Koshland v. Commissioner
United States Tax Court
Decedent in 1922 created a trust which he later amended in 1923. The unrestricted power was retained in the decedent, as settlor, in conjunction with his wife, the life beneficiary, to alter and amend the trust. Held: (1) The value of the remainder interests transferred is includible in decedent's gross estate under section 811 (d) (2) of the code, decedent's wife having no substantial adverse interest in remainders.
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Decedent in 1922 created a trust which he later amended in 1923. The unrestricted power was retained in the decedent, as settlor, in conjunction with his wife, the life beneficiary, to alter and amend the trust. Held: (1) The value of the remainder interests transferred is includible in decedent's gross estate under section 811 (d) (2) of the code, decedent's wife having no substantial adverse interest in remainders. (2) The application of section 811 (d) (2) in the present proceeding does not violate the due process clause of the Fifth Amendment of the Constitution. (3) In computation of the…
1Opinion of the Court
OPINION.
Kern, Judge:
The principal issue in this proceeding is whether the value of the remainder interest in the trust created and amended prior to 1924 is includible in decedent’s gross estate. One of the grounds urged by respondent for inclusion is that the transfer was one in which the decedent reserved the power- to alter and amend the trust within the meaning of section 811 (d) of the Internal Revenue Code1 and the applicable regulations.2 Petitioner seeks to meet this argument by a three-fold attack. First, it is urged that after the 1923 amendments to the trust the right to amend…
2Cases cited9 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
- Helvering v. City Bank Farmers Trust Co.Supreme Court of the United States · 1935
- Du Pont v. CommissionerUnited States Tax Court · 1943
- Bartman v. CommissionerUnited States Tax Court · 1948
4 more not listed; retrieve them via the Exa API.
3Cited by15 opinions
- Huntington Nat'l Bank v. CommissionerUnited States Tax Court · 1949
- Dix v. CommissionerUnited States Tax Court · 1966
- Estate of Bell v. CommissionerUnited States Tax Court · 1973
- Green v. CommissionerUnited States Tax Court · 1954
- McMurtry v. CommissionerUnited States Tax Court · 1951
10 more not listed; retrieve them via the Exa API.