Brokaw v. Commissioner
United States Board of Tax Appeals
The discharge of a husband's legal obligation to support his wife and minor child held an adequate and full consideration in money or money's worth for a transfer in trust by the husband for the benefit of the wife and child.
1Opinion of the Court
OPINION.
Murdock :
The Commissioner determined a deficiency of $73,403.81 in estate tax. The only issue is whether the Commissioner erred in including in the gross estate $312,884.47 representing the fair market value at the date of the death of the decedent of property transferred by him in trust. The parties have filed a stipulation of facts, which is hereby adopted as the Board’s findings of fact.
George Tuttle Brokaw, the decedent, died on May 28, 1935. He was survived by his first wife, Ann Clare Brokaw, their daughter, Ann Clare Brokaw, and also by his second wife. The petitioner was first…
2Cases cited3 opinions
- Hassett v. WelchSupreme Court of the United States · 1938
- Helvering v. City Bank Farmers Trust Co.Supreme Court of the United States · 1935
- Helvering v. StevensSupreme Court of the United States · 1936
3Cited by5 opinions
- Estate of Davis v. CommissionerUnited States Tax Court · 1968
- Brokaw v. CommissionerUnited States Board of Tax Appeals · 1939
- Estate of Davis v. CommissionerUnited States Tax Court · 1968
- Meyer's Estate v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1940
- Meyer's Estate v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1940