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and to complete the above-described transfers. Respondent
contends that decedent’s execution of the assignment did not
effect a withdrawal of Marital Fund assets from the Marital Fund
pursuant to her power of withdrawal under the Sidney Gore Trust.
Alternatively, respondent contends that, even if the assignment
qualified as a valid exercise of decedent’s power to withdraw,
the simple act of executing the assignment, without more, was not
sufficient under Oklahoma law to complete the transfers described
in the assignment. Respondent further contends that decedent did
not transfer title to, or signature authority over, any of the
Marital Fund assets before her death on June 12, 1997, that
decedent never delivered the Marital Fund assets to GFLP, and
that decedent never released dominion and control over the
Marital Fund assets during her lifetime. Respondent alleges that
decedent continued to treat the Marital Fund assets (and the
income therefrom) as her property during her lifetime.
C. Decedent’s Alleged Withdrawal of Marital Fund Assets on
January 8, 1997
In order to apply the appropriate Federal tax laws, we must
first determine what property interests decedent owned on the
date of her death. Because State law determines whether a
taxpayer has a property interest or right, we must examine the
law of the State of Oklahoma to ascertain whether decedent had a
property interest in the Marital Fund assets on the date of her
death and, if so, the nature of that interest. See Morgan v.
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Last modified: November 10, 2007