ESTATE and DONORS TAX

1) LORENZO POSADAS
A transmission by inheritance is taxable at the time of the predecessor's death,
notwithstanding the postponement of the actual possession or enjoyment of the
estate
by the beneficiary, and the tax measured bay the value of the property transmitted at
that time regardless of its appreciation or depreciation. The tax therefore is upon
transmission or the transfer or devolution of property of a decedent, made effective
by
his death.
The compensation of a trustee, earned, not in the administration of the estate, but in
the management thereof for the benefit of the legatees or devisees, does not come
properly within the class or reason for exempting administration expenses.
That inheritance taxation is governed by the statute in force at the time of the death
of
the decedent.
One liner: the phrase "judicial expenses of the testamentary or intestate proceedings"
does not include the compensation paid to a trustee of the decedent's estate when it
appeared that such trustee was appointed for the purpose of managing the decedent's
real estate for the benefit of the testamentary heir.
tax.