Commercial Nat'l Bank v. Commissioner
United States Board of Tax Appeals
1. TRANSFERS IN CONTEMPLATION OF DEATH. - A transfer of property to permit the decedent's son to expand a profitable business was not made in contemplation of death.
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1. TRANSFERS IN CONTEMPLATION OF DEATH. - A transfer of property to permit the decedent's son to expand a profitable business was not made in contemplation of death. Other transfers held to have been in contemplation of death. 2. TRANSFERS WITHIN SECTION 302 OF THE REVENUE ACT OF 1926. - The decedent had received certain money from two of his sons under an agreement which permitted him to invest the money and retain the income, but required him to return the principal to the sons. Since the decedent held the funds not in his own right but only as trustee, his transfer of those funds to…
1Opinion of the Court
*242OPINION.
Murdock :
The first transfer in point of time which the Commissioner has determined was in contemplation of death, was the transfer by the decedent to his son Thomas of certain bonds of the par value of $192,500. That transfer was made in 1917 about nine years before the decedent died, at a time when he was about seventy-nine years of age. The decedent, up to that time, had always been a man of unusual strength and vigor. His health, aside from some minor chronic ailments, had been excellent. He was an active man. His *243advanced age is the only circumstance which might indicate that this…
2Cases cited7 opinions
- Phillips v. CommissionerSupreme Court of the United States · 1931
- Blair v. CommissionerSupreme Court of the United States · 1937
- Freuler v. HelveringSupreme Court of the United States · 1934
- United States v. RobbinsSupreme Court of the United States · 1926
- Margolin v. United StatesSupreme Court of the United States · 1925
2 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Estate of Gerard v. CommissionersUnited States Tax Court · 1972
- Commissioner of Internal Revenue v. Henderson's EstateCourt of Appeals for the Fifth Circuit · 1945
- Commercial Nat'l Bank v. CommissionerUnited States Board of Tax Appeals · 1937
- Estate of Boyd W. Morgan v. CommissionerUnited States Tax Court · 1949
- Estate of Gerard v. CommissionersUnited States Tax Court · 1972
2 more not listed; retrieve them via the Exa API.