Estate of Jordahl v. Commissioner
United States Tax Court
On Jan. 31, 1931, decedent created a trust and named himself one of three trustees. The corpus of the trust included insurance policies on the decedent's life and other income-producing assets. The trustees were instructed to pay the premiums out of the assets of the trust and to pay over any remaining income to the decedent. At no time was income insufficient to pay the premiums.
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On Jan. 31, 1931, decedent created a trust and named himself one of three trustees. The corpus of the trust included insurance policies on the decedent's life and other income-producing assets. The trustees were instructed to pay the premiums out of the assets of the trust and to pay over any remaining income to the decedent. At no time was income insufficient to pay the premiums. On his death his daughter was to receive the income until she reached age 50 at which time she was to receive the principal. The decedent retained the power to substitute securities, property, and policies "of equal…
1Opinion of the Court
OPINION
Tietjens, Judge:
The Commissioner determined a deficiency of $310,891.80 in the Federal estate tax of Anders Jordahl (hereafter decedent).
The issue for decision is whether any of the assets, including the proceeds of insurance policies on decedent’s life, held in a trust established by decedent are includable in decedent’s gross estate under section 2038 or section 2042.1
This case was fully stipulated pursuant to Rule 122, Tax Court Rules of Practice and Procedure. The facts which we deem necessary for decision will be referred to below.
Petitioners are the executors under the will of…
2Cases cited30 opinions
- United States v. ByrumSupreme Court of the United States · 1972
- Carrier v. . CarrierNew York Court of Appeals · 1919
- In Re the Accounting of LockeNew York Court of Appeals · 1932
- Downe v. CommissionerUnited States Tax Court · 1943
- King v. CommissionerUnited States Tax Court · 1962
25 more not listed; retrieve them via the Exa API.
3Cited by4 opinions
- In re WylyUnited States Bankruptcy Court, N.D. Texas · 2016
- Sue Ann Hunter, Marie Joyce Kotsonis, L. Fargo Richardson and the L. F. Richardson Foundation v. The United States of AmericaCourt of Appeals for the Eighth Circuit · 1980
- Hunter v. United StatesDistrict Court, W.D. Missouri · 1979
- Estate of Jordahl v. CommissionerUnited States Tax Court · 1975