Bradley v. Commissioner
United States Tax Court
The corpora of two trusts created by decedent in 1923 and 1929, respectively, decedent having retained the power to designate who should receive the income therefrom during his lifetime, though by amendment of the first trust he had excluded himself as an income recipient, held not includible in decedent's gross estate, following May v. Heiner, 281 U.S. 238. Estate of Mary H. Hughes, 44 B. T. A. 1196, overruled.
1Opinion of the Court
OPINION.
AetjNdell, Judge:
The Commissioner determined a deficiency of $63,244.44 in estate tax. Minor adjustments are not disputed. The issue is whether the value of the corpora of two irrevocable trusts created by decedent prior to 1931 should be included within his gross estate. This turns primarily upon whether the transfers were intended to take effect in possession or enjoyment at or after decedent’s death by reason of his reservation of the right to designate who should receive the income during his life, though decedent was precluded from designating himself under one of the trusts. The…
2Cases cited14 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Helvering v. HallockSupreme Court of the United States · 1940
- Reinecke v. Northern Trust Co.Supreme Court of the United States · 1929
- Hassett v. WelchSupreme Court of the United States · 1938
- May v. HeinerSupreme Court of the United States · 1930
9 more not listed; retrieve them via the Exa API.
3Cited by62 opinions
- Commissioner v. Estate of ChurchSupreme Court of the United States · 1949
- Industrial Trust Co. v. Commissioner of Internal Rev.Court of Appeals for the First Circuit · 1947
- Frances Biddle Trust v. CommissionerUnited States Tax Court · 1944
- Estate of Budlong v. CommissionerUnited States Tax Court · 1946
- Downe v. CommissionerUnited States Tax Court · 1943
57 more not listed; retrieve them via the Exa API.