Commissioner of Internal Revenue v. Masterson

In solving the problems before us, much confusion may be avoided by bearing in mind that there is no question in this case of the right of the survivor to revoke the joint will and covenant. She has never attempted to revoke it, and everything done by her has been consistent with its provisions as she understood them. So the only questions are with reference to the intention of the parties. When was the will of the survivor to take effect ? When were the estates to vest ? What is the law of Texas on the subject? Shall we follow the highest court of the state or make a choice between its…