Clowe v. Commissioner
United States Tax Court
1. Estate Tax -- Rule Against Perpetuities -- Vesting -- Interpretation. -- The rule against perpetuities was not violated where an ambiguous provision of a deed of trust could be read as providing that the remainder interest should go to persons ascertainable at the death of a person in being at the time the trust was created. 2. Estate Tax -- Power to Terminate -- Section 811(d)(1). -- The decedent, the grantor of an inter vivos trust, had a power to terminate within the…
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1. Estate Tax -- Rule Against Perpetuities -- Vesting -- Interpretation. -- The rule against perpetuities was not violated where an ambiguous provision of a deed of trust could be read as providing that the remainder interest should go to persons ascertainable at the death of a person in being at the time the trust was created. 2. Estate Tax -- Power to Terminate -- Section 811(d)(1). -- The decedent, the grantor of an inter vivos trust, had a power to terminate within the meaning of section 811(d)(1) where, in conjunction with the other trustees, he could sell trust property, under the trust…
1Opinion of the Court
Estate of Frank Clowe, Deceased, Martha Clowe Dickinson, Executrix, Petitioner, v. Commissioner of Internal Revenue, Respondent
Clowe v. Commissioner
Docket No. 26779
United States Tax Court
17 T.C. 1467; 1952 U.S. Tax Ct. LEXIS 252;
March 12, 1952, Promulgated
Decision will be entered under Rule 50.
1. Estate Tax -- Rule Against Perpetuities -- Vesting -- Interpretation. -- The rule against perpetuities was not violated where an ambiguous provision of a deed of trust could be read as providing that the remainder interest should go to persons ascertainable at the death of a person in being at the…
2Cases cited22 opinions
- Commissioner v. Estate of HolmesSupreme Court of the United States · 1946
- Boyd v. Frost National Bank of S.A.Texas Supreme Court · 1946
- Industrial Trust Co. v. Commissioner of Internal Rev.Court of Appeals for the First Circuit · 1947
- Rust v. RustCourt of Appeals of Texas · 1948
- Hurd v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1947
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