Foster v. Commissioner
United States Board of Tax Appeals
Held, that the trust here involved was not intended to take effect in possession or enjoyment at or after decedent's death, within the purview of section 302(c) of the Revenue Act of 1926, and that the respondent erred in including in the decedent's gross estate the value of the corpus of the trust, less the estimated present value of the remainder interest of an educational institution that was to receive the trust property upon the termination of the trust.
1Opinion of the Court
CHARLES H. W. FOSTER AND CHARLES H. ALLEN, EXECUTORS OF THE WILL OF CAROLINE B. FOSTER, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Foster v. Commissioner
Docket No. 46672.
United States Board of Tax Appeals
26 B.T.A. 708; 1932 BTA LEXIS 1263;
July 26, 1932, Promulgated
Held, that the trust here involved was not intended to take effect in possession or enjoyment at or after decedent's death, within the purview of section 302(c) of the Revenue Act of 1926, and that the respondent erred in including in the decedent's gross estate the value of the corpus of the trust, less the…
2Cases cited17 opinions
- Gould v. GouldSupreme Court of the United States · 1917
- Reinecke v. Northern Trust Co.Supreme Court of the United States · 1929
- Tyler v. United StatesSupreme Court of the United States · 1930
- May v. HeinerSupreme Court of the United States · 1930
- Klein v. United StatesSupreme Court of the United States · 1931
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