Commissioner of Internal Revenue v. Morris

CHASE, Circuit Judge.

There is no dispute as to the controlling facts which are that Arthur J. Morris, a resident of the state of New York on July 1, 1926, executed five deeds of trust whereby he created five separate trust estates with himself and one H. F. Stevenson the trustees of each. In one his wife was named as the beneficiary and in each of the others one of his four daughters was so named. Each trust was to terminate on January 1, 1930, or at the death of the settlor, if that occurred earlier, and upon termination the principal of each estate was to be transferred with all capital…