Estate of Jones v. Commissioner
United States Tax Court
A power of appointment authorized the decedent and a bank as cotrustees of a testamentary trust to pay over to the decedent part or all of the principal of the trust in cases of emergency or in situations affecting her care, maintenance, health, welfare and well-being. Held, the power exercisable in favor of the decedent was not limited by an ascertainable standard relating to the health, education, support, or maintenance of the decedent.
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A power of appointment authorized the decedent and a bank as cotrustees of a testamentary trust to pay over to the decedent part or all of the principal of the trust in cases of emergency or in situations affecting her care, maintenance, health, welfare and well-being. Held, the power exercisable in favor of the decedent was not limited by an ascertainable standard relating to the health, education, support, or maintenance of the decedent. Held, further, the decedent as coholder of the power had at the time of her death a general power of appointment created after Oct. 21, 1942. Held,…
1Opinion of the Court
Estate of Effie Kells Jones, Deceased, Citizens First National Bank of Ridgewood, Administrator c.t.a., Petitioner v. Commissioner of Internal Revenue, Respondent
Estate of Jones v. Commissioner
Docket No. 5138-69
United States Tax Court
56 T.C. 35; 1971 U.S. Tax Ct. LEXIS 155;
April 8, 1971, Filed
Decision will be entered under Rule 50.
A power of appointment authorized the decedent and a bank as cotrustees of a testamentary trust to pay over to the decedent part or all of the principal of the trust in cases of emergency or in situations affecting her care, maintenance, health, welfare and…
2Cases cited12 opinions
- Fidelity Union Trust Co. v. RobertSupreme Court of New Jersey · 1962
- President of the Manhattan Co. v. ArmourSupreme Court of New Jersey · 1953
- Horace S. Miller, Jr. And Isabel M. Campbell, Co-Executors of the Estate of Isabella Steel Miller, Deceased v. United StatesCourt of Appeals for the Third Circuit · 1968
- Peoples Trust Company Of Bergen County v. United StatesCourt of Appeals for the Third Circuit · 1969
- Caldwell v. United StatesCourt of Appeals for the Third Circuit · 1940
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