Clark Trust v. Commissioner
United States Tax Court
The Clark Trust was created to provide perpetual care for cemetery lots located in the trustee's cemetery. The trust agreement provided that the trustee was to "apply" trust income to perpetual care of the cemetery lots. There was no express power to accumulate income. Held, the trust agreement must be interpreted so as to fulfill the purposes of the grantor, and due to the nature of those purposes, the Clark Trust is not required to distribute all of its income currently.
1Opinion of the Court
William A. Clark Trust, the Woodlawn Cemetery, Trustee, Petitioner v. Commissioner of Internal Revenue, Respondent
Clark Trust v. Commissioner
Docket No. 101-66
United States Tax Court
49 T.C. 456; 1968 U.S. Tax Ct. LEXIS 182;
February 5, 1968, Filed
Decision will be entered for the respondent.
The Clark Trust was created to provide perpetual care for cemetery lots located in the trustee's cemetery. The trust agreement provided that the trustee was to "apply" trust income to perpetual care of the cemetery lots. There was no express power to accumulate income. Held, the trust agreement must be…
2Cases cited4 opinions
- Gasquet v. PollockAppellate Division of the Supreme Court of the State of New York · 1896
- In re the Estate of GeltmanNew York Surrogate's Court · 1949
- Ridge v. FeltNew York Supreme Court · 1945
- Clark Trust v. CommissionerUnited States Tax Court · 1968