Lloyd v. Commissioner
United States Tax Court
Shortly before his first and only marriage, which occurred at the age of 73, the decedent made a draft of a will under which at his death all of his property, with minor exceptions, would be placed in trust with the income therefrom to be paid to his wife during her life, thereafter to his two sisters and upon the death of the survivor of his sisters the corpus of the trust to be distributed, one-half to decedent's nephews and nieces and one-half to certain named charitable,…
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Shortly before his first and only marriage, which occurred at the age of 73, the decedent made a draft of a will under which at his death all of his property, with minor exceptions, would be placed in trust with the income therefrom to be paid to his wife during her life, thereafter to his two sisters and upon the death of the survivor of his sisters the corpus of the trust to be distributed, one-half to decedent's nephews and nieces and one-half to certain named charitable, educational, and religious organizations. Pursuant to the suggestion of a long-time business adviser who was in charge…
1Opinion of the Court
OPINION.
Withex, Judge:
The controversy here is as to the construction to be given the will of the decedent. The respondent takes the position that by Item 6 the decedent provided that the income from the trust property should be distributed to his wife, Mrs. Lloyd, during her life and upon her death, if there be no children of them surviving, the entire corpus or principal of the trust should be distributed to decedent’s sisters and brothers and the children thereof per stirpes. The respondent takes the further position that by Item 7 decedent provided that if he left no issue to take as…
2Cases cited12 opinions
- Mayer's EstateSupreme Court of Pennsylvania · 1927
- Logan v. WileySupreme Court of Pennsylvania · 1947
- Riegel v. OliverSupreme Court of Pennsylvania · 1945
- Patterson's EstateSupreme Court of Pennsylvania · 1938
- Worstall's EstateSuperior Court of Pennsylvania · 1936
7 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Lloyd v. CommissionerUnited States Tax Court · 1955