Old Colony Trust Co. v. Commissioner
United States Board of Tax Appeals
1. A general power of appointment by will is exercised by a general devise of real and personal property by the donee of the power if there is nothing in the will of the latter evidencing a contrary intention, and the value of the property subject to the power is includable in the gross estate of the donee of the power. 2. The use by the donee of the power of the phrase "all the property owned by me at the time of my death" and expressions making certain bequests dependent…
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1. A general power of appointment by will is exercised by a general devise of real and personal property by the donee of the power if there is nothing in the will of the latter evidencing a contrary intention, and the value of the property subject to the power is includable in the gross estate of the donee of the power. 2. The use by the donee of the power of the phrase "all the property owned by me at the time of my death" and expressions making certain bequests dependent on the value of his estate does not indicate an intention not to exercise the power. 3. Where the power was exercised and…
1Opinion of the Court
*680OPINION.
Smith:
Section 302 (f) of the Revenue Act of 1926, which applies in this case, provides:
Sec. 302. The value of the gross estate of the decedent shall be determined by including the value at the time of his death of all property, real or personal, tangible or intangible, wherever situated—
* * ⅜ * «5 *(f) To the extent of any property passing under a general power of appointment exercised by the decedent (1) by will * * *.
This case turns on whether or not the decedent, Vredenburgh Minot, exercised the power of appointment vested in him under the deed of trust and will of his father so as…
2Cases cited8 opinions
- Stone v. ForbesMassachusetts Supreme Judicial Court · 1905
- Brandeis v. AtkinsMassachusetts Supreme Judicial Court · 1910
- Russell v. JoysMassachusetts Supreme Judicial Court · 1917
- Cumston v. BartlettMassachusetts Supreme Judicial Court · 1889
- Howland v. ParkerMassachusetts Supreme Judicial Court · 1908
3 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Old Colony Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1934