Faulkin v. Commissioner
United States Board of Tax Appeals
1. The will of George H. Faulkin, after giving the use, income, rents, and profits of his real and personal property to his wife, provided, in part, as follows: "3rd.
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1. The will of George H. Faulkin, after giving the use, income, rents, and profits of his real and personal property to his wife, provided, in part, as follows: "3rd. It is my will that upon the youngest of my children arriving of lawful age that all my estate both real and personal shall be divided equally among my said wife and my children share and share alike so that each of my children and my said wife shall receive an equal amount to be held by her and them respectively in fee simple and absolutely, and in case of the death of any of said children their share shall go to their legal…
1Opinion of the Court
*1208OPINION.
Sieekin :
This proceeding arises as a result of the determination of the respondent that under the wills of George H. Faulkin and Catherine M. Faulkin their children received vested interests in the realty of those two persons immediately upon their deaths, and that certain transactions entered into by the children in 1921 and 1922, during which deeds were executed by some of the children to others, covering the realty in the two estates, constituted sales of such realty resulting in taxable gains to the children who are petitioners in this case. The petitioners contend that under the…
2Cases cited25 opinions
- Scofield v. OlcottIllinois Supreme Court · 1887
- Ducker v. BurnhamIllinois Supreme Court · 1893
- Carper v. CrowlIllinois Supreme Court · 1894
- Kellett v. ShepardIllinois Supreme Court · 1891
- Armstrong v. BarberIllinois Supreme Court · 1909
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