Court Opinion

ID: 9462009
Source: CourtListenerOpinion
Date Created: 2023-08-04 22:29:43.369384+00
Date Added: 2024-06-11T17:37:21.542360
License: Public Domain

ALFRED T. GOODWIN, Circuit Judge,
dissenting:
I agree with the majority that the 3.84 percentage interest Jerre Paxton now holds is modest enough to be “insignificant”. We should not, however, ignore the actuarial probabilities that children will outlive their parents. If Jerre should outlive his parents, his interest is likely to jump to 28.19 per cent. In the reasonable expectation that he will eventually come into nearly a third of the estate, young Paxton might well assume a conservationist role as trustee. A holding action is in his long-range best interest. Accordingly, I would agree with the taxpayer that Jerre’s interest is adverse. If this conclusion is one that Congress finds counterproductive in terms of the revenue, then it is up to Congress to plug the loophole.
I would reverse.