Bowers v. Commissioner
United States Board of Tax Appeals
The settlor of a trust, until the time of his death, could change the beneficiaries or alter their proportionate interests in the trust by the exercise of a power therein reserved. Held, the principal of the trust is includable in his gross estate.
1Opinion of the Court
*599OPINION.
Seawell:
The trust instrument involved in this proceeding was executed nine years before the settlor’s first child was born. The proceeds of the trust property, less expenses, were to be paid to the settlor during his life, and upon his death the trust property was to be conveyed to such of his children as survived him, and to the descendants of his children then dead, as he should by his will direct and appoint; and, if he died intestate, the property should be conveyed to his children him surviving and the descendants o,f his children who were dead, taking by representation of the…
2Cases cited15 opinions
- Knowlton v. MooreSupreme Court of the United States · 1900
- Reinecke v. Northern Trust Co.Supreme Court of the United States · 1929
- Chase National Bank v. United StatesSupreme Court of the United States · 1929
- Young Men's Christian Assn. of Columbus v. DavisSupreme Court of the United States · 1924
- Porter v. CommissionerSupreme Court of the United States · 1933
10 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Hesslein v. HoeyDistrict Court, S.D. New York · 1937
- Boston Safe Deposit & Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1936
- Bowers v. CommissionerUnited States Board of Tax Appeals · 1936
- Estate of Halberstam v. CommissionerUnited States Tax Court · 1954
- Korn v. CommissionerUnited States Board of Tax Appeals · 1937