Friedman v. Commissioner
United States Tax Court
The decedent created an irrevocable trust in 1930, at the age of 72, for the benefit of nephews and nieces and their children. She died in 1942 at the age of 85 and was survived by all of the nephews and nieces and their children who were living in 1930. The decedent retained a life estate in the trust, trust income being payable to her, but she did not retain any reversionary interest in the trust corpus.
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The decedent created an irrevocable trust in 1930, at the age of 72, for the benefit of nephews and nieces and their children. She died in 1942 at the age of 85 and was survived by all of the nephews and nieces and their children who were living in 1930. The decedent retained a life estate in the trust, trust income being payable to her, but she did not retain any reversionary interest in the trust corpus. No other remaindermen were named to take the trust assets in the event the grantor survived all of the designated remaindermen. Held, that the value of the trust corpus is not to be…
1Opinion of the Court
Estate of Nettie Friedman, Deceased, Louis K. Friedman, Executor, Petitioner, v. Commissioner of Internal Revenue, Respondent
Friedman v. Commissioner
Docket No. 9484
United States Tax Court
8 T.C. 68; 1947 U.S. Tax Ct. LEXIS 316;
January 17, 1947, Promulgated
Decision will be entered under Rule 50.
The decedent created an irrevocable trust in 1930, at the age of 72, for the benefit of nephews and nieces and their children. She died in 1942 at the age of 85 and was survived by all of the nephews and nieces and their children who were living in 1930. The decedent retained a life estate in the trust,…
2Cases cited14 opinions
- Helvering v. HallockSupreme Court of the United States · 1940
- Reinecke v. Northern Trust Co.Supreme Court of the United States · 1929
- May v. HeinerSupreme Court of the United States · 1930
- Fidelity-Philadelphia Trust Co. v. RothensiesSupreme Court of the United States · 1945
- Commissioner v. Estate of FieldSupreme Court of the United States · 1945
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