Spero v. Commissioner
United States Tax Court
Under decedent's will, all the rest, residue, and remainder of decedent's property was transferred in trust and became the corpus of two trusts designated in the will as "First Trust" and "Second Trust." Under the will, decedent nominated and appointed his wife and a bank as joint trustees. All of the income of the First Trust was to be paid to decedent's wife, during her life, in quarterly installments or oftener.
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Under decedent's will, all the rest, residue, and remainder of decedent's property was transferred in trust and became the corpus of two trusts designated in the will as "First Trust" and "Second Trust." Under the will, decedent nominated and appointed his wife and a bank as joint trustees. All of the income of the First Trust was to be paid to decedent's wife, during her life, in quarterly installments or oftener. With respect to the First Trust, decedent authorized and empowered his trustees "to use so much of the principal of this Trust as may be necessary at any time, in their discretion,…
1Opinion of the Court
OPINION.
Arundell, Judge:
Respondent determined a deficiency in estate tax in the amount of $9,094.50.
The only issue remaining for our decision is whether that part of the marital deduction claimed by petitioner on account of a certain trust created by decedent in his will is allowable under the provisions of section 812(e) (1) (F), I.R.C. 1939, as amended. The parties agree that all the other issues assigned will be disposed of in the computation to be made under Rule 50. All the facts pertaining to the marital deduction issue were stipulated.
Morton II. Spero, hereinafter sometimes referred to…
2Cases cited11 opinions
- New Colonial Ice Co. v. HelveringSupreme Court of the United States · 1934
- Deputy, Administratrix v. Du PontSupreme Court of the United States · 1940
- Mansfield v. SheltonSupreme Court of Connecticut · 1896
- Hoffenberg v. CommissionerUnited States Tax Court · 1954
- Tarver v. CommissionerUnited States Tax Court · 1956
6 more not listed; retrieve them via the Exa API.
3Cited by4 opinions
- Rose Gelb, Victor Edwin Gelb, Manufacturers Trust Company, Executors, of the Estate of Harry Gelb v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1962
- Estate of Wycoff v. CommissionerUnited States Tax Court · 1973
- Estate of Wycoff v. CommissionerUnited States Tax Court · 1973
- Spero v. CommissionerUnited States Tax Court · 1960