Cardeza v. Commissioner
United States Tax Court
1. Decedent's father created a testamentary trust which provided that the trustee should pay (a) $ 5,000 per year to the decedent for life; (b) the income from two-thirds of the remainder of the trust estate to decedent for life and upon her death the principal amount thereof as she should appoint by will; (c) the income from the remaining one-third to decedent's son, Thomas Cardeza, for life and upon his death, the principal, less an amount necessary to produce a life…
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1. Decedent's father created a testamentary trust which provided that the trustee should pay (a) $ 5,000 per year to the decedent for life; (b) the income from two-thirds of the remainder of the trust estate to decedent for life and upon her death the principal amount thereof as she should appoint by will; (c) the income from the remaining one-third to decedent's son, Thomas Cardeza, for life and upon his death, the principal, less an amount necessary to produce a life annuity for his widow, to his children or their issue. If the decedent died without executing the power of appointment, her…
1Opinion of the Court
OPINION.
Van FossAn, Judge:
The first issue for our determination is whether the value of two-thirds of the corpus of the Drake trust is includible in the decedent’s gross estate as property passing under a general power of appointment by virtue of the provisions of section 811 (f) of the Internal Revenue Code, prior to its amendment by section 403 (a) of the Revenue Act of 1942.1
The petitioners contend that nothing may be included in the decedent’s estate by virtue of section 811 (f), since nothing in fact passed under the power. They contend that, although the decedent in her will attempted…
2Cases cited21 opinions
- Helvering v. HallockSupreme Court of the United States · 1940
- Helvering v. StuartSupreme Court of the United States · 1942
- May v. HeinerSupreme Court of the United States · 1930
- Porter v. CommissionerSupreme Court of the United States · 1933
- Klein v. United StatesSupreme Court of the United States · 1931
16 more not listed; retrieve them via the Exa API.
3Cited by21 opinions
- Commissioner of Internal Revenue v. Cardeza's EstateCourt of Appeals for the Third Circuit · 1949
- Audenried v. CommissionerUnited States Tax Court · 1956
- Fidelity-Philadelphia Trust Company and J. Reece Lewis, Executors of the Will of Anna C. Burr, Deceased v. United StatesCourt of Appeals for the Third Circuit · 1955
- Arents v. CommissionerUnited States Tax Court · 1960
- Estate of Prell v. CommissionerUnited States Tax Court · 1967
16 more not listed; retrieve them via the Exa API.