Tax Commission v. Lamson, Exr.

.ROSS, PJ.

Answering the last contention first — • There can be no taxable reversionary interest in the donor, for the reason that he is dead; there can be no reversion to him, and the indenture provides for other distribution in the event of that contingency.

As to the second contention: — The instrument was executed at a time when the donor had a will in existence, which he could have amended by codicil, and the trust instrument took effect as a transfer at once and not upon the death of the donor. It can not be therefore said to be testamentary in character, unless the first contention of…