Outwin v. Commissioner
United States Tax Court
Edson S. Outwin created four irrevocable trusts under which he was to be the sole potential beneficiary during his lifetime. The trustees were authorized to distribute income or corpus to him in their absolute and uncontrolled discretion. His wife, Mary M. Outwin, was named a beneficiary in the event she survived her husband. The trust agreements further provided that all discretionary distributions to Edson S. Outwin required the prior written consent of his wife.
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Edson S. Outwin created four irrevocable trusts under which he was to be the sole potential beneficiary during his lifetime. The trustees were authorized to distribute income or corpus to him in their absolute and uncontrolled discretion. His wife, Mary M. Outwin, was named a beneficiary in the event she survived her husband. The trust agreements further provided that all discretionary distributions to Edson S. Outwin required the prior written consent of his wife. Parallel provisions were incorporated in an irrevocable trust created by Mary M. Outwin. Under her trust agreement any…
1Opinion of the Court
Dawson, Judge:
In these consolidated cases, respondent determined deficiencies in petitioners’ Federal gift tax for the year 1969 as follows:
Petitioner Docket No. Deficiency
Mary M. Outwin 1869-77 $167,895.09
Edson S. Outwin 1870-77 167,895.09
The only issue presented for decision is whether certain transfers in trust made by each petitioner during 1969 constituted taxable gifts for purposes of section 2501.1
FINDINGS OF FACT
Some of the facts have been stipulated and are found accordingly. The stipulation of facts and accompanying exhibits are incorporated herein by this reference.
Edson S. Outwin…
2Cases cited31 opinions
- Estate of Sanford v. CommissionerSupreme Court of the United States · 1939
- Burnet v. GuggenheimSupreme Court of the United States · 1933
- Estate of Mandels v. CommissionerUnited States Tax Court · 1975
- State Street Bank & Trust Co. v. ReiserMassachusetts Appeals Court · 1979
- Greenwich Trust Co. v. TysonSupreme Court of Connecticut · 1942
26 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Estate of Paxton v. CommissionerUnited States Tax Court · 1986
- Estate of German v. United StatesUnited States Court of Claims · 1985
- Hemphill v. ShoreSupreme Court of Kansas · 2012
- Estate of Vak v. CommissionerUnited States Tax Court · 1991
- Estate of Paxton v. CommissionerUnited States Tax Court · 1986
1 more not listed; retrieve them via the Exa API.