Lowery v. Helvering

L. HAND, Circuit Judge.

This is a petition to review an order of the Board of Tax Appeals affirming a deficiency in the petitioner’s income tax for 1928. By the third clause of his will, drawn in 1895, the petitioner’s husband made the following disposition: “I do hereby give bequeath and devise unto my wife * * * for and during the term of her natural life, the possession, management and control and the rents, profits, use and income of all the rest residue and remainder of all my personal and real property.” He then devised and bequeathed the remainder to trustees in trust to divide it into…