Estate of Schildkraut v. Commissioner
United States Tax Court
Decedent's will established a trust of $300,000 from which income to the extent of $12,000 annually was to be paid to his widow for life, and if income from the trust was insufficient to pay the widow $12,000 a year, to the extent of such insufficiency the amount was to be paid out of the trust principal.
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Decedent's will established a trust of $300,000 from which income to the extent of $12,000 annually was to be paid to his widow for life, and if income from the trust was insufficient to pay the widow $12,000 a year, to the extent of such insufficiency the amount was to be paid out of the trust principal. The will further provided that if the widow were required to pay Federal and State income taxes on the sum paid to her from the trust, these taxes should be paid for her from the principal of the trust, and that so long as the widow retained ownership of certain real property, all real…
1Opinion of the Court
Estate of Sol Schildkraut, Deceased, Eugene Schildkraut and Lester Schildkraut, Executors v. Commissioner.
Estate of Schildkraut v. Commissioner
Docket No. 963-64.
United States Tax Court
T.C. Memo 1965-239; 1965 Tax Ct. Memo LEXIS 91; 24 T.C.M. (CCH) 1215; T.C.M. (RIA) 65239;
August 31, 1965
Decedent's will established a trust of $300,000 from which income to the extent of $12,000 annually was to be paid to his widow for life, and if income from the trust was insufficient to pay the widow $12,000 a year, to the extent of such insufficiency the amount was to be paid out of the trust principal. The…
2Cases cited30 opinions
- Ithaca Trust Co. v. United StatesSupreme Court of the United States · 1929
- Henslee v. Union Planters National Bank & Trust Co.Supreme Court of the United States · 1949
- Merchants Nat. Bank of Boston v. CommissionerSupreme Court of the United States · 1943
- Commissioner v. Estate of SternbergerSupreme Court of the United States · 1955
- United States v. Bertha DeanCourt of Appeals for the First Circuit · 1955
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