Peck v. Commissioner
United States Board of Tax Appeals
In 1920 petitioner and his then wife agreed upon a property settlement. Pursuant to his wife's request, petitioner transferred the property in trust, the net income to be paid to the wife during her lifetime for the use and benefit of herself and their two children. Petitioner had no power to amend or revoke the trust except with the consent of his wife, and only a remote possibility that the trust corpus would ever revert to him.
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In 1920 petitioner and his then wife agreed upon a property settlement. Pursuant to his wife's request, petitioner transferred the property in trust, the net income to be paid to the wife during her lifetime for the use and benefit of herself and their two children. Petitioner had no power to amend or revoke the trust except with the consent of his wife, and only a remote possibility that the trust corpus would ever revert to him. In 1925 petitioner was granted an absolute divorce in Paris, France. Held, the property settlement and decree of divorce terminated petitioner's marital obligation,…
1Opinion of the Court
ROBERT BOWMAN PECK, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Peck v. Commissioner
Docket No. 100604.
United States Board of Tax Appeals
45 B.T.A. 729; 1941 BTA LEXIS 1078;
November 18, 1941, Promulgated
In 1920 petitioner and his then wife agreed upon a property settlement. Pursuant to his wife's request, petitioner transferred the property in trust, the net income to be paid to the wife during her lifetime for the use and benefit of herself and their two children. Petitioner had no power to amend or revoke the trust except with the consent of his wife, and only a remote…
2Cases cited1 opinion
- Peck v. CommissionerUnited States Board of Tax Appeals · 1941