Dewees v. Commissioner
United States Tax Court
Petitioner's father created an inter vivos short term trust on May 16, 1924, which he extended several times. Under the terms of the trust the grantor retained at all times the right to change the beneficiaries and to substitute new beneficiaries, and to withdraw amounts from the principal not exceeding $ 50,000. The trust income was payable to the grantor, and, if the trust terminated prior to his death, the principal was distributable to him.
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Petitioner's father created an inter vivos short term trust on May 16, 1924, which he extended several times. Under the terms of the trust the grantor retained at all times the right to change the beneficiaries and to substitute new beneficiaries, and to withdraw amounts from the principal not exceeding $ 50,000. The trust income was payable to the grantor, and, if the trust terminated prior to his death, the principal was distributable to him. Upon the death of the grantor in 1935 the trustee distributed to petitioner certain securities out of the trust corpus in distribution of her share of…
1Opinion of the Court
Edith Hilles Dewees, Petitioner, v. Commissioner of Internal Revenue, Respondent
Dewees v. Commissioner
Docket No. 106231
United States Tax Court
1 T.C. 791; 1943 U.S. Tax Ct. LEXIS 208;
March 17, 1943, Promulgated
Decision will be entered for the respondent.
Petitioner's father created an inter vivos short term trust on May 16, 1924, which he extended several times. Under the terms of the trust the grantor retained at all times the right to change the beneficiaries and to substitute new beneficiaries, and to withdraw amounts from the principal not exceeding $ 50,000. The trust income was payable to…
2Cases cited1 opinion
- Dewees v. CommissionerUnited States Tax Court · 1943