Estate of Casey v. Commissioner
United States Tax Court
Prior to his death decedent and his wife, residents of California, placed 7,500 shares of stock in trust with their niece's children as beneficiaries and the niece as trustee. At the time of delivery to the trustee the terms of the trust were not reduced to writing and there was no express instruction as to revocability. Seven days later the terms were reduced to a writing containing a provision allowing revocation.
Read the full summary
Prior to his death decedent and his wife, residents of California, placed 7,500 shares of stock in trust with their niece's children as beneficiaries and the niece as trustee. At the time of delivery to the trustee the terms of the trust were not reduced to writing and there was no express instruction as to revocability. Seven days later the terms were reduced to a writing containing a provision allowing revocation. Held: The trust is revocable and decedent's community property portion must be included in his estate under sec. 2038, I.R.C. 1954. The subsequent writing incorporating the terms…
1Opinion of the Court
Estate of Harold E. Casey, Angela E. Casey, Executrix, Petitioner v. Commissioner of Internal Revenue, Respondent
Estate of Casey v. Commissioner
Docket No. 2661-68
United States Tax Court
55 T.C. 737; 1971 U.S. Tax Ct. LEXIS 189;
February 8, 1971, Filed
Decision will be entered for the respondent.
Prior to his death decedent and his wife, residents of California, placed 7,500 shares of stock in trust with their niece's children as beneficiaries and the niece as trustee. At the time of delivery to the trustee the terms of the trust were not reduced to writing and there was no express instruction as…
2Cases cited8 opinions
- Will Flitcroft and Agnes D. Flitcroft v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1964
- Lois J. Newman (Formerly Lois J. Senderman) v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1955
- Flitcroft v. CommissionerUnited States Tax Court · 1962
- Newman v. CommissionerUnited States Tax Court · 1953
- Nat'l Bank of Cal. v. Exch. Nat'l Bank of Long BeachCalifornia Supreme Court · 1921
3 more not listed; retrieve them via the Exa API.