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Estate of Clack v. Commissioner

106 T.C. 131 (1996)

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Estate of Clack v. Commissioner

United States Tax Court

106 T.C. 131 (1996)

Facts

Willis Clack’s will stated that Clack expected his executor to (1) give Clack’s widow a lifetime income interest in certain property and (2) claim the marital tax deduction for the property by electing to treat the property as qualified terminable interest property (QTIP) on the estate’s estate-tax return. However, Clack’s will also stated that the executor could choose to transfer the property to a family trust if unforeseen circumstances made the transfer a better move. At Clack’s death, the executor chose to give the lifetime income interest to Clark’s widow and to treat the property as QTIP. The commissioner of Internal Revenue (commissioner) (defendant) determined that the executor had been given a power of appointment over the property that made it ineligible for QTIP treatment even though the executor had appointed the property to Clack’s widow. Clack’s estate (plaintiff) petitioned the United States Tax Court for a determination that the property was eligible for QTIP treatment and deductible.

Rule of Law

Issue

Holding and Reasoning (Wells, J.)

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