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Rev. Rul. 54-446


Rev. Rul. 54-446; 1954-2 C.B. 303

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Citations: Rev. Rul. 54-446; 1954-2 C.B. 303
Rev. Rul. 54-446

Decedent and his wife were parties to an antenuptial agreement whereunder she renounced and relinquished any marital rights she might acquire in his property or estate by reason of their marriage, and he, in turn, agreed to leave her certain property by will at his death. In his will decedent bequeathed his wife property different from but of a much greater value than that to which she was entitled under the antenuptial agreement, specifically providing that such bequests were in lieu of any rights she might have in and to property of his estate under such agreement. Section 812(b) of the Internal Revenue Code of 1939 provides that a requishment or promised relinquishment of dower or of a statutory estate created in lieu of dower or other marital rights is not to any extent a consideration in money or money's worth. Accordingly, any claim asserted against the estate by reason of such antenuptial agreement will not be allowable as a deduction under section 812(b) of the Internal Revenue Code. However, the full value of the interest given in satisfaction or in lieu of the wife's rights under the antenuptial agreement is considered as having `passed from the decedent to his surviving spouse,' and if such interest otherwise satisfies all statutory requirements, the estate tax marital deduction authorized by section 812(e) of the Code will be allowed.

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    English
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