Summary
Decedent owned 71.43% of the stock of a law firm (CSB) that specialized in personal injury law, with earnings based on contingent fees.
See Also
Estate of Cartwright v. Commissioner
At issue is whether life insurance proceeds were paid to decedent's estate solely to redeem his CSB stock, as petitioner contends, or partly for his CSB stock and partly for any claims for cases or work in process, as respondent contends.