Drake v. Commissioner
United States Board of Tax Appeals
1. Where a widow elects to become beneficiary of a trust created by the will of her deceased husband, in lieu of her statutory rights in his estate, the income paid to her from such trust is taxable to her as ordinary income without regard to the value of her marital interests surrendered.
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1. Where a widow elects to become beneficiary of a trust created by the will of her deceased husband, in lieu of her statutory rights in his estate, the income paid to her from such trust is taxable to her as ordinary income without regard to the value of her marital interests surrendered. Commissioner v. Butterworth,290 U.S. 365. 2. Held, that payments made to decedent taxpayer by a trust established by a will were not, in view of the terms of the will, impressed with any further or additional trust requiring her to share them with minor children, but that they constituted sole and separate…
1Opinion of the Court
FRANCIS ERNEST DRAKE, EXECUTOR OF THE ESTATE OF MRS. IVOR O'CONNOR DRAKE, DECEASED, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
FRANCIS ERNEST DRAKE, EXECUTOR OF THE ESTATE OF MRS. FRANCIS E. DRAKE, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Drake v. Commissioner
Docket Nos. 14139, 22308, 34670, 42625, 49028.
United States Board of Tax Appeals
30 B.T.A. 461; 1934 BTA LEXIS 1321;
April 24, 1934, Promulgated
1. Where a widow elects to become beneficiary of a trust created by the will of her deceased husband, in lieu of her statutory rights in his estate, the income…
2Cases cited2 opinions
- Helvering v. ButterworthSupreme Court of the United States · 1933
- Drake v. CommissionerUnited States Board of Tax Appeals · 1934