Rosenwasser v. Commissioner
United States Tax Court
In 1930 the decedent, a widow, created a trust of substantially all of her property, with her son as trustee. The trust instrument provided that the net income of the trust should be paid to the grantor during her life and that upon her death the trust assets should be distributed equally among her children; it also provided that the trustee, with the consent of her other two children, might pay to the grantor such further amounts from the principal of the trust estate as…
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In 1930 the decedent, a widow, created a trust of substantially all of her property, with her son as trustee. The trust instrument provided that the net income of the trust should be paid to the grantor during her life and that upon her death the trust assets should be distributed equally among her children; it also provided that the trustee, with the consent of her other two children, might pay to the grantor such further amounts from the principal of the trust estate as the trustee "may deem proper or necessary in order to provide for my maintenance and comfort." No part of the trust…
1Opinion of the Court
OPINION.
SMITH, Judge:
The question presented is whether the corpus of the trust created by the decedent on November 4,1930, which the respondent valued at $117,488.19 at the date of death of the decedent, is includible in her gross estate.
Since the trust was created prior to the Joint Resolution of March 3, 1931, which required the inclusion in the gross estate of property transferred in trust where the income of the trust was payable to the grantor for life, the respondent does not contend that the trust corpus is includible in the gross estate solely because of the reservation by the grantor…
2Cases cited5 opinions
- Hassett v. WelchSupreme Court of the United States · 1938
- May v. HeinerSupreme Court of the United States · 1930
- Bradley v. CommissionerUnited States Tax Court · 1943
- Gallois v. CommissionerUnited States Tax Court · 1945
- In re the Estate of ElyNew York Surrogate's Court · 1935
3Cited by22 opinions
- Estate of Budlong v. CommissionerUnited States Tax Court · 1946
- Toeller v. CommissionerUnited States Tax Court · 1946
- Coulter v. CommissionerUnited States Tax Court · 1946
- Toeller's Estate v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1948
- Frew v. CommissionerUnited States Tax Court · 1947
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