McKeon v. Commissioner
United States Tax Court
The decedent and his wife were separated but were not divorced. They entered into a separation agreement under which the decedent established a trust, known as Trust B, the income of which was to be used for the support of his wife and their two children.
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The decedent and his wife were separated but were not divorced. They entered into a separation agreement under which the decedent established a trust, known as Trust B, the income of which was to be used for the support of his wife and their two children. In the separation agreement, there was settlement of property interests; the wife relinquished all her interest in the decedent's estate and she accepted the provisions made under the trust as full satisfaction of her right to claim support from the decedent. Held: 1. The value of the corpus of Trust B is includible in decedent's estate…
1Opinion of the Court
OPINION.
Harron, Judge:
Issue 1.
The first question to be decided is whether the value at the date of the decedent’s death of the corpus of Trust B is includible in the gross estate because of the provisions of section 811 (c) (1) (B) of the 1939 Code.1. The value of the trust corpus is not in dispute.
The petitioners concede that the decedent was under a continuing legal obligation to support his wife and children and that under the trust, instrument and the separation agreement, the income of Trust B was for the support and maintenance of the wife and children. The petitioners' concede,…
2Cases cited18 opinions
- Converse v. CommissionerUnited States Tax Court · 1945
- Helvering v. Mercantile-Commerce Bank & Trust Co.Court of Appeals for the Eighth Circuit · 1940
- Helvering v. United States Trust Co.Court of Appeals for the Second Circuit · 1940
- Fry v. CommissionerUnited States Tax Court · 1947
- Commissioner of Internal Revenue v. ConverseCourt of Appeals for the Second Circuit · 1947
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3Cited by1 opinion
- McKeon v. CommissionerUnited States Tax Court · 1956