Estate of Jones v. Commissioner
United States Tax Court
A power of appointment authorized the decedent and a bank as cotrustees of a testamentary trust to pay over to the decedent part or all of the principal of the trust in cases of emergency or in situations affecting her care, maintenance, health, welfare and well-being. Held, the power exercisable in favor of the decedent was not limited by an ascertainable standard relating to the health, education, support, or maintenance of the decedent.
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A power of appointment authorized the decedent and a bank as cotrustees of a testamentary trust to pay over to the decedent part or all of the principal of the trust in cases of emergency or in situations affecting her care, maintenance, health, welfare and well-being. Held, the power exercisable in favor of the decedent was not limited by an ascertainable standard relating to the health, education, support, or maintenance of the decedent. Held, further, the decedent as coholder of the power had at the time of her death a general power of appointment created after Oct. 21, 1942. Held,…
1Opinion of the Court
Quealy, Judge:
The respondent determined a deficiency in estate tax in the amount of $83,511.81. The ultimate issue in this case is whether Effie Kells J ones had a general power of appointment sufficient to cause the corpus of her husband’s testamentary trust to be includable in her gross estate under section 2041.1
FINDINGS OF FACT
The facts were fully stipulated, and these facts and exhibits incorporated therein are so found.
The petitioner is a fiduciary as administrator c.t.a. of the Estate of Effie Kells Jones, deceased, by appointment of the Bergen County Surrogate’s Office, State of New…
2Cases cited12 opinions
- Fidelity Union Trust Co. v. RobertSupreme Court of New Jersey · 1962
- President of the Manhattan Co. v. ArmourSupreme Court of New Jersey · 1953
- Horace S. Miller, Jr. And Isabel M. Campbell, Co-Executors of the Estate of Isabella Steel Miller, Deceased v. United StatesCourt of Appeals for the Third Circuit · 1968
- Strite v. McGinnesCourt of Appeals for the Third Circuit · 1964
- Peoples Trust Company Of Bergen County v. United StatesCourt of Appeals for the Third Circuit · 1969
7 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- Estate of NunnCalifornia Supreme Court · 1974
- Maytag v. United StatesCourt of Appeals for the Tenth Circuit · 1974
- Estate of Little v. CommissionerUnited States Tax Court · 1986
- Estate of Sowell v. CommissionerUnited States Tax Court · 1980
- Carlson v. Sweeney, Dabagia, Donoghue, Thorne, Janes & PagosIndiana Court of Appeals · 2007
11 more not listed; retrieve them via the Exa API.