Spero v. Commissioner
United States Tax Court
Under decedent's will, all the rest, residue, and remainder of decedent's property was transferred in trust and became the corpus of two trusts designated in the will as "First Trust" and "Second Trust." Under the will, decedent nominated and appointed his wife and a bank as joint trustees. All of the income of the First Trust was to be paid to decedent's wife, during her life, in quarterly installments or oftener.
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Under decedent's will, all the rest, residue, and remainder of decedent's property was transferred in trust and became the corpus of two trusts designated in the will as "First Trust" and "Second Trust." Under the will, decedent nominated and appointed his wife and a bank as joint trustees. All of the income of the First Trust was to be paid to decedent's wife, during her life, in quarterly installments or oftener. With respect to the First Trust, decedent authorized and empowered his trustees "to use so much of the principal of this Trust as may be necessary at any time, in their discretion,…
1Opinion of the Court
Estate of Morton H. Spero, Bryna S. Spero, Executrix, Petitioner, v. Commissioner of Internal Revenue, Respondent
Spero v. Commissioner
Docket No. 67912
United States Tax Court
34 T.C. 1116; 1960 U.S. Tax Ct. LEXIS 65;
September 26, 1960, Filed
Decision will be entered under Rule 50.
Under decedent's will, all the rest, residue, and remainder of decedent's property was transferred in trust and became the corpus of two trusts designated in the will as "First Trust" and "Second Trust." Under the will, decedent nominated and appointed his wife and a bank as joint trustees. All of the income of the…
2Cases cited12 opinions
- New Colonial Ice Co. v. HelveringSupreme Court of the United States · 1934
- Deputy, Administratrix v. Du PontSupreme Court of the United States · 1940
- Mansfield v. SheltonSupreme Court of Connecticut · 1896
- Hoffenberg v. CommissionerUnited States Tax Court · 1954
- Tarver v. CommissionerUnited States Tax Court · 1956
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