Baer v. Commissioner
United States Tax Court
Trust to which gifts were made provided that the income thereof was to be expended for the proper care, maintenance and education of the beneficiaries until they became twenty-five years of age when they were to receive the income currently. The oldest beneficiary was nineteen years of age. The corpus of the trust was payable to the beneficiaries in installments as they became 30, 36, 42, and 48 years of age respectively except in certain eventualities.
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Trust to which gifts were made provided that the income thereof was to be expended for the proper care, maintenance and education of the beneficiaries until they became twenty-five years of age when they were to receive the income currently. The oldest beneficiary was nineteen years of age. The corpus of the trust was payable to the beneficiaries in installments as they became 30, 36, 42, and 48 years of age respectively except in certain eventualities. Held the gifts were of future interests and the donor was not entitled to a $5,000 exclusion in respect of either gift. Life insurance…
1Opinion of the Court
Sidney R. Baer v. Commissioner. S. Charles Baer, also known as Charles S. Baer, Transferee and Beneficiary v. Commissioner. Sidney R. Baer, Jr., Transferee and Beneficiary v. Commissioner. Marguerite S. Baer, Donee and Transferee v. Commissioner.
Baer v. Commissioner
Docket Nos. 109681, 109867, 109868, and 110218.
United States Tax Court
1943 Tax Ct. Memo LEXIS 240; 2 T.C.M. (CCH) 285; T.C.M. (RIA) 43294;
June 21, 1943
Trust to which gifts were made provided that the income thereof was to be expended for the proper care, maintenance and education of the beneficiaries until they became twenty-five…
2Cases cited9 opinions
- United States v. PelzerSupreme Court of the United States · 1941
- United States v. RyersonSupreme Court of the United States · 1941
- Guggenheim v. RasquinSupreme Court of the United States · 1941
- Helvering v. HutchingsSupreme Court of the United States · 1941
- Moore v. CommissionerUnited States Tax Court · 1942
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