In this regard, we note that "a transfer of property procured through expenditures by the decedent with the purpose, effected at his death, of having it pass to another" is a transfer by a decedent of property. Estate of Porter v. Commissioner, 54 T.C. 1066, 1070 (1970), affd. 442 F.2d 915 (1st Cir. 1971), citing Chase National Bank v. United States, 278 U.S. 327 (1929). In order for the post mortem annuity to be considered the decedent's property, Marstan must have been contractually obligated to make the annuity payments.

In this regard, we note that ‘a transfer of property procured through expenditures by the decedent with the purpose, effected at his death, of having it pass to another‘ is a transfer by a decedent of property. Estate of Porter v. Commissioner, 54 T.C. 1066, 1070 (1970), affd. 442 F.2d 915 (1st Cir. 1971), citing Chase Nat. Bank v. United States, 278 U.S. 327 (1929). In order for the post-mortem annuity to be considered the decedent's property, Marstan must have been contractually obligated to make the annuity payments.