Estate of William O. Burton v. Commissioner

6 T.C.M. 495, 1947 Tax Ct. Memo LEXIS 219
CourtUnited States Tax Court
DecidedMay 6, 1947
DocketDocket No. 7528.
StatusUnpublished

This text of 6 T.C.M. 495 (Estate of William O. Burton v. Commissioner) is published on Counsel Stack Legal Research, covering United States Tax Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Estate of William O. Burton v. Commissioner, 6 T.C.M. 495, 1947 Tax Ct. Memo LEXIS 219 (tax 1947).

Opinion

Estate of William O. Burton, Deceased, John L. Meyer, et al., Executors v. Commissioner.
Estate of William O. Burton v. Commissioner
Docket No. 7528.
United States Tax Court
1947 Tax Ct. Memo LEXIS 219; 6 T.C.M. (CCH) 495; T.C.M. (RIA) 47118;
May 6, 1947
*219 Charles Looker, Esq., 11 Broadway, New York 4, N. Y., for the petitioner. Francis X. Gallagher, Esq., for the respondent.

KERN

Memorandum Findings of Fact and Opinion

KERN, Judge: Respondent, under date of January 17, 1945, determined a deficiency in Federal estate tax of petitioners in the amount of $1,028.485.15. By far the greater part of this deficiency arose from respondent's determination that "decedent had a taxable interest in one-half of the remainder of the residuary estate of Max E. Bernheimer, subject to the life estate" of the primary beneficiary, resulting in an addition to the value of the net estate of $2,754,576.47. Deductions of executors' commissions, attorneys' fees and debts of decedent in a total amount of $89,602.06 were disallowed by respondent. Petitioners filed a motion for severance of issues, the purpose of which was to request that a hearing be held herein first on the question of whether there should be included in the decedent's gross estate the remainder interest in one-half the residuary estate of Max E. Bernheimer. This motion was granted and a hearing was held herein upon that issue on December 4, 1946.

All of the facts bearing*220 upon that issue were stipulated by the parties and we find them to be as stipulated. We set out herein those facts which are necessary to an understanding of the issue presented.

Max E. Bernheimer died on September 24, 1913. His will was admitted to probate in the Surrogate's Court, New York County, New York. He was survived by his widow (now Stella H. Houseman) and two sons, George and William (who later changed their names to Burton).

His residuary estate was left in trust for his widow for life, thereafter in trust for his sons until they respectively attained 30, with remainder over to their issue.

The pertinent provisions of the will are as follows:

* * *

Fifth: - All the rest, residue and remainder of my estate, both real and personal, wheresoever, and whatsoever the same may be, of which I may die seized or possessed, I give, devise and bequeath to my executors hereinafter named, to have and to hold the same in trust nevertheless, to and for the following uses and purposes: - To invest and keep the same invested, to receive the rents, issues and profits thereof, and to pay the net rents, issues and profits so received unto my wife, during the term of her natural*221 life, and upon her death I direct my executors to divide my said residuary estate so held in trust into as many equal parts as will make one for each of my children me surviving (including in the term "children" a posthumous child, if any, of mine), and one for the issue collectively of any deceased child of mine, and as to the share so set apart for the issue collectively of any deceased child of mine, to pay over absolutely to such issue collectively such share, and as to the share so allotted to and set apart for each child of mine I give, devise and bequeath the same to my executors hereinafter named, in trust nevertheless, to and for the following uses and purposes: - To invest and keep the same invested, to receive the rents, issues and profits thereof and to pay the net rents, issues and profits so received unto the child for whom such share shall be so held in trust, until his arrival at the age of thirty years, and then to pay over to him the entire principal of the share so held in trust. During the minority of each child for whom such share shall be so set apart in trust as above provided, I hereby direct that there shall be paid to such child only so much of the net rents, *222 issues and profits as shall be required for his proper support, maintenance and education, and the balance of the net rents, issues and profits shall be accumulated during the minority of such child and paid over to such child upon his arrival at the age of twenty-one years. In the event of the death of any such child before his arrival at the age of thirty years, leaving lawful issue him surviving, then upon his death the share so held in trust for his benefit shall be paid to his issue, for them to have and to hold the same absolutely and forever. In the event of the death of any child of mine before his arrival at the age of thirty years, without leaving him issue surviving, then upon such death I direct my executors to pay the share so allotted and held in trust for such deceased child to my other children then surviving in equal shares, the issue of any deceased child to take the share which the parent would have taken if living.

I hereby empower and authorized my said executors hereinafter named, if and whenever in the exercise of their sound discretion they shall deem it wise from time to time to advance and pay over to any child of mine, after its arrival at the age of thirty*223 years, out of the principal of the said residuary estate so held in trust for the benefit of my wife as aforesaid, sums of money not exceeding in the aggregate a total of one hundred thousand dollars to each child.

Decedent's son, George Burton, died without issue on April 26, 1924, having theretofore attained 30 years of age.

Decedent's son, William O. Burton, after attaining 30 years of age, died on October 21, 1940. He left one child, Patricia. On July 1, 1942, a son, Wayne William Lonergan, was born to Patricia.

On February 1, 1943, Stella S. Housman, Alfred L. Rose, and John L. Meyer, as the trustees of the Max E. Bernheimer Estate, and as executors of William O. Burton, instituted a proceeding in the Surrogate's Court, New York County, for a settlement of their accounts and for a construction of the will. The following questions were raised in the petition for construction:

(a) Was the remainder to George Burton contingent upon his surviving the life beneficiary and, if so, did his remainder, upon his death without issue, vest absolutely in his brother William? Similarly, did William's remainder upon his death vest absolutely in his daughter Patricia?

(b) *224

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Bluebook (online)
6 T.C.M. 495, 1947 Tax Ct. Memo LEXIS 219, Counsel Stack Legal Research, https://law.counselstack.com/opinion/estate-of-william-o-burton-v-commissioner-tax-1947.