Guitar Trust Estate v. Commissioner
United States Board of Tax Appeals
1. TRUST, OR ASSOCIATION. Where the settlors of a trust were the owners of a large estate consisting of cotton gins, oil wells, farm lands, ranch property, etc., and desired to make a donation to their children and conveyed all their property to trustees for the equal benefit of their said children, after reserving to themselves a child's part, and conferred upon the trustees the power to hold, manage, and operate the property and to sell, invest and reinvest, and prohibited…
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1. TRUST, OR ASSOCIATION. Where the settlors of a trust were the owners of a large estate consisting of cotton gins, oil wells, farm lands, ranch property, etc., and desired to make a donation to their children and conveyed all their property to trustees for the equal benefit of their said children, after reserving to themselves a child's part, and conferred upon the trustees the power to hold, manage, and operate the property and to sell, invest and reinvest, and prohibited the beneficiaries from selling or otherwise disposing of their shares of the trust estate, and no beneficial…
1Opinion of the Court
COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Guitar Trust Estate v. Commissioner
Docket No. 35102.
United States Board of Tax Appeals
25 B.T.A. 1213; 1932 BTA LEXIS 1410;
Promulgated April 21, 1932,
1. TRUST, OR ASSOCIATION. Where the settlors of a trust were the owners of a large estate consisting of cotton gins, oil wells, farm lands, ranch property, etc., and desired to make a donation to their children and conveyed all their property to trustees for the equal benefit of their said children, after reserving to themselves a child's part, and conferred upon the trustees the power to hold, manage,…
2Cases cited4 opinions
- Guitar Trust Estate v. CommissionerUnited States Board of Tax Appeals · 1932
- Scripps v. CommissionerUnited States Board of Tax Appeals · 1925
- Wilson Trust v. CommissionerUnited States Board of Tax Appeals · 1930
- Mayer v. CommissionerUnited States Board of Tax Appeals · 1929