Goodman v. Commissioner of Internal Revenue

WOODBURY, Circuit Judge.

The sole question presented by this petition for review of a decision of the Tax Court of the United States is the value for gift tax purposes of certain policies of insurance taken out by the taxpayer on the life of her husband. For present purposes the facts may be briefly summarized as follows:

On December 19, 1930, the taxpayer created a trust, transferring to the trustee certain securities, and also five ordinary life, annual premium policies on her husband’s life which she had previously taken out and in which she was named as the beneficiary. Each of these…