Estate of Green v. Commissioner
United States Tax Court
1. Decedent transferred assets in trust and thereafter in fact received distributions during the remainder of her life which in the aggregate exceeded the net income of the trust. In the gift tax return filed by her upon the creation of the trust the value of a retained life estate was subtracted in computing the amount of the taxable gift.
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1. Decedent transferred assets in trust and thereafter in fact received distributions during the remainder of her life which in the aggregate exceeded the net income of the trust. In the gift tax return filed by her upon the creation of the trust the value of a retained life estate was subtracted in computing the amount of the taxable gift. Held, decedent retained the "enjoyment" of the assets transferred in trust within sec. 2036(a)(1), I.R.C. 1954, by reason of at least an implied understanding, found herein, that the income therefrom would be distributed to her. Cf. Skinner's Estate v.…
1Opinion of the Court
Estate of Marguerite M. Green, Deceased, and Virginia G. Paul and Francis W. Green, Jr., Co-Executors, Petitioners v. Commissioner of Internal Revenue, Respondent
Estate of Green v. Commissioner
Docket No. 3274-74
United States Tax Court
64 T.C. 1049; 1975 U.S. Tax Ct. LEXIS 67;
September 17, 1975, Filed
Decision will be entered under Rule 155.
1. Decedent transferred assets in trust and thereafter in fact received distributions during the remainder of her life which in the aggregate exceeded the net income of the trust. In the gift tax return filed by her upon the creation of the trust the value of…
2Cases cited23 opinions
- Estate of Sanford v. CommissionerSupreme Court of the United States · 1939
- Henslee v. Union Planters National Bank & Trust Co.Supreme Court of the United States · 1949
- Merchants Nat. Bank of Boston v. CommissionerSupreme Court of the United States · 1943
- Commissioner v. Estate of ChurchSupreme Court of the United States · 1949
- Commissioner v. Estate of HolmesSupreme Court of the United States · 1946
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