Clinard v. Commissioner
United States Tax Court
A grandfather entered into trust agreements providing for gifts to minor grandchildren which, in the event of death prior to age 21, would pass to the donees' "next of kin" other than the grandfather. Held, the grandfather was not entitled to $ 3,000 gift tax exclusions, since the relevant gifts did not come within the terms of section 2503(c), I.R.C. 1954.
1Opinion of the Court
Bernie C. Clinard, Petitioner, v. Commissioner of Internal Revenue, Respondent
Clinard v. Commissioner
Docket No. 88145
United States Tax Court
40 T.C. 878; 1963 U.S. Tax Ct. LEXIS 67;
August 23, 1963, Filed
Decision will be entered under Rule 50.
A grandfather entered into trust agreements providing for gifts to minor grandchildren which, in the event of death prior to age 21, would pass to the donees' "next of kin" other than the grandfather. Held, the grandfather was not entitled to $ 3,000 gift tax exclusions, since the relevant gifts did not come within the terms of section 2503(c), I.R.C. 1954.
2Cases cited8 opinions
- May v. Lewis.Supreme Court of North Carolina · 1903
- Jones v. . OliverSupreme Court of North Carolina · 1844
- Wallace v. . WallaceSupreme Court of North Carolina · 1921
- Williams v. . JohnsonSupreme Court of North Carolina · 1948
- Knox v. . KnoxSupreme Court of North Carolina · 1935
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