Hughes v. Commissioner
United States Tax Court
The decedent in 1930 transferred certain property in trust, retaining the income for life, with remainder to his five children and their issue per stirpes. No other remainderman was named to take in case the grantor survived all the designated remaindermen. Held, that the value of the trust corpus, as of his death, is not to be included in the gross estate of decedent for estate tax purposes under section 811 (c) of the Internal Revenue Code.
1Opinion of the Court
OPINION.
Leech, Judge:
Petitioner contends that, since the trust instrument made no provision for reversion of the property in the event the decedent outlived all of the remaindermen, the resulting extremely remote possibility of reverter existed only by operation of law and the value of the property, therefore, may not be included in decedent’s estate.
Respondent points to the added fact that the grantor here has retained a life estate. He argues that, although the trust corpus may not be included in decedent’s estate merely because of that fact, as the Joint Resolution of March 3,1931, may not…
2Cases cited11 opinions
- Reinecke v. Northern Trust Co.Supreme Court of the United States · 1929
- Hassett v. WelchSupreme Court of the United States · 1938
- May v. HeinerSupreme Court of the United States · 1930
- Fidelity-Philadelphia Trust Co. v. RothensiesSupreme Court of the United States · 1945
- Commissioner v. Estate of FieldSupreme Court of the United States · 1945
6 more not listed; retrieve them via the Exa API.
3Cited by17 opinions
- Lawrence v. CommissionerUnited States Tax Court · 1957
- Estate of Neal v. CommissionerUnited States Tax Court · 1947
- Friedman v. CommissionerUnited States Tax Court · 1947
- Bradley v. CommissionerUnited States Tax Court · 1947
- Keck v. CommissionerUnited States Tax Court · 1948
12 more not listed; retrieve them via the Exa API.