First National Bank of Minneapolis v. Commissioner of Taxation

Matson, Justice.

Certiorari to review an order of the Board of Tax Appeals.

We are confronted with this basic issue: Where, under the terms of an irrevocable trust, a donee is unconditionally vested with a power of appointment to designate by will to whom the trust estate shall be distributed at the time of the donee’s death, and where the trust instrument further provides that in the event the donee dies intestate the trust estate shall be paid and distributed to the donee’s heirs in accordance with the statutes .governing the descent and distribution of personal property, is there a taxable…