Dumont's Estate v. Commissioner of Internal Revenue

MARTIN, Circuit Judge.

Frederick F. Dumont, of Lancaster County, Pennsylvania, executed two wills, one dated May 31, 1938, bearing a codicil of the same date, and the other and later testament dated May 19, 1939. In both wills, after making specific bequests, the testator gave, devised and bequeathed to a trust company, in trust, the residue of his property, real and personal, provided annuities to named relatives, and directed payment to the president of Lafayette College of the balance of the income arising from the trust, to be used in his discretion for the needs of the college or its…