Wadewitz v. Commissioner
United States Tax Court
1. Petitioner Nettie Wadewitz and her husband Edward H. Wadewitz, as grantors, created a trust known as Trust # 1. Edward assigned to the trustees certain policies of insurance on his life; and Nettie at the same time assigned to the trustees certain shares of corporate stock.
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1. Petitioner Nettie Wadewitz and her husband Edward H. Wadewitz, as grantors, created a trust known as Trust # 1. Edward assigned to the trustees certain policies of insurance on his life; and Nettie at the same time assigned to the trustees certain shares of corporate stock. The trustees were to use the trust income, which during the taxable years consisted entirely of dividends from the stock contributed by Nettie, to pay premiums on the aforesaid policies, and to add any remaining income to corpus. The trust indenture provided that, after the death of Edward, the trustees were to collect…
1Opinion of the Court
Estate of Edward H. Wadewitz, Deceased, Robert S. Callender, Wynnefred W. Callender, Camille W. Wadewitz and First National Bank and Trust Company of Racine, Executors, and Nettie M. Wadewitz, Petitioners, v. Commissioner of Internal Revenue, Respondent
Wadewitz v. Commissioner
Docket No. 61526
United States Tax Court
32 T.C. 538; 1959 U.S. Tax Ct. LEXIS 162;
May 29, 1959, Filed
Decision will be entered for the respondent.
1. Petitioner Nettie Wadewitz and her husband Edward H. Wadewitz, as grantors, created a trust known as Trust # 1. Edward assigned to the trustees certain policies of insurance on…
2Cases cited8 opinions
- Kent v. RothensiesCourt of Appeals for the Third Circuit · 1941
- Greenough v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1934
- Irish v. CommissionerUnited States Board of Tax Appeals · 1941
- Kent v. United StatesUnited States Court of Claims · 1945
- Phipps v. HelveringCourt of Appeals for the D.C. Circuit · 1941
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