ESTATE OF FRANKO v. DIR., DIV. OF TAX.


23 N.J. Tax 1 (2006)

ESTATE OF CATHERINE FRANKO, DECEASED, ARNOLD G. SHURKIN AND ANITA V. COSGROVE, EXECUTORS, PLAINTIFFS v. DIRECTOR, DIVISION OF TAXATION, DEFENDANT.

Tax Court of New Jersey

March 3, 2006.


Attorney(s) appearing for the Case

Arnold G. Shurkin, for plaintiff.

Heather Lynn Anderson, for defendant, (Zulima V. Farber, Attorney General of New Jersey, attorney).


KUSKIN, J.T.C.

In this matter, plaintiffs appeal an assessment of New Jersey transfer inheritance tax imposed by defendant Director of the New Jersey Division of Taxation (the "Director"). Plaintiffs' principal contention is that a trust (the "Trust") established under the Will of decedent, Catherine Franko ("Mrs. Franko") created a life estate for the benefit of her surviving husband, Charles R. Franko ("Mr. Franko"). Plaintiffs...

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