Lucas v. Commissioner
United States Board of Tax Appeals
In 1925 petitioner entered into a separation agreement with his wife and in accordance therewith created an irrevocable trust for her benefit. Under the separation agreement his wife released him from all obligation of future support and agreed that the sums paid to her and for her benefit thereunder were in full satisfaction of all claims for alimony.
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In 1925 petitioner entered into a separation agreement with his wife and in accordance therewith created an irrevocable trust for her benefit. Under the separation agreement his wife released him from all obligation of future support and agreed that the sums paid to her and for her benefit thereunder were in full satisfaction of all claims for alimony. Under the trust his wife was to receive the entire net income for life and had the right to dispose of the corpus by will; and in the event of her failure to exercise such right by will, the corpus was to be transferred to her issue. He did not…
1Opinion of the Court
HENRY M. LUCAS, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Lucas v. Commissioner
Docket No. 100516.
United States Board of Tax Appeals
44 B.T.A. 212; 1941 BTA LEXIS 1360;
April 18, 1941, Promulgated
In 1925 petitioner entered into a separation agreement with his wife and in accordance therewith created an irrevocable trust for her benefit. Under the separation agreement his wife released him from all obligation of future support and agreed that the sums paid to her and for her benefit thereunder were in full satisfaction of all claims for alimony. Under the trust his wife was to…
2Cases cited9 opinions
- Douglas v. WillcutsSupreme Court of the United States · 1935
- Helvering v. FitchSupreme Court of the United States · 1940
- Helvering v. LeonardSupreme Court of the United States · 1940
- Helvering v. FullerSupreme Court of the United States · 1940
- Hassaurek v. MarkbreitOhio Supreme Court · 1903
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