Hornor v. Commissioner
United States Board of Tax Appeals
1. Property held by the entirety was conveyed to a trust less than two years before the husband's death; the spouses reserved income and a joint power of revocation or modification during their joint lives, and with a son were trustees with power of management.
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1. Property held by the entirety was conveyed to a trust less than two years before the husband's death; the spouses reserved income and a joint power of revocation or modification during their joint lives, and with a son were trustees with power of management. The value of the property and accumulated trust income, held, properly included in the husband's gross estate (a) because the evidence fails to overcome the determination that the trust was created in contemplation of death; (b) because of the power to revoke and the reservation of life income. 2. Gift taxes paid by both the husband…
1Opinion of the Court
*1139OPINION.
Sternhagen:
1. The petitioner contests the Commissioner’s inclusion in the gross estate of the value of the real properties held in trust after the transfer in 1935 by decedent and his wife as tenants by the entirety. Decedent had originally acquired the properties individually and had then transferred them into entirety ownership. The propriety of the inclusion in the gross estate seems clear upon any one of several grounds.
The Commissioner has held that the transfer by the decedent to the trust in 1935 was made in contemplation of death. The transfer was less than two years before…
2Cases cited6 opinions
- Helvering v. HallockSupreme Court of the United States · 1940
- Reinecke v. Northern Trust Co.Supreme Court of the United States · 1929
- Chase National Bank v. United StatesSupreme Court of the United States · 1929
- Tyler v. United StatesSupreme Court of the United States · 1930
- Porter v. CommissionerSupreme Court of the United States · 1933
1 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- Sullivan's Estate v. Commissioner of Internal Rev.Court of Appeals for the Ninth Circuit · 1949
- Estate of ThurstonCalifornia Supreme Court · 1950
- The Union Commerce Bank, Transferee v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1964
- Richard H. Black, Deceased, Phyllis M. Black, Personal Representative v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1985
- Union Commerce Bank v. CommissionerUnited States Tax Court · 1963
8 more not listed; retrieve them via the Exa API.