May v. Commissioner
United States Tax Court
1. Estate Tax -- Gross Estate -- Trusts -- Power to Revoke -- Contemplation of Death -- Sections 811(d)(2) and (d)(4). -- The decedent retained no power to revoke the trust and did not relinquish the power of revocation in contemplation of death.
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1. Estate Tax -- Gross Estate -- Trusts -- Power to Revoke -- Contemplation of Death -- Sections 811(d)(2) and (d)(4). -- The decedent retained no power to revoke the trust and did not relinquish the power of revocation in contemplation of death. Estate Tax -- Deductions -- Claims Against the Estate -- Section 812(b)(3). -- A deduction for an alleged liability of the decedent disallowed because the record does not show that the decedent was liable at the time of his death for any amount. 3. Estate Tax -- Valuation of Interest in a Trust. -- The value of the decedent's participating interest…
1Opinion of the Court
OPINION.
Murdock, Jvdge:
The first contention of the respondent is that the decedent had a power to revoke the 1933 trust under the amendment of December 27,1941. His argument is that a grantor has the power to revoke a trust instrument unless he expressly states in that instrument that he does not retain such a power. He cites no authorities to support that contention. The petitioner contends, on the other hand, that the rule in Pennsylvania, where the decedent resided at the time he executed the trust instrument, and also the rule in New York, where the trustee is situated, is that a…
2Cases cited7 opinions
- Reese's EstateSupreme Court of Pennsylvania · 1935
- Rynd v. BakerSupreme Court of Pennsylvania · 1899
- Fishblate v. FishblateSupreme Court of Pennsylvania · 1913
- Neal v. BlackSupreme Court of Pennsylvania · 1896
- Gage v. Irving Bank & Trust Co.Appellate Division of the Supreme Court of the State of New York · 1927
2 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- Estate of Coleman v. CommissionerUnited States Tax Court · 1969
- Porter v. CommissionerUnited States Tax Court · 1967
- Estate of Davis v. CommissionerUnited States Tax Court · 1968
- Estate of Casey v. CommissionerUnited States Tax Court · 1971
- Estate of Casey v. CommissionerUnited States Tax Court · 1971
5 more not listed; retrieve them via the Exa API.