(Download) "State Ex Rel. Brophy v. District Court" by Supreme Court of Montana # eBook PDF Kindle ePub Free
eBook details
- Title: State Ex Rel. Brophy v. District Court
- Author : Supreme Court of Montana
- Release Date : January 19, 1934
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 64 KB
Description
APPEAL & ERROR, Appeal from Order Determining Inheritance Tax — WILLS, Gifts of Shares of Corporate Stock — CORPORATIONS, Family Corporation, Intent of Incorporators — GIFTS, In Contemplation of Death, To Evade or Avoid Inheritance Tax Laws, Motive or Intent of Donor, Gifts of Stock in Family Corporation to Next-of-Kin and Relatives — TAXATION, Inheritance Tax, Deductions Allowable, Charges for Services in Accounting, Charges for Necessary Services Rendered in Probate of Decedents Estate — EVIDENCE, Presumption that Transfer or Gift Made Within Three Years Prior to Death Made in Contemplation of Death, Sufficiency of — TRIAL, Courts Findings Sustained by Substantial Evidence — WORDS & PHRASES, "Ordinary Expenses of Administration". 1. Appeal and Error — Substantial evidence rule. The trial courts order must be upheld if its findings are sustained by substantial evidence. 2. Taxation — Wills — Evidence — Motive of donor in light of death — Test as to contemplation of death. To determine whether or not a gift is subject to inheritance tax as made in contemplation of death, the test to be applied is to ascertain the dominant motive of the donor in the light of his bodily and mental condition, and the best evidence of the decedents state of mind at the time and his reasons for making the transfers are the statements and expressions of the decedent himself. 3. Taxation — Gifts — Corporate stock. Evidence sustained finding gifts made not in contemplation of death. Although decedent had transferred his farm to a family corporation formed by him less than two years before his death and had given shares of stock to his wife and children, and in his will ten months later, had given his entire estate to his wife stating that his children had already been provided for, evidence sustained finding that the gifts of shares of stock had not been made in contemplation of death but for purposes associated with life, and were not subject to inheritance tax. 4. Taxation — Words & Phrases "Ordinary expenses of administration". Under inheritance tax statute permitting deduction for "ordinary expenses of administration", where decedents estate consisted of stock in closely held corporation, and it was necessary to have accountant make an audit to ascertain book value of assets and stock since stock had no market value, $500 for accounting services Page 396 was ordinary expense of administration, and was deductible though never allowed or paid.
 "State Ex Rel. Brophy v. District Court" by Supreme Court of Montana # eBook PDF Kindle ePub Free){kind=link}