U.S. Court of Appeals for the Fifth Circuit, 1977

The Fort Worth National Bank, Independent of the Estate of Mary Lard, Deceased v. United States

U.S. Court of Appeals for the Fifth Circuit · Decided May 13, 1977 · Godbold, Tjoflat, Hill

552 F.2d 158; 40 A.F.T.R.2d (RIA) 77 (Federal Reporter, Second Series)

Counsel

Frank D. McCown, U. S. Atty., Fort Worth, Tex., Scott P. Crampton, Asst. Atty. Gen., Michael J. Roach, Atty., Gilbert F. Andrews, Act. Chief, Appellate Sec., Michael L. Paup, William S. Estabrook, Attys., U. S. Dept. of Justice, Tax Div., Washington, D.C., for defendant-appellant., Richard Lee Brown, Terry Gardner, Jay S. Garrett, Fort Worth, Tex., for plaintiffappellee.

Cases that cite this one

2 later published cases cite this decision.

Estate of Proctor v. Commissioner (United States Tax Court 1994)
A. H. & R. S. Coal Corp. v. United States (District Court, W.D. Pennsylvania 1978)

This list shows which later cases cite this one. It does not say how they treated it, and no review of that has been done. Not a substitute for Shepard’s or KeyCite — verify before relying.

Opinion

PER CURIAM:

This is an appeal by the Government of a decision of the district court granting a refund to the estate of Mary Lard. The main issue in the lower court was whether the value of a remainder interest in a wasting asset given to charity was sufficiently definite to be deductible. The district court held that it was and entered judgment for the trustee. Its thorough opinion is set out at 396 F.Supp. 337 (N.D.Tex. 1975).

On appeal, the Government does not challenge the finding of the district court that the value of the remainder interest was sufficiently definite. Instead, it claims that the district court in making its valuation failed to take into account the fact that the charity was not to receive a possessory interest for almost five years (according to actuarial tables). Our examination reveals, however, that the .district court correctly calculated the value of the charitable remainder interest. See generally 26 C.F.R. §§ 20.2031-7 & 20.2031-10 (1976).

AFFIRMED.

Case-law data current through December 31, 2025. Source: CourtListener bulk data.