Jones v. Commissioner
United States Board of Tax Appeals
A testator bequeathed his property to his wife for life, with remainder to their daughter "absolutely in fee." By the terms of the will be widow was given the "power to dispose of said property and to do and act with the same as her own to devise, mortgage, or sell and deed the same in fee."
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A testator bequeathed his property to his wife for life, with remainder to their daughter "absolutely in fee." By the terms of the will be widow was given the "power to dispose of said property and to do and act with the same as her own to devise, mortgage, or sell and deed the same in fee." During her lifetime the widow, for a nominal consideration, made a revocable transfer in trust of certain securities received under the will of her husband, directing that she receive the income therefrom for life, and upon her death that the entire trust estate (with exception of $10,000) be paid to her…
1Opinion of the Court
OPINION.
Mellott:
The respondent determined a deficiency in estate tax in the amount of $17,863.53. The sole question is whether or not the value of certain securities which Carrie L. Jones transferred to trustees during her lifetime is includable in her gross estate.
We find the facts to be as stipulated. For the purposes of this report the following summation will suffice :
George Prentise Jones died testate on August 26, 1918. His will, in so far as here pertinent, provided as follows:
I, Geo. Prentise Jones, of the City of St. Louis, State of Missouri, being of sound mind and disposing memory,…
2Cases cited19 opinions
- Helvering v. GrinnellSupreme Court of the United States · 1935
- In Re the Appraisal, Under the Transfer Tax Act, of the Estate of LansingNew York Court of Appeals · 1905
- Grace v. PerrySupreme Court of Missouri · 1906
- Garland v. SmithSupreme Court of Missouri · 1901
- Lee v. SimpsonSupreme Court of the United States · 1890
14 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Jones v. CommissionerUnited States Board of Tax Appeals · 1940