Legal Opinion
Jolley v. United States
District Court, D. South Carolina
Decided September 29, 1966No. Civ. A. No. 5016PublishedCited by 1 opinion
1Opinion of the Court
HEMPHILL, District Judge.
Plaintiff was assessed a tax deficiency on a gift tax return for 1960. The deficiency was paid; claim for refund was filed; and suit for refund was instituted.
On June 10, 1960, the taxpayer transferred certain stocks and bonds in trust in favor of his three adult children: Robert A. Jolley, Jr., age 39; James E. Jolley, age 33; Mamie Jolley Bruce, the mother of two minor children and the only parent among the beneficiaries. They were named trustees as well as the prime beneficiaries.
The trust broadly provides, with certain qualifications, that the corpus of the trust…
2Cases cited25 opinions
- Fondren v. CommissionerSupreme Court of the United States · 1945
- Commissioner v. DisstonSupreme Court of the United States · 1945
- Helvering v. HutchingsSupreme Court of the United States · 1941
- Boston Safe Deposit & Trust Co. v. ParkMassachusetts Supreme Judicial Court · 1940
- Commissioner of Internal Revenue v. BrandegeeCourt of Appeals for the First Circuit · 1941
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3Cited by1 opinion
- Van Den Wymelenberg v. United StatesDistrict Court, E.D. Wisconsin · 1967