Walker v. Commissioner
United States Tax Court
1. Value of remainder interest in inter vivos trust after discretionary life estates to two minor unmarried grandchildren, which by the terms of the trust was to revert to decedent grantor, or, if he were dead, to his estate, upon the death of the grandchildren without wives or issue prior to receipt of the principal and in default of the exercise of limited powers of appointment, held includible in decedent's gross estate; held, further, no reduction for the value of the…
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1. Value of remainder interest in inter vivos trust after discretionary life estates to two minor unmarried grandchildren, which by the terms of the trust was to revert to decedent grantor, or, if he were dead, to his estate, upon the death of the grandchildren without wives or issue prior to receipt of the principal and in default of the exercise of limited powers of appointment, held includible in decedent's gross estate; held, further, no reduction for the value of the hypothetical exercise of the powers is permissible. 2. Notes executed to decedent by two of his children, which were…
1Opinion of the Court
Estate of William Walker, Deceased, Katharine W. Walker and James E. MacCloskey, Jr., Executors and Trustees, Petitioner, v. Commissioner of Internal Revenue, Respondent
Walker v. Commissioner
Docket No. 159
United States Tax Court
4 T.C. 390; 1944 U.S. Tax Ct. LEXIS 14;
November 30, 1944, Promulgated
Decision will be entered under Rule 50.
1. Value of remainder interest in inter vivos trust after discretionary life estates to two minor unmarried grandchildren, which by the terms of the trust was to revert to decedent grantor, or, if he were dead, to his estate, upon the death of the grandchildren…
Also in this document: Dissent.
2Cases cited14 opinions
- Helvering v. HallockSupreme Court of the United States · 1940
- Reinecke v. Northern Trust Co.Supreme Court of the United States · 1929
- May v. HeinerSupreme Court of the United States · 1930
- Klein v. United StatesSupreme Court of the United States · 1931
- Becker v. St. Louis Union Trust Co.Supreme Court of the United States · 1935
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