Walker v. Commissioner
United States Tax Court
1. Value of remainder interest in inter vivos trust after discretionary life estates to two minor unmarried grandchildren, which by the terms of the trust was to revert to decedent grantor, or, if he were dead, to his estate, upon the death of the grandchildren without wives or issue prior to receipt of the principal and in default of the exercise of limited powers of appointment, held includible in decedent's gross estate; held, further, no reduction for the value of the…
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1. Value of remainder interest in inter vivos trust after discretionary life estates to two minor unmarried grandchildren, which by the terms of the trust was to revert to decedent grantor, or, if he were dead, to his estate, upon the death of the grandchildren without wives or issue prior to receipt of the principal and in default of the exercise of limited powers of appointment, held includible in decedent's gross estate; held, further, no reduction for the value of the hypothetical exercise of the powers is permissible. 2. Notes executed to decedent by two of his children, which were…
1Opinion of the Court
OPINION.
OppeR, Judge:
The questions presented relate to the propriety or permissible extent of certain inclusions in decedent’s estate. One involves the subject matter of a transfer by decedent to a trust for the benefit of two grandchildren. The controversy is whether this falls within the provisions of section 811 (c), Internal Revenue Code, as intended to take effect at or after decedent’s death, under the principle of Helvering v. Hallock, 309 U. S. 106, and subsequent cases.
This subject has been variously treated in a number of recent cases and several tests have been applied, or, at…
2Cases cited9 opinions
- Helvering v. HallockSupreme Court of the United States · 1940
- Becker v. St. Louis Union Trust Co.Supreme Court of the United States · 1935
- Robinette v. HelveringSupreme Court of the United States · 1943
- Frances Biddle Trust v. CommissionerUnited States Tax Court · 1944
- Goodyear v. CommissionerUnited States Tax Court · 1943
4 more not listed; retrieve them via the Exa API.
3Cited by20 opinions
- Fahnestock v. CommissionerUnited States Tax Court · 1945
- Cardeza v. CommissionerUnited States Tax Court · 1945
- Harper v. CommissionerUnited States Tax Court · 1948
- Beggs v. CommissionerUnited States Tax Court · 1949
- Estate of Hofford v. CommissionerUnited States Tax Court · 1945
15 more not listed; retrieve them via the Exa API.