Korn v. Commissioner
United States Board of Tax Appeals
Decedent during his lifetime conveyed his remainder interest in his father's estate to a trust, reserving income for life and retaining power to appoint by will the persons among the issue of his father to whom the trustee should distribute the corpus of the trust. In default of exercise of the power of appointment or in default of issue of decedent the trustee was directed to distribute the corpus to four named individuals.
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Decedent during his lifetime conveyed his remainder interest in his father's estate to a trust, reserving income for life and retaining power to appoint by will the persons among the issue of his father to whom the trustee should distribute the corpus of the trust. In default of exercise of the power of appointment or in default of issue of decedent the trustee was directed to distribute the corpus to four named individuals. Decedent failed to exercise the power of appointment and died without surviving issue. Held, the reserved power of appointment was a power to revoke the remainder…
1Opinion of the Court
WILLIAM KORN, ALEXANDER H. ARNSTEIN AND ETHEL LEWIS KORN, AS EXECUTORS OF THE LAST WILL AND TESTAMENT OF RALPH H. KORN, DECEASED, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Korn v. Commissioner
Docket No. 78954.
United States Board of Tax Appeals
35 B.T.A. 1071; 1937 BTA LEXIS 803;
April 30, 1937, Promulgated
Decedent during his lifetime conveyed his remainder interest in his father's estate to a trust, reserving income for life and retaining power to appoint by will the persons among the issue of his father to whom the trustee should distribute the corpus of the trust. In…
2Cases cited23 opinions
- Knowlton v. MooreSupreme Court of the United States · 1900
- Porter v. CommissionerSupreme Court of the United States · 1933
- Elmhurst Cemetery Co. of Joliet v. CommissionerSupreme Court of the United States · 1937
- Simpson v. United StatesSupreme Court of the United States · 1920
- Henry v. United StatesSupreme Court of the United States · 1920
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