner, supra, to the instant section 2013 case, we note
that the decision is not directly on point and makes no attempt
to distinguish or overrule the earlier decision by the Court of
Appeals for the Fifth Circuit in Estate of Carter v. United
States, 921 F.2d 63 (5th Cir. 1991), which specifically analyzed
availability of the section 2013 credit in the context of
simultaneous deaths. Hence, Estate of McLendon v. Commissioner,
supra, is inapposite and does not alter our conclusion that the
administrative and judicial rulings addressing the relationship
between common accidents and the section 2013 credit remain
viable.
We therefore turn to the question of whether the matter
before us is to be treated as a simultaneous death situation.
The estates oppose any assumption that the Harrisons died
simultaneously on the grounds that no facts establish they were
victims of a common disaster. We, however, are satisfied that
this case is sufficiently analogous to a simultaneous death
scenario to render applicable principles related thereto.
As indicated above, an underlying rationale for deeming
valueless life estates transferred upon simultaneous deaths is
that a willing buyer with knowledge of all relevant facts would
pay nothing for the interest. Here such a buyer would be aware
either of an airplane crash and consequent near simultaneous
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