IN RE MILLARD'S ESTATE

No. 50060.

105 N.W.2d 95 (1960)

In re ESTATE of Frank B. MILLARD, Deceased. UNION BANK AND TRUST COMPANY OF OTTUMWA, Iowa, Trustee, Margaret Ann Hughes, William Millard, and Richard Millard, Appellants, v. IOWA STATE TAX COMMISSION, Appellee.

Supreme Court of Iowa.

September 20, 1960.


Attorney(s) appearing for the Case

Gilmore, Dull & Keith, Ottumwa, for appellants.

Norman A. Erbe, Atty. Gen., Gary S. Gill, Special Asst. Atty. Gen. and Walter W. Rothschild, Gen. Counsel, Des Moines, for appellee.


GARFIELD, Justice.

The question presented is whether an inheritance tax was properly assessed by the state tax commission upon the right of succession to remainder interests in testator's estate, on termination of the life estate, at 10 per cent of the then net value of the property rather than at approximately 75 per cent of such value. From decree approving and fixing the tax at 10 per cent of the then net value, the trustee and remaindermen have appealed.

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