Estate of Henry A. Lassiter, deceased, Paula Ann Masters Lassiter, administrator, C.T.A. - Page 1

                                  T.C. Memo. 2000-324                                   

                                UNITED STATES TAX COURT                                 

                    LASSITER, ADMINISTRATOR, C.T.A., Petitioner v.                      
                     COMMISSIONER OF INTERNAL REVENUE, Respondent                       

               Docket No. 17643-98.                 Filed October 19, 2000.             

                    D executed a will in 1970 which set forth a                         
               testamentary plan placing the majority of D’s property                   
               into two trusts.  The terms of one trust are such that                   
               a marital deduction is available for assets passing                      
               thereto.  The other, residuary, trust does not as                        
               written satisfy the requirements for such a deduction,                   
               largely by reason of interests therein granted to                        
               persons other than D’s surviving spouse.  Following D’s                  
               death in 1994, beneficiaries of his estate executed a                    
               series of disclaimers in an attempt to enable the                        
               residuary trust to qualify for the marital deduction                     
               under sec. 2056(b)(7), I.R.C.  When this deduction was                   
               claimed for Federal estate tax purposes, it was                          
               disallowed by R.                                                         
                    Held:  The estate is entitled to a deduction                        
               pursuant to sec. 2056(b)(7), I.R.C., for property                        
               placed in the residuary trust established under D’s                      
               1970 will.                                                               

Page:   1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  Next

Last modified: May 25, 2011