Bullock v. Commissioner of Corporations & Taxation

By the will of Ellen F. Kennedy, the residue of her estate was given in trust to the petitioner, and to Walter S. G. Kennedy, her husband, to pay the net income to her husband during his life and on his death to pay over (together with other payments to other remaindermen) $75,000 of the principal of the trust fund to the Proprietors of the Rural Cemetery in Worcester for the erection, ornamentation and furnishing of a chapel suitable for the holding therein of burial services, the chapel to be erected in the cemetery of said proprietors in Worcester. Walter S. G. Kennedy died in June, 1924.…