Estate of LeeEstate of Lee
In a case of stating the obvious, the Tax Court ruled on Dec. 20, 2007, that there is no estate tax marital deduction unless the spouse actually survives the decedent. In Estate of Kwang Lee v. Commissioner, T.C. Memo. 2007-371, the Lees wanted to ensure that they used their estate tax exemptions to the maximum extent possible. But most of the assets belonging to Kwang Lee and his wife were held in
January 1, 2009
David A. Handler
In a case of stating the obvious, the Tax Court ruled on Dec. 20, 2007, that there is no estate tax marital deduction unless the spouse actually survives the decedent.
In Estate of Kwang Lee v. Commissioner, T.C. Memo. 2007-371, the Lees wanted to ensure that they used their estate tax exemptions to the maximum extent possible. But most of the assets belonging to Kwang Lee and his wife were held in Kwang's name. The couple had their wills prepared so that each one's stated, “For purposes of this Will, any person who shall die within six (6) months after my death shall be deemed to have predeceased me.”
Kwang's wife, Kyong, predeceased Kwang by 46 days. Following the terms of his will, Kwang's estate was administered as if h...
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