Walker v. Commissioner
United States Tax Court
By his will, John Walker created a trust, gave Susan C. Walker, his widow, the net income therefrom for life and gave his son, Henry P. Walker, a limited power of appointment of a one-fourth share of the trust, exercisable in the event Henry should die without issue surviving him.
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By his will, John Walker created a trust, gave Susan C. Walker, his widow, the net income therefrom for life and gave his son, Henry P. Walker, a limited power of appointment of a one-fourth share of the trust, exercisable in the event Henry should die without issue surviving him. Henry died without issue and, by his will, he exercised the power of appointment, directing that the one-fourth share of the trust be held in further trust by James E. MacCloskey, Jr., as trustee, to pay the income of the one-fourth share, one-third to a sister of Henry for life and, during the sister's lifetime, to…
1Opinion of the Court
Trust of John Walker, Deceased, Fidelity Trust Company, Trustee, Petitioner, v. Commissioner of Internal Revenue, Respondent
Walker v. Commissioner
Docket No. 60187
United States Tax Court
30 T.C. 278; 1958 U.S. Tax Ct. LEXIS 194;
May 14, 1958, Filed
Decision will be entered for the respondent.
By his will, John Walker created a trust, gave Susan C. Walker, his widow, the net income therefrom for life and gave his son, Henry P. Walker, a limited power of appointment of a one-fourth share of the trust, exercisable in the event Henry should die without issue surviving him. Henry died without issue…
2Cases cited9 opinions
- Freuler v. HelveringSupreme Court of the United States · 1934
- Walker EstateSupreme Court of Pennsylvania · 1954
- Whitehead v. CommissionerUnited States Tax Court · 1944
- Commissioner of Internal Revenue v. Citizens & Southern Nat. BankCourt of Appeals for the Fifth Circuit · 1945
- Bruner v. CommissionerUnited States Tax Court · 1944
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