MATTER OF OTTO


86 Misc.2d 824 (1976)

In the Matter of The Estate of Carl L. Otto, Deceased.

Surrogate's Court, Nassau County.

February 26, 1976


Attorney(s) appearing for the Case

Pendry, Schneider & Hyde for petitioners. Cullen & Dykman for Cathedral of the Incarnation, Diocese of Long Island, respondent. Louis J. Lefkowitz, Attorney-General, for ultimate charitable beneficiaries. Zola A. Aronson for State Tax Commission.


JOHN D. BENNETT, S.

Following the audit of the Federal estate tax return the Internal Revenue Service disallowed the charitable deduction claimed by the executor for the old-law charitable remainder trust created by decedent's will. This resulted in a Federal estate tax deficiency of $56,414.80. The trustees, in an effort to save the estate the additional Federal estate tax resulting from the denial of the charitable...

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