Estate of Wall v. Commissioner
United States Tax Court
The decedent created three irrevocable inter vivos trusts, as to each of which she retained the right to remove the sole trustee, a corporation qualified to conduct trust business, and substitute a different corporation qualified to conduct trust business. She also retained the right to contribute additional assets to the trusts. She retained no other power, right or interest in the trusts.
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The decedent created three irrevocable inter vivos trusts, as to each of which she retained the right to remove the sole trustee, a corporation qualified to conduct trust business, and substitute a different corporation qualified to conduct trust business. She also retained the right to contribute additional assets to the trusts. She retained no other power, right or interest in the trusts. The trustee's powers to distribute income and principal were essentially not limited by any ascertainable standard. Held, the assets of the trusts are not required to be included in the decedent's gross…
1Opinion of the Court
OPINION
NlMS, Judge:
Respondent determined a $44,948 deficiency in the Federal estate tax due from the Estate of Helen S. Wall. The single issue for decision is whether property held by three irrevocable inter vivos trusts created by the decedent, Helen S. Wall (Mrs. Wall), is includable in her gross estate under section 2036(a)(2) or section 2038(a)(1) because in creating the trusts Mrs. Wall reserved the right to remove the sole trustee, a corporation, and appoint a successor corporate trustee. (All section references are to sections of the Internal Revenue Code in effect at the time of Mrs.…
2Cases cited18 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- United States v. ByrumSupreme Court of the United States · 1972
- United States v. O'MALLEYSupreme Court of the United States · 1966
- Galt v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1954
- Galt v. CommissionerUnited States Tax Court · 1953
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3Cited by4 opinions
- Estate of Wall v. CommissionerUnited States Tax Court · 1994
- Estate of Wall v. CommissionerUnited States Tax Court · 1993
- Estate of Wall v. CommissionerUnited States Tax Court · 1994
- Jason Bontrager v. CommissionerUnited States Tax Court · 2019