Hofheimer v. Commissioner
United States Tax Court
1. Decedent, who died in 1936, and his brother created a trust in 1922, each contributing one-half of the corpus and designating their cousin beneficiary for life, the remainders over of their respective shares to be distributed to the surviving children of each or their issue, per stirpes. The settlors named themselves trustees, with full power of management. They reserved full power to terminate the trust or to amend it as to the life beneficiary.
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1. Decedent, who died in 1936, and his brother created a trust in 1922, each contributing one-half of the corpus and designating their cousin beneficiary for life, the remainders over of their respective shares to be distributed to the surviving children of each or their issue, per stirpes. The settlors named themselves trustees, with full power of management. They reserved full power to terminate the trust or to amend it as to the life beneficiary. Held, that the value of the life estate, to the extent of the one-half interest contributed by decedent, is includable in decedent's gross…
1Opinion of the Court
OPINION.
Kf.kn. Judge:
(1.) The first question is whether the value (as of one year after decedent’s death) of the interest contributed by the decedent to a trust fund of which he and his brother, Arthur, were the settlors and their cousin the beneficiary for life, with remainders over of the principal to their respective children and their issue, was properly in-cludible in the decedent’s gross estate. This gift on trust was made on October 5,1922, and respondent seeks to include decedent’s interest (one-half the corpus) on the ground of the power reserved by the settlors or the survivor “of…
2Cases cited6 opinions
- Helvering v. HallockSupreme Court of the United States · 1940
- Reinecke v. Northern Trust Co.Supreme Court of the United States · 1929
- May v. HeinerSupreme Court of the United States · 1930
- Porter v. CommissionerSupreme Court of the United States · 1933
- Helvering v. City Bank Farmers Trust Co.Supreme Court of the United States · 1935
1 more not listed; retrieve them via the Exa API.
3Cited by20 opinions
- Frances Biddle Trust v. CommissionerUnited States Tax Court · 1944
- Nettleton v. CommissionerUnited States Tax Court · 1945
- Downe v. CommissionerUnited States Tax Court · 1943
- Goodyear v. CommissionerUnited States Tax Court · 1943
- Walker v. CommissionerUnited States Tax Court · 1944
15 more not listed; retrieve them via the Exa API.