Foerderer v. Commissioner

McLaughlin, circuit judge.

This is an appeal from a decision of the United States Tax Court which found the following facts among others:

“On July 1, 1924, petitioner created an irrevocable trust naming himself as sole trustee and transferring certain securities to the trust. The trust instrument provided that the income thereof was to be paid to petitioner’s wife, Ethel Brown Foerderer, for her life, and upon her death and until petitioner’s death, to the child or children of his wife or the issue of such child or children per stirpes. Upon the death of petitioner and his wife the corpus was…