Old Colony Trust Co. v. Commissioner
United States Board of Tax Appeals
1. A general power of appointment by will is exercised by a general devise of real and personal property by the donee of the power if there is nothing in the will of the latter evidencing a contrary intention, and the value of the property subject to the power is includable in the gross estate of the donee of the power. 2. The use by the donee of the power of the phrase "all the property owned by me at the time of my death" and expressions making certain bequests dependent…
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1. A general power of appointment by will is exercised by a general devise of real and personal property by the donee of the power if there is nothing in the will of the latter evidencing a contrary intention, and the value of the property subject to the power is includable in the gross estate of the donee of the power. 2. The use by the donee of the power of the phrase "all the property owned by me at the time of my death" and expressions making certain bequests dependent on the value of his estate does not indicate an intention not to exercise the power. 3. Where the power was exercised and…
1Opinion of the Court
OLD COLONY TRUST COMPANY, EXECUTOR OF THE WILL OF VREDENBURGH MINOT, DECEASED, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Old Colony Trust Co. v. Commissioner
Docket No. 62089.
United States Board of Tax Appeals
29 B.T.A. 677; 1934 BTA LEXIS 1496;
January 5, 1934, Promulgated
1. A general power of appointment by will is exercised by a general devise of real and personal property by the donee of the power if there is nothing in the will of the latter evidencing a contrary intention, and the value of the property subject to the power is includable in the gross estate of the donee of…
2Cases cited1 opinion
- Old Colony Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1934