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IN RE ESTATE OF STODDARD

No. 42190.

81 Wn.2d 226 (1972)

500 P.2d 1249

In the Matter of the Estate of GEORGE WELLINGTON STODDARD, Deceased. MARJORIE CLAIRE STODDARD et al., Respondents, v. THE DEPARTMENT OF REVENUE, Appellant.

The Supreme Court of Washington, En Banc.

September 14, 1972.

Attorney(s) appearing for the Case

Slade Gorton, Attorney General, Henry W. Wager and Timothy R. Malone, Assistants, for appellant.

Preston, Thorgrimson, Starin, Ellis & Holman and Susan F. French, for respondents.

HALE, J.

A provision of the inheritance tax statutes (RCW 83.16.080) exempts life insurance proceeds up to $40,000 from taxation. Another section (RCW 83.04.013), authorizes the deduction of debts owed by the decedent. When the two are read together, is it proper to treat a loan against a life insurance policy as a debt of the decedent, or should it be regarded for inheritance tax purposes as no more than a reduction of the life insurance proceeds?

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