In Estate of Russell Badgett Jr. v. Commissioner, the Tax Court held that the decedent had property interests in form of the values of his 2011 and 2012 Federal income tax refunds and consequently the refunds are included in the value of decedent’s gross estate for Federal estate tax purposes.

See full opinion at Estate of Russell Badgett, Jr., Deceased, Bentley Badgett, Jr., Executor

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.