Boswell v. Commissioner
United States Board of Tax Appeals
1. Where decedent in 1929 transferred certain securities to a trustee to pay the income to himself for life and after his death to his wife and daughter during the life of the wife, the principal to be distributed to decedent's heirs at law and next of kin upon death of the survivor of himself and his wife, and the admitted purpose of the transfer was to protect the property transferred from the hazards of his stock-market operations, decedent being in excellent health at…
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1. Where decedent in 1929 transferred certain securities to a trustee to pay the income to himself for life and after his death to his wife and daughter during the life of the wife, the principal to be distributed to decedent's heirs at law and next of kin upon death of the survivor of himself and his wife, and the admitted purpose of the transfer was to protect the property transferred from the hazards of his stock-market operations, decedent being in excellent health at the time of the transfer and dying in 1933 as a result of acute indigestion, held, the transfer was not made in…
1Opinion of the Court
*972OPINION.
Opper:
Respondent contends, first, that decedent disposed of certain property in contemplation of death. The action involved in this branch of the proceeding is the transfer by trust indenture dated May 22,1929, to the Manufacturers National Bank, of the securities therein described. We are required to determine whether “the impelling cause” for that transfer was decedent’s contemplation of his death. United States v. Wells, 283 U. S. 102. “Contemplation” is defined as the “act of the mind in considering with attention.” Webster’s New International Dictionary, 2d ed. By the trust…
2Cases cited12 opinions
- United States v. WellsSupreme Court of the United States · 1931
- Reinecke v. Northern Trust Co.Supreme Court of the United States · 1929
- Chase National Bank v. United StatesSupreme Court of the United States · 1929
- May v. HeinerSupreme Court of the United States · 1930
- Cyrus H. McCormick v. David BurnetSupreme Court of the United States · 1931
7 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Bailey v. United StatesUnited States Court of Claims · 1939
- Chase Nat. Bank v. United StatesDistrict Court, S.D. New York · 1939
- Boswell v. CommissionerUnited States Board of Tax Appeals · 1938
- Broderick v. CommissionerUnited States Board of Tax Appeals · 1938
- Cain v. CommissionerUnited States Board of Tax Appeals · 1941
7 more not listed; retrieve them via the Exa API.