Neonatology Associates, P.A., et al - Page 68




                                               - 68 -                                                  
            witness was Charles DeWeese, F.S.A., M.A.A.A. (Mr. DeWeese).  Mr.                          
            DeWeese is an independent consulting actuary, and we recognized                            
            him as an expert on, among other things, the difference between                            
            group term insurance and universal life insurance.  Mr. DeWeese                            
            generally testified that the C-group term policy and the C-group                           
            conversion UL policy were one insurance product; i.e., both                                
            policies were parts of a single life insurance product.                                    
                  We have broad discretion to evaluate the cogency of an                               
            expert’s analysis.  Sometimes, an expert will help us decide a                             
            case.  See, e.g., Booth v. Commissioner, supra at 573; Trans City                          
            Life Ins. Co. v. Commissioner, 106 T.C. 274, 302 (1996); see also                          
            M.I.C. Ltd. v. Commissioner, T.C. Memo. 1997-96; Proios v.                                 
            Commissioner, T.C. Memo. 1994-442.  Other times, he or she will                            
            not.  See, e.g., Estate of Scanlan v. Commissioner, T.C. Memo.                             
            1996-331, affd. without published opinion 116 F.3d 1476 (5th Cir.                          
            1997); Mandelbaum v. Commissioner, T.C. Memo. 1995-255, affd.                              
            without published opinion 91 F.3d 124 (3d Cir. 1996).  We weigh                            
            an expert’s testimony in light of his or her qualifications and                            
            with due regard to all other credible evidence in the record.                              
            See Estate of Kaufman v. Commissioner, T.C. Memo. 1999-119.  We                            
            may embrace or reject an expert’s opinion in toto, or we may pick                          
            and choose the portions of the opinion we choose to adopt.  See                            
            Helvering v. National Grocery Co., 304 U.S. 282, 294-295 (1938);                           
            Silverman v. Commissioner, 538 F.2d 927, 933 (2d Cir. 1976),                               






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