Eustis v. Commissioner
United States Board of Tax Appeals
Under the terms of a will creating a trust the income of the trust was to be paid semiannually on June 15 and December 15 to the beneficiaries living on such dates and could not be assigned or anticipated. In event of the death of a beneficiary between such dates the share that he would have received if he had remained alive would go to the other beneficiaries.
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Under the terms of a will creating a trust the income of the trust was to be paid semiannually on June 15 and December 15 to the beneficiaries living on such dates and could not be assigned or anticipated. In event of the death of a beneficiary between such dates the share that he would have received if he had remained alive would go to the other beneficiaries. Held, that the income of the trust for the period December 15 to December 31 constituted income accumulated in trust for the benefit of unascertained persons or persons with contingent interests within the meaning of the provisions of…
1Opinion of the Court
AUGUSTUS H. EUSTIS, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Eustis v. Commissioner
Docket No. 71637.
United States Board of Tax Appeals
30 B.T.A. 820; 1934 BTA LEXIS 1259;
May 31, 1934, Promulgated
Under the terms of a will creating a trust the income of the trust was to be paid semiannually on June 15 and December 15 to the beneficiaries living on such dates and could not be assigned or anticipated. In event of the death of a beneficiary between such dates the share that he would have received if he had remained alive would go to the other beneficiaries. Held, that the income…
2Cases cited1 opinion
- Eustis v. CommissionerUnited States Board of Tax Appeals · 1934