Estate of Lucille P. Shelfer, Essay Example

Mrs. Shelfer specifically hopes to create a distinctive petition to be able to get full ownership of the property that she and her deceased husband owned. In relative connection to the provisions of marital properties [also noted as conjugal properties], she seeks to get what she believes is rightfully hers. In this case, she then contends to the commissioner of internal revenue that she has the right to the full income from the property and yet she should be waived from the taxes that it is noted to be subjected to.

Out of the judges who completed the case, ten of them agreed to the majority decision while six others dissent from it. Through carefully finding out what the meaning of rule 122(a) is in relation to the application of QTIP or Qualified Terminable Interest Property, the majority decided that Mrs. Shelfer is to be given the chance to enjoy the value of the property that she and her deceased husband used to share. This decision is based under the implicative recognition of the clauses of QTIP as part of the trust policy that the she is entitled to.

Most often than not, the value of conjugal property is recognized fully by the court. This is especially in connection with the amicable recognition of QTIP principles, which includes a distinct recognition of the surviving spouse as the prime owner of the property that has been left by the deceased. Along with this is the waiving of the tax that was supposed to be part of the estate being fully transferred under Mrs. Shelfer’s name. In relation to this issue, six of the judges dissented because of the fact that they are letting go an estate tax amounting to more than $2 million dollars. The ones who dissented from the decision sees that the said tax that was placed upon the property was supposed to be a social responsibility of both individuals as they are seen as a couple. Nevertheless, the majority rules that Mrs. Shelfer is now to be considered as a sole owner of the property thus the taxes that were not paid under Mr. Shelfer’s ownership [also recognized to be a conjugal state of ownership] should be waived upon the transfer of the property under Mrs. Shelfer’s name.