Crosley v. Commissioner
United States Tax Court
Decedent was insured under 25 different life insurance policies. In 1934 he executed an instrument in which he purported to transfer all of these policies to an irrevocable inter vivos trust and thereby divest himself of all right, title, and interest in them.
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Decedent was insured under 25 different life insurance policies. In 1934 he executed an instrument in which he purported to transfer all of these policies to an irrevocable inter vivos trust and thereby divest himself of all right, title, and interest in them. The power of the independent trustees was limited to entering into agreements with the issuing companies with respect to the distribution of the policy proceeds and all matters with respect to the rights of any person under the policies; the designation of beneficiaries of the policies was limited to a small group of members of…
1Opinion of the Court
Estate of Powel Crosley, Jr., Deceased, Martha Page Crosley Kess, Executrix, Petitioner v. Commissioner of Internal Revenue, Respondent
Crosley v. Commissioner
Docket No. 1341-64
United States Tax Court
47 T.C. 310; 1966 U.S. Tax Ct. LEXIS 6;
December 16, 1966, Filed
Decision will be entered under Rule 50.
Decedent was insured under 25 different life insurance policies. In 1934 he executed an instrument in which he purported to transfer all of these policies to an irrevocable inter vivos trust and thereby divest himself of all right, title, and interest in them. The power of the independent trustees…
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