In re the Estate Tax upon the Estate of Smith

The question presented for determination is whether the contingent bequests to the children of the testator are transfers of the kind which are exempt from taxation by section 249-q of the Tax Law.

Testator died January 8,1931, survived by a widow and by a son, Roland W. Smith, born January 27, 1914, and a daughter, Emily Lawrence Smith, born October 27,1921. His will, so far as material here, creates a trust of the residue of his estate, and the income thereof is given to his widow during her life. Upon the death of the widow, the trust is to be divided into two equal parts, the net income of…