Bryant v. Commissioner
United States Tax Court
Petitioner is a secondary income beneficiary and remainderman of a testamentary trust. In the taxable years 1943 and 1944 the trustee received income of the trust which was currently distributable to petitioner.
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Petitioner is a secondary income beneficiary and remainderman of a testamentary trust. In the taxable years 1943 and 1944 the trustee received income of the trust which was currently distributable to petitioner. In 1944 the trustee and petitioner, in lieu of a final judicial accounting, settled the accounts of the trustee, and final distribution was made thereunder on April 3, 1944. Held: (1) The trust existed and the trustee, therefore, continued to be governed by the terms of the trust for a reasonable period following the death of the life beneficiary, and the agreement of settlement of…
1Opinion of the Court
Edith M. Bryant, Petitioner, v. Commissioner of Internal Revenue, Respondent
Bryant v. Commissioner
Docket No. 20667
United States Tax Court
14 T.C. 127; 1950 U.S. Tax Ct. LEXIS 284;
January 31, 1950, Promulgated
Decision will be entered under Rule 50.
Petitioner is a secondary income beneficiary and remainderman of a testamentary trust. In the taxable years 1943 and 1944 the trustee received income of the trust which was currently distributable to petitioner. In 1944 the trustee and petitioner, in lieu of a final judicial accounting, settled the accounts of the trustee, and final distribution was…
2Cases cited13 opinions
- Freuler v. HelveringSupreme Court of the United States · 1934
- Trust Under the Will of Bingham v. CommissionerSupreme Court of the United States · 1945
- In Re the Accounting of HaleNew York Court of Appeals · 1931
- In Re the Accounting of BeeckmanNew York Court of Appeals · 1930
- In re the Judicial Settlement of the Account of LydonAppellate Division of the Supreme Court of the State of New York · 1923
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