Wolder v. Commissioner

Petitioner and decedent, during decedent's lifetime, entered into an agreement whereby petitioner undertook to perform legal services for decedent without charge and decedent undertook to leave him certain assets in her will. The services were rendered and the agreed provision was contained in decedent's last will. Held, petitioner received the benefits under the will as compensation for services, taxable under sec. 61, and not as a bequest, excludable from gross income under sec. 102(a), I.R.C. 1954. Held, further, petitioner constructively received specific shares of stock from decedent on…