Oei Tjong Swan v. Commissioner
United States Tax Court
1. Decedent was a citizen and resident of the Netherlands and died there on July 23, 1943. In 1939, the decedent transferred property to two foreign Stiftungs, organized as family foundations for the purpose of providing funds for the education and support of decedent's descendants, decedent retaining the power to amend or revoke the foundations. At the date of decedent's death, the assets, including cash and securities, were held in the names of the Yan and Kien Stiftungs.
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1. Decedent was a citizen and resident of the Netherlands and died there on July 23, 1943. In 1939, the decedent transferred property to two foreign Stiftungs, organized as family foundations for the purpose of providing funds for the education and support of decedent's descendants, decedent retaining the power to amend or revoke the foundations. At the date of decedent's death, the assets, including cash and securities, were held in the names of the Yan and Kien Stiftungs. Held, in the circumstances of this case, that the transfers of property to the Stiftungs, which did not engage in…
1Opinion of the Court
OPINION.
FisheR, Judge:
Issue /.
A
The principal issue presented is whether the value of the assets of the Yan and Kien Stiftungs is includible in the decedent’s gross estate for Federal estate tax purposes as determined by the respondent.
Section 811 (d) requires that there be included in the gross estate for Federal estate tax purposes the value of any property transferred by the decedent (except in case of a bona fide sale for an adequate and full consideration in money or money’s worth) “by trust or otherwise,” where the decedent up to the date of his death retained the power “to alter, amend,…
2Cases cited25 opinions
- Moline Properties, Inc. v. CommissionerSupreme Court of the United States · 1943
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- United States v. BelmontSupreme Court of the United States · 1937
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- American Home Products Corp. v. United StatesUnited States Court of Claims · 1979
- Bohner v. CommissionerUnited States Tax Court · 2014
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