Sweeney v. Commissioner
United States Tax Court
1. Decedent created a trust of which his daughter was beneficiary, and she was required to join him in any termination of the trust. They so terminated it, and the corpus was by their direction delivered to her immediately after creation of another trust by her with the same corpus. Decedent was life beneficiary of the income of both trusts.
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1. Decedent created a trust of which his daughter was beneficiary, and she was required to join him in any termination of the trust. They so terminated it, and the corpus was by their direction delivered to her immediately after creation of another trust by her with the same corpus. Decedent was life beneficiary of the income of both trusts. Held, that decedent was grantor of the second trust, and the value of the corpus was properly included in his gross estate. 2. Decedent in 1923 set up a trust which was subject to modification or revocation by him. On December 23, 1932, he modified it to…
1Opinion of the Court
Disney, Judge'.
This proceeding involves the redetermination of a deficiency of $51,817.64 in estate tax. The issues are whether the value of the corpus of a trust created in 1933, of which decedent’s daughter was named as grantor, and a trust created by the decedent in 1923, are includible in the decedent’s gross estate. We shall, for the sake of clarity, treat the two trusts separately.
FINDINGS OF FACT AS TO TRUST OF 1933.
Petitioner is the surviving executrix of the estate of her father, George W. Sweeney, who died December 13, 1940. The estate tax return was filed with the collector for the…
2Cases cited6 opinions
- Reinecke v. Northern Trust Co.Supreme Court of the United States · 1929
- Chase National Bank v. United StatesSupreme Court of the United States · 1929
- Burnet v. GuggenheimSupreme Court of the United States · 1933
- Porter v. CommissionerSupreme Court of the United States · 1933
- Helvering v. City Bank Farmers Trust Co.Supreme Court of the United States · 1935
1 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Sinclaire v. CommissionerUnited States Tax Court · 1949
- Estate of Marshall v. CommissionerUnited States Tax Court · 1969
- Estate of Marshall v. CommissionerUnited States Tax Court · 1969
- Sinclaire v. CommissionerUnited States Tax Court · 1949
- Sweeney v. CommissionerUnited States Tax Court · 1944