Estate of Cohen v. Commissioner
United States Tax Court
Over a period of about 28 months ending some 4 years prior to his death, the decedent transferred all of his common shares and 7,350 of his 7,500 preferred shares in a Massachusetts real estate trust to his children, grandchildren, and great-grandchildren. The primary function of the trust was to lease a store facility to the corporate retail business operated by the decedent and his three sons.
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Over a period of about 28 months ending some 4 years prior to his death, the decedent transferred all of his common shares and 7,350 of his 7,500 preferred shares in a Massachusetts real estate trust to his children, grandchildren, and great-grandchildren. The primary function of the trust was to lease a store facility to the corporate retail business operated by the decedent and his three sons. The decedent and his sons were the trustees of the trust when the transfers were made and at all times thereafter until the death of the decedent. Held: The discretion accorded the trustees in the…
1Opinion of the Court
Raum, Judge:
The Commissioner determined a $435,158.78 deficiency in petitioner’s Federal estate tax liability. After concessions, the sole issue remaining for decision is whether certain common and preferred shares in a Massachusetts realty trust, which the decedent gave outright during his lifetime to his children, grandchildren, and great-grandchildren, are includable in his estate under section 2036(a)(2) or section 2038(a)(1), I.R.C. 1954, by reason of his position as a trustee of the realty trust.
FINDINGS OF FACT
Some of the facts have been stipulated. The stipulation of facts and…
2Cases cited12 opinions
- Morrissey v. CommissionerSupreme Court of the United States · 1935
- Helvering v. Coleman-Gilbert AssociatesSupreme Court of the United States · 1935
- United States v. ByrumSupreme Court of the United States · 1972
- Swanson v. CommissionerSupreme Court of the United States · 1935
- Hynes v. CommissionerUnited States Tax Court · 1980
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3Cited by4 opinions
- Estate of Bongard v. Comm'rUnited States Tax Court · 2005
- Estate of Bongard v. Comm'rUnited States Tax Court · 2005
- Estate of Cohen v. CommissionerUnited States Tax Court · 1982
- Estate of Wayne C. Bongard, James A. Bernards, Personal Representative v. CommissionerUnited States Tax Court · 2005