First Nat'l Bank v. Commissioner
United States Board of Tax Appeals
An individual taxpayer, who was both the trustee and a life beneficiary of the residuary income of a trust set up under his wife's will, shortly after her death on October 8, 1933, orally disclaimed his beneficial interest and made no distribution of the income from the trust to himself as beneficiary.
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An individual taxpayer, who was both the trustee and a life beneficiary of the residuary income of a trust set up under his wife's will, shortly after her death on October 8, 1933, orally disclaimed his beneficial interest and made no distribution of the income from the trust to himself as beneficiary. On May 6, 1936, he confirmed his renunciation by executing a written disclaimer of all past, present, and future rights, and on September 6, 1936, a state court, in a proceeding brought by a successor trustee, made an explicit finding that the taxpayer had validly disclaimed all rights to…
1Opinion of the Court
THE FIRST NATIONAL BANK OF PORTLAND, A CORPORATION, EXECUTOR, ESTATE OF L. B. STEARNS, DECEASED, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
First Nat'l Bank v. Commissioner
Docket No. 92288.
United States Board of Tax Appeals
39 B.T.A. 828; 1939 BTA LEXIS 972;
April 25, 1939, Promulgated
An individual taxpayer, who was both the trustee and a life beneficiary of the residuary income of a trust set up under his wife's will, shortly after her death on October 8, 1933, orally disclaimed his beneficial interest and made no distribution of the income from the trust to himself as…
2Cases cited8 opinions
- Blair v. CommissionerSupreme Court of the United States · 1937
- Freuler v. HelveringSupreme Court of the United States · 1934
- Helvering v. ButterworthSupreme Court of the United States · 1933
- Blake v. BlakeOregon Supreme Court · 1934
- Lehr v. SwitzerSupreme Court of Iowa · 1931
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