- 11 - bequest. See sec. 2055(c) (limiting charitable contribution deduction to amount of charitable bequest reduced by amount of taxes payable out of that bequest). This is especially true when we consider the equivalency that the will otherwise gives to the charitable bequest and the bequest in trust to decedent’s grandchildren. These bequests are designated in decedent’s will to each constitute one half of the “rest, residue, and remainder” of decedent’s property.6 We agree with the estate that decedent’s will lacks a clear expression of intent as to who is ultimately to bear the burden of the estate taxes. The will as a whole is ambiguous on this score. Although decedent’s will provision is susceptible to a number of plausible ways of apportioning the estate taxes, none of these interpretations provides a sustainable basis for apportioning the estate taxes between the bequest in trust to decedent’s grandchildren and the charitable bequest to the Lubin- Green Foundation. Under these circumstances, Missouri judicial precedents dictate that we apply the doctrine of equitable 6 This designation might support respondent’s original interpretation, which he has now abandoned, that the will requires a 50-50 allocation of the estate taxes between the charitable bequest and the bequest in trust for the grandchildren. Although this interpretation is plausible, it has no express support in the specific provision of decedent’s will dealing with the apportionment of taxes. Also, the fact that both of the interpretations that respondent has forwarded, as well as other possible interpretations, are similarly plausible supports our ultimate conclusion that the will is ambiguous as to the proper apportionment of the estate taxes.Page: Previous 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