Houghteling v. Commissioner
United States Board of Tax Appeals
Under the law of Illinois, the place of the transaction herein, a trust may not be terminated by the consent and agreement of the trustees and the beneficiaries holding vested interests where there are contingent interests in he trust which can not be determined until the happending of certain events.
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Under the law of Illinois, the place of the transaction herein, a trust may not be terminated by the consent and agreement of the trustees and the beneficiaries holding vested interests where there are contingent interests in he trust which can not be determined until the happending of certain events. Under the terms of the trust instrument in the instant case the decedent settlor at the date of her death had the power, in conjunction with the two beneficiaries having vested interests, to revoke the said trust. One of the above beneficiaries had two children who had contingent interests which…
1Opinion of the Court
VIRGINIA L. HOUGHTELING, HELEN L. RICHARDSON ABDILL AND THE SECOND NATIONAL BANK OF DANVILLE, ILLINOIS, EXECUTORS OF THE ESTATE OF HELEN A. CANNON, DECEASED, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Houghteling v. Commissioner
Docket No. 89698.
United States Board of Tax Appeals
40 B.T.A. 508; 1939 BTA LEXIS 842;
August 30, 1939, Promulgated
Under the law of Illinois, the place of the transaction herein, a trust may not be terminated by the consent and agreement of the trustees and the beneficiaries holding vested interests where there are contingent interests in he trust which…
2Cases cited3 opinions
- Helvering v. City Bank Farmers Trust Co.Supreme Court of the United States · 1935
- Helvering v. HelmholzSupreme Court of the United States · 1935
- Houghteling v. CommissionerUnited States Board of Tax Appeals · 1939