Edelman v. Commissioner
United States Tax Court
1. Held, that a power of appointment granted to the decedent under the will of her deceased husband, under which she was authorized to appoint to her estate (but not to herself) the whole or any part of the principal of a trust created under said will, is a "general power of appointment" within the meaning of section 2041(a)(2) and (b)(1) of the 1954 Code. 2. Held, further, that the decedent held said power of appointment at the time of her death, although she was at that…
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1. Held, that a power of appointment granted to the decedent under the will of her deceased husband, under which she was authorized to appoint to her estate (but not to herself) the whole or any part of the principal of a trust created under said will, is a "general power of appointment" within the meaning of section 2041(a)(2) and (b)(1) of the 1954 Code. 2. Held, further, that the decedent held said power of appointment at the time of her death, although she was at that time mentally deranged but had never been adjudicated to be incompetent. 3. Held, further, that the value of the trust…
1Opinion of the Court
Pierce, Judge:
Respondent determined a deficiency in estate tax in the amount of $4,482.24.
The issue for decision is whether there is includible in the gross estate of the decedent Rebecca Edelman, under section 2041(a) (2) of the 1954 Code, the value of the principal of a trust created under the will of her deceased husband, as to which she not only was given the right to receive the net income for her life, but as to which she also was granted a power to appoint the principal to her own estate, free of the trust. Decision of this issue depends on answers to the following questions:1(1) Was…
2Cases cited11 opinions
- Burnet v. HarmelSupreme Court of the United States · 1932
- Morgan v. CommissionerSupreme Court of the United States · 1940
- Lyeth v. HoeySupreme Court of the United States · 1938
- Finch v. GoldsteinNew York Court of Appeals · 1927
- Philbrick v. CommissionerUnited States Tax Court · 1956
6 more not listed; retrieve them via the Exa API.
3Cited by24 opinions
- Yagoda v. CommissionerUnited States Tax Court · 1962
- Alonzo Wimberly Jenkins, Jr., as Executors Under the Will of Martha O. Jenkins, Deceased v. United StatesCourt of Appeals for the Fifth Circuit · 1970
- Wild v. CommissionerUnited States Tax Court · 1964
- Borbonus v. CommissionerUnited States Tax Court · 1964
- Estate of Van Winkle v. CommissionerUnited States Tax Court · 1969
19 more not listed; retrieve them via the Exa API.