Safe Deposit & Trust Co. v. Commissioner
United States Board of Tax Appeals
Decedent's father bequeathed to him certain property to be held in trust until decedent became 28 years old, at which time decedent would become the absolute owner, if alive. If decedent died intestate before attaining that age, leaving living issue, the trustee should hold the property in trust for such issue until the year in which decedent would have been 28 years old.
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Decedent's father bequeathed to him certain property to be held in trust until decedent became 28 years old, at which time decedent would become the absolute owner, if alive. If decedent died intestate before attaining that age, leaving living issue, the trustee should hold the property in trust for such issue until the year in which decedent would have been 28 years old. If decedent died intestate without children before attaining that age, his interest was to go to his brother and sisters or to the trusts established for them. Decedent, by the will of his father, was given the power of…
1Opinion of the Court
*155OPINION.
Kern :
Kespondent has determined the deficiency on the theory that the interest of the decedent, Smith Beynolds, in the corpora of the three trusts here in question, the first, a testamentary trust created by liis father, B. J. Beynolds; the second, an inter vivos gift in trust made by his mother; and the last a testamentary trust created also by his mother, is includable in his gross estate either under section 302 (a) of the Bevenue Act of 1926, set out in the margin,1 a catch-all provision *156including everything in decedent’s estate to the extent of his interest, or under section 302…
2Cases cited35 opinions
- Blair v. CommissionerSupreme Court of the United States · 1937
- Morgan v. CommissionerSupreme Court of the United States · 1940
- Ithaca Trust Co. v. United StatesSupreme Court of the United States · 1929
- Crooks v. HarrelsonSupreme Court of the United States · 1930
- Lyeth v. HoeySupreme Court of the United States · 1938
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3Cited by3 opinions
- Helvering v. Safe Deposit & Trust Co.Court of Appeals for the Fourth Circuit · 1941
- Estate of Edith Fitz v. CommissionerUnited States Tax Court · 1945
- Safe Deposit & Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1940