Estate of Ware v. Commissioner
United States Tax Court
Held: During his lifetime, decedent failed to effectively resign his trusteeships or to release his power under each of the trusts in question to accumulate or distribute the income of the trusts. Consequently, the date-of-death value of the corpus of each of the trusts was includable in his gross estate under secs. 2036 and 2038, I.R.C. 1954.
1Opinion of the Court
OPINION
Quealx, Judge:
The respondent determined a deficiency in the Federal estate tax of the Estate of Robert R. Ware, deceased, in the amount of $290,729.03 of which the sum of $289,493.66 is in dispute. The petitioner is the executor of the estate.
The amount in dispute is attributable to respondent’s inclusion in the decedent’s gross estate of the value ($865,242.22) of five trusts created by the decedent. The only issue presented for decision is whether decedent, during his lifetime, effectively released his power under each of the trusts to accumulate or distribute income. If so, the…
2Cases cited36 opinions
- Morgan v. CommissionerSupreme Court of the United States · 1940
- United States v. O'MALLEYSupreme Court of the United States · 1966
- Ellis v. Boston, Hartford & Erie RailroadMassachusetts Supreme Judicial Court · 1871
- In Re the Trust Under the Last Will & Testament of JacksonMissouri Court of Appeals · 1956
- In Re Estate of BreaultIllinois Supreme Court · 1963
31 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Estate of Robert R. Ware, Deceased v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1973
- Estate of Alexander v. CommissionerUnited States Tax Court · 1983
- Estate of Alexander v. CommissionerUnited States Tax Court · 1983
- Estate of Halpern v. CommissionerUnited States Tax Court · 1995
- Estate of Ware v. CommissionerUnited States Tax Court · 1970