United States Ninth Circuit
Estate of Bigelow v. Comm'r of Internal Revenue, 05-75957
Tax Court decision upholding a deficiency in an estate's federal estate tax return based on the recapture of the value of certain inter vivos asset transfers is affirmed where the Tax Court properly found that: 1) decedent retained an economic benefit from the transferred asset; 2) decedent had an implied agreement to derive income from the transferred asset; and 3) the transfer was not a bona fide sale for an adequate and full consideration under 26 U.S.C. section 2036's parenthetical exception.
Appellate Information
- Argued 06/05/2007
- Decided 09/14/2007
- Published 09/14/2007
Judges
- GOULD, Circuit Judge:, Before: SIDNEY R. THOMAS, KIM McLANE WARDLAW, and RONALD M. GOULD, Circuit Judges.
Court
- United States Ninth Circuit
Counsel
- For Appellant:
- Franklin T. Bigelow, Jr., Klicka, Parrish & Bigelow, Pasadena, CA, for appellant Estate of Virginia A. Bigelow.
- For Appellees:
- Jonathon S. Cohen and Michael J. Haungs, United States Department of Justice, Tax Division, Washington DC, for appellee Commissioner of Internal Revenue.