Commissioner of Internal Revenue v. Stokes

DAVIS, Circuit Judge.

This case involves the income tax liabilities of the taxpayer, Francis J. Stokes, for the years 1929 and 1930.

In 1928, the taxpayer executed a trust agreement whereby he transferred certain securities to the trustee to use the income therefrom for the maintenance, education, and support of his several minor children. The agreement directed the trustee, as each child became twenty-one years of age, or died prior to that time, to transfer the equal share of the fund of that child to the wife of the 'taxpayer, or if she should not be living, to the taxpayer himself, and if…