United States Trust Co. of New York v. Higgins

Full title: UNITED STATES TRUST CO. OF NEW YORK et al. v. HIGGINS, Collector of…

Court: United States District Court, S.D. New York

Date published: Jun 23, 1942

56 F. Supp. 997 (S.D.N.Y. 1942)

Opinion

56 F.Supp. 997 (S.D.N.Y. 1942) UNITED STATES TRUST CO. OF NEW YORK et al. v. HIGGINS, Collector of Internal Revenue. United States District Court, S.D. New York June 23, 1942

        George C. Baron, of New York City, for plaintiffs.

        Mathias F. Correa, U.S. Atty., of New York City (John B. Creegan, Asst. U.S. Atty., of New York City, of counsel), for defendant.

        COXE, District Judge.

         The joint and survivor annuity policy involved in this case was properly included in the gross estate of the decedent for estate tax purposes. Commissioner v. Wilder's Estate, 5 Cir., 118 F.2d 281, certiorari denied 314 U.S. 634, 62 S.Ct. 67, 86 L.Ed. 509;          I think the Commissioner correctly determined the value of the policy on the basis of the replacement cost of a comparable contract issued by the same insurance company. Estate of Harry J. Mearkle, supra. See also United States v. Ryerson, 312 U.S. 260, 61 S.Ct. 479, 85 L.Ed. 819.

        The complaint is dismissed with costs.