Stone v. Commissioner
United States Board of Tax Appeals
1. By an instrument in writing dated July 18, 1923, the decedent transferred to a trustee certain corporate stock, to be held and used by the trustee for the benefit of persons named therein. The terms of the trust agreement were subject to be added to or modified by the joint written agreement of the decedent and five of the seven named beneficiaries.
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1. By an instrument in writing dated July 18, 1923, the decedent transferred to a trustee certain corporate stock, to be held and used by the trustee for the benefit of persons named therein. The terms of the trust agreement were subject to be added to or modified by the joint written agreement of the decedent and five of the seven named beneficiaries. Decedent died in 1925. Held, that the value of said stock, constituting the corpus of the trust, is not includable in the value of the decedent's gross estate, under the provisions of section 302(d) of the Revenue Act of 1924. Colonial Trust…
1Opinion of the Court
*4OPINION.
Trammell :
The first issue for consideration here is whether or not the value of the corporate stock transferred by the decedent to a trustee under the trust agreement of July 18,1923, should be included in determining the value of the gross estate of the decedent for purposes of the estate tax, under the provisions of section 302 (d) of the Eevenue Act of 1924.
Paragraph 15 of the trust instrument, set out in our findings of fact above, provided that the terms of said instrument might be added to or modified by the joint written agreement of the decedent and five of the seven named…
2Cases cited6 opinions
- 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
- Warner v. LittlefieldMichigan Supreme Court · 1891
- Parsons v. ClarkMichigan Supreme Court · 1886
1 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Lit v. CommissionerUnited States Board of Tax Appeals · 1933
- Squire v. DenmanDistrict Court, N.D. Ohio · 1936
- City Bank Farmers Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1934
- Stevens v. CommissionerUnited States Board of Tax Appeals · 1933
- Dellevie v. CommissionerUnited States Tax Court · 1952
2 more not listed; retrieve them via the Exa API.