Hubbard v. Commissioner
United States Tax Court
1. Stipulated value of trust reserving income for life established by decedent on January 26, 1932, and to which she transferred all her rights in prior trust in which she owned everything except a specified annuity for the life of another, held includible in her gross estate under Joint Resolution of March 3, 1931. 2. Commissions computed and paid in accordance with Alabama law to the executor of decedent's estate partly on income received and distributed after decedent's…
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1. Stipulated value of trust reserving income for life established by decedent on January 26, 1932, and to which she transferred all her rights in prior trust in which she owned everything except a specified annuity for the life of another, held includible in her gross estate under Joint Resolution of March 3, 1931. 2. Commissions computed and paid in accordance with Alabama law to the executor of decedent's estate partly on income received and distributed after decedent's death held, on the facts, deductible from gross estate.
1Opinion of the Court
OPINION.
Opper, Judge:
Both factually and legally this proceeding arises against a complicated background. Decedent did not create the original trust out of which the deficiency arises. It was imposed, presumably with her consent, by the probate court upon property left by her deceased husband. The husband’s former wife was life beneficiary to the extent of $9,000 a year. At that point, the present decedent owned everything else.1 Had she died without any further transfer, the value of her interest in the trust would obviously have been includible in decedent’s estate when she died. Sec. 811…
2Cases cited12 opinions
- May v. HeinerSupreme Court of the United States · 1930
- Commissioner v. Estate of ChurchSupreme Court of the United States · 1949
- Cyrus H. McCormick v. David BurnetSupreme Court of the United States · 1931
- Morsman v. BurnetSupreme Court of the United States · 1931
- Burnet v. Northern Trust Co.Supreme Court of the United States · 1931
7 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- Wadewitz v. CommissionerUnited States Tax Court · 1963
- Arents v. CommissionerUnited States Tax Court · 1960
- Estate of Papson v. CommissionerUnited States Tax Court · 1979
- The Estate of Debe W. Hubbard, the Merchants National Bank of Mobile v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1957
- Estate of Thomson v. CommissionerUnited States Tax Court · 1972
5 more not listed; retrieve them via the Exa API.