Clark v. Commissioner
United States Board of Tax Appeals
The petitioner, under a trust established by her father in 1906, had an equitable life interest therein consisting of the right to receive one-fourth of the distributions of the trust. On December 24, 1919, petitioner, in consideration of love and affection assigned to her husband a "one-half interest in all income, grants, interest, reversion, remainder, and remainders" which might thereafter be payable to her from the trust.
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The petitioner, under a trust established by her father in 1906, had an equitable life interest therein consisting of the right to receive one-fourth of the distributions of the trust. On December 24, 1919, petitioner, in consideration of love and affection assigned to her husband a "one-half interest in all income, grants, interest, reversion, remainder, and remainders" which might thereafter be payable to her from the trust. The instrument of assignment was executed before a notary public on February 19, 1920. The trustees were not notified of the assignment until April 30, 1924. All…
1Opinion of the Court
GRACE SCRIPPS CLARK, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Clark v. Commissioner
Docket Nos. 20103, 36901.
United States Board of Tax Appeals
16 B.T.A. 453; 1929 BTA LEXIS 2576;
May 10, 1929, Promulgated
The petitioner, under a trust established by her father in 1906, had an equitable life interest therein consisting of the right to receive one-fourth of the distributions of the trust. On December 24, 1919, petitioner, in consideration of love and affection assigned to her husband a "one-half interest in all income, grants, interest, reversion, remainder, and remainders"…
2Cases cited16 opinions
- Title Insurance & Trust Co. v. DuffillCalifornia Supreme Court · 1923
- Bridge v. KedonCalifornia Supreme Court · 1912
- Driscoll v. DriscollCalifornia Supreme Court · 1904
- Curtin v. KowalskyCalifornia Supreme Court · 1904
- Burkett v. DotyCalifornia Supreme Court · 1917
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