Mills v. Commissioner
United States Board of Tax Appeals
Under a trust instrument, the settlor was to receive the income but, admittedly, was completely and irrevocably divested of the corpus, except for the requirement that that the net income * * * shall be insufficient to furnish to said Trustor the funds to which she has been accustomed for the upkeep of her home and her personal enjoyment * * * trustee should pay from the corpus such amount as might, in the discretion of the trustee, be reasonably necessary for such purpose.
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Under a trust instrument, the settlor was to receive the income but, admittedly, was completely and irrevocably divested of the corpus, except for the requirement that that the net income * * * shall be insufficient to furnish to said Trustor the funds to which she has been accustomed for the upkeep of her home and her personal enjoyment * * * trustee should pay from the corpus such amount as might, in the discretion of the trustee, be reasonably necessary for such purpose. None of the corpus was distributed to the settlor during the tax year, but the absence of the condition upon which it…
1Opinion of the Court
LEWIS HUNT MILLS AS ADMINISTRATOR DE BONIS NON OF THE ESTATE OF EVELYN SCOTT MILLS, DECEASED, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Mills v. Commissioner
Docket No. 91734.
United States Board of Tax Appeals
39 B.T.A. 798; 1939 BTA LEXIS 977;
April 20, 1939, Promulgated
Under a trust instrument, the settlor was to receive the income but, admittedly, was completely and irrevocably divested of the corpus, except for the requirement that that the net income * * * shall be insufficient to furnish to said Trustor the funds to which she has been accustomed for the upkeep of her home…
2Cases cited9 opinions
- Ithaca Trust Co. v. United StatesSupreme Court of the United States · 1929
- Reinecke v. SmithSupreme Court of the United States · 1933
- Patterson v. CommissionerUnited States Board of Tax Appeals · 1937
- Rovensky v. CommissionerUnited States Board of Tax Appeals · 1938
- Downs v. CommissionerUnited States Board of Tax Appeals · 1937
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