In re the Appraisal Under the Transfer Tax Acts of the Property of Brennan

New York Surrogate's Court

In re the Appraisal Under the Transfer Tax Acts of the Property of Brennan

92 Misc. 423, 157 N.Y.S. 141

CourtNew York Surrogate's Court

DecidedNovember 15, 1915

StatusPublished

Cited by1 cases

This text of 92 Misc. 423 (In re the Appraisal Under the Transfer Tax Acts of the Property of Brennan) is published on Counsel Stack Legal Research, covering New York Surrogate's Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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In re the Appraisal Under the Transfer Tax Acts of the Property of Brennan, 92 Misc. 423, 157 N.Y.S. 141 (N.Y. Super. Ct. 1915).

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Opinion

Ketcham, S.

Is a transfer tax to be imposed upon a transfer effected by the depositor in a savings bank of the decedent’s money in trust for a person named in the form of the account?

[424]*424The deposition of the beneficiary of the account, uncontradicted, is that, many times previous to his death, the decedent stated to her that he had deposited such money in said account and that it belonged to her.

In Matter of Reed, 89 Misc. Rep. 632, Mr. Surrogate Ostrander says of a deposit upon which the comptroller claimed a transfer tax: “The deposit made in trust for Fred S. Olute by the deceased seems to fall within the rule of Matter of Totten, 179 N. Y. 112; Matter of Pierce, 132 App. Div. 469; Stockert v. Dry Dock Savings Institution, 155 id. 123; Hessen v. McKinley, Id. 496, where it was held that when notice of the trust form of the deposit was given to the beneficiary the trust became irrevocable. The transaction amounted to a gift inter vivos, the title passed at the time and the deposit was not taxable.”

In the case last cited, the fact, which does not appear in the opinion, was that, without delivery of the book representing the deposit, the decedent told the designated beneficiary that the deposit had been made in trust for her.

The decision of the learned surrogate is one which this court follows with great respect and confidence.

Appeal overruled.

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Ketcham, S.

Is a transfer tax to be imposed upon a transfer effected by the depositor in a savings bank of the decedent’s money in trust for a person named in the form of the account?

[424]*424The deposition of the beneficiary of the account, uncontradicted, is that, many times previous to his death, the decedent stated to her that he had deposited such money in said account and that it belonged to her.

In Matter of Reed, 89 Misc. Rep. 632, Mr. Surrogate Ostrander says of a deposit upon which the comptroller claimed a transfer tax: “The deposit made in trust for Fred S. Olute by the deceased seems to fall within the rule of Matter of Totten, 179 N. Y. 112; Matter of Pierce, 132 App. Div. 469; Stockert v. Dry Dock Savings Institution, 155 id. 123; Hessen v. McKinley, Id. 496, where it was held that when notice of the trust form of the deposit was given to the beneficiary the trust became irrevocable. The transaction amounted to a gift inter vivos, the title passed at the time and the deposit was not taxable.”

In the case last cited, the fact, which does not appear in the opinion, was that, without delivery of the book representing the deposit, the decedent told the designated beneficiary that the deposit had been made in trust for her.

The decision of the learned surrogate is one which this court follows with great respect and confidence.

Appeal overruled.

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92 Misc. 423, 157 N.Y.S. 141, Counsel Stack Legal Research, https://law.counselstack.com/opinion/in-re-the-appraisal-under-the-transfer-tax-acts-of-the-property-of-brennan-nysurct-1915.

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