Frew v. Commissioner
United States Tax Court
In 1922 the decedent created three irrevocable trusts, the income of which was to be paid absolutely to the named beneficiary.
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In 1922 the decedent created three irrevocable trusts, the income of which was to be paid absolutely to the named beneficiary. The trustees, consisting of the decedent and the Corn Exchange Bank, were empowered in their sole discretion if in their opinion the net income "be insufficient for the proper maintenance and support of said beneficiary, [to] apply to such purposes so much of the respective part of the principal from which said income is derived as they may deem proper." Each trust also contained a "spendthrift" provision, giving the trustees discretionary power in the event of the…
1Opinion of the Court
Estate of Walter E. Frew, Deceased, by Ella Louise Frew, Ralph Peters, Jr., and Dunham B. Sherer, as Executors of His Last Will and Testament, Petitioners, v. Commissioner of Internal Revenue, Respondent
Frew v. Commissioner
Docket No. 9373
United States Tax Court
8 T.C. 1240; 1947 U.S. Tax Ct. LEXIS 175;
June 24, 1947, Promulgated
Decision will be entered under Rule 50.
In 1922 the decedent created three irrevocable trusts, the income of which was to be paid absolutely to the named beneficiary. The trustees, consisting of the decedent and the Corn Exchange Bank, were empowered in their sole…
2Cases cited12 opinions
- Allen v. Trust Co. of Ga.Supreme Court of the United States · 1946
- In Re the Accounting of the Manufacturers National Bank of TroyNew York Court of Appeals · 1936
- Estate of Budlong v. CommissionerUnited States Tax Court · 1946
- In re McVicarAppellate Division of the Supreme Court of the State of New York · 1931
- Toeller v. CommissionerUnited States Tax Court · 1946
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