Estate of Vissering v. Commissioner
United States Tax Court
Decedent, a cotrustee of a family trust established by his mother, was a beneficiary of the trust under a provision that allowed an invasion of the trust principal as "required for [his] continued comfort, support, maintenance, or education." Decedent was incapacitated, and decedent's daughter was appointed as guardian of his person and as conservator of his estate.
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Decedent, a cotrustee of a family trust established by his mother, was a beneficiary of the trust under a provision that allowed an invasion of the trust principal as "required for [his] continued comfort, support, maintenance, or education." Decedent was incapacitated, and decedent's daughter was appointed as guardian of his person and as conservator of his estate. Held, decedent possessed at his death a general power of appointment over the principal of the trust within the meaning of sec. 2041(a)(2), so that the value of the trust principal is includable in the value of decedent's gross…
1Opinion of the Court
OPINION
HALPERN, Judge:*
By notice of deficiency dated November 17, 1988, respondent determined a deficiency in petitioner’s Federal estate tax in the amount of $708,320.07. The value of certain shares of stock having been agreed to previously by the parties, the only issue presented for decision is whether the decedent, Norman H. Vissering (decedent), possessed at his death a general power of appointment over the principal of a family trust. If decedent possessed such power, then the value of that principal must be included in the value of the gross estate. The parties have agreed that, if…
2Cases cited27 opinions
- Commissioner v. Estate of BoschSupreme Court of the United States · 1967
- Morgan v. CommissionerSupreme Court of the United States · 1940
- Horace S. Miller, Jr. And Isabel M. Campbell, Co-Executors of the Estate of Isabella Steel Miller, Deceased v. United StatesCourt of Appeals for the Third Circuit · 1968
- Strite v. McGinnesCourt of Appeals for the Third Circuit · 1964
- Mesler v. HollyDistrict Court of Appeal of Florida · 1975
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3Cited by2 opinions
- Estate of Sullivan v. CommissionerUnited States Tax Court · 1993
- Estate of Vissering v. CommissionerUnited States Tax Court · 1991