Lehman v. Commissioner
United States Board of Tax Appeals
Several years prior to his death the decedent by two trust indentures conveyed certain assets in trust, the income from which was to be paid to his brother for life, and thereafter to his brother's two children. Simultaneously, the decedent's brother by two identical trust indentures conveyed like assets in trust, the income from which was to be paid to the decedent for life, and thereafter to the decedent's two children.
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Several years prior to his death the decedent by two trust indentures conveyed certain assets in trust, the income from which was to be paid to his brother for life, and thereafter to his brother's two children. Simultaneously, the decedent's brother by two identical trust indentures conveyed like assets in trust, the income from which was to be paid to the decedent for life, and thereafter to the decedent's two children. The trusts were all irrevocable and no part of the trust estates created by the decedent was ever to revert to him or his estate. The decedent had the right, however, to…
1Opinion of the Court
OPINION.
Smith :
This is a proceeding for the redetermination of a deficiency-in estate tax in the amount of $734,927.19, only $268,113.57 of which is in controversy.
The petitioners are the executors of the estate of Harold M. Lehman, who died a resident of the city of New York on November 14, 1933. The executors filed an estate tax return for the decedent which showed a net estate of approximately $5,000,000. Upon the audit of the estate tax return the respondent added to the gross estate $715,-844.20 representing the value, at the date of death, of the assets of two trust estates created by…
2Cases cited13 opinions
- Knowlton v. MooreSupreme Court of the United States · 1900
- United States v. WellsSupreme Court of the United States · 1931
- Reinecke v. Northern Trust Co.Supreme Court of the United States · 1929
- Nichols v. CoolidgeSupreme Court of the United States · 1927
- Hassett v. WelchSupreme Court of the United States · 1938
8 more not listed; retrieve them via the Exa API.
3Cited by29 opinions
- Gregory v. CommissionerUnited States Tax Court · 1963
- Cuddihy v. CommissionerUnited States Tax Court · 1959
- Estate of Florence B. Moreno, Deceased, Harriet Moreno Bischoff and St. Louis Union Trust Company, Executors v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1958
- Krause v. CommissionerUnited States Tax Court · 1972
- Estate of Ridgway v. CommissionerUnited States Tax Court · 1960
24 more not listed; retrieve them via the Exa API.