Bingham v. Commissioner
United States Tax Court
The decedent, in a declaration of trust, reserved power at any time by instrument, or instruments, in writing to change beneficiaries entitled to receive corpus. She later executed a "modification," revoking the paragraph providing that her daughter's heirs should take corpus, in case the daughter, her children, and descendants should die before the maximum period provided for in the trust; and she substituted her own heirs as beneficiaries in such contingency.
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The decedent, in a declaration of trust, reserved power at any time by instrument, or instruments, in writing to change beneficiaries entitled to receive corpus. She later executed a "modification," revoking the paragraph providing that her daughter's heirs should take corpus, in case the daughter, her children, and descendants should die before the maximum period provided for in the trust; and she substituted her own heirs as beneficiaries in such contingency. Held, the exercise of the power did not exhaust it, so that decedent at death had power to alter, amend, or revoke the trust, under…
1Opinion of the Court
Estate of Addie Ludlow Bingham (Also Known as Addie L. Bingham), Deceased, by Helen Bingham Salzer, Executrix, Petitioner, v. Commissioner of Internal Revenue, Respondent
Bingham v. Commissioner
Docket No. 6719
United States Tax Court
7 T.C. 1303; 1946 U.S. Tax Ct. LEXIS 17;
December 10, 1946, Promulgated
Decision will be entered under Rule 50.
The decedent, in a declaration of trust, reserved power at any time by instrument, or instruments, in writing to change beneficiaries entitled to receive corpus. She later executed a "modification," revoking the paragraph providing that her daughter's heirs…
2Cases cited5 opinions
- Porter v. CommissionerSupreme Court of the United States · 1933
- Rains v. RainsSupreme Court of Colorado · 1935
- Burney v. CommissionerUnited States Tax Court · 1944
- Wilson v. First National Trust & Savings BankCalifornia Court of Appeal · 1946
- Bingham v. CommissionerUnited States Tax Court · 1946