Legg v. Commissioner
United States Board of Tax Appeals
1. ESTATE TAX - GROSS ESTATE - POWERS OF APPOINTMENT. - In determining whether the exercise of a power of appointment by will in Pennsylvania violates the rule against perpetuities, the actual facts as opposed to the possibilities govern, and where the donee of a power exercises it by placing the property in trust for the life of her children and twenty-one years thereafter, and it appears that at her death she had but one child, who was alive at the time of the death of the…
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1. ESTATE TAX - GROSS ESTATE - POWERS OF APPOINTMENT. - In determining whether the exercise of a power of appointment by will in Pennsylvania violates the rule against perpetuities, the actual facts as opposed to the possibilities govern, and where the donee of a power exercises it by placing the property in trust for the life of her children and twenty-one years thereafter, and it appears that at her death she had but one child, who was alive at the time of the death of the donor, the rule against perpetuities is not violated. 2. Id. - Spendthrift provisions of donor's will were intended to…
1Opinion of the Court
ESTATE OF MILDRED SHEPPARD LEGG, SAFE DEPOSIT AND TRUST COMPANY OF BALTIMORE, EXECUTOR, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Legg v. Commissioner
Docket No. 89942.
United States Board of Tax Appeals
40 B.T.A. 1074; 1939 BTA LEXIS 763;
December 7, 1939, Promulgated
1. ESTATE TAX - GROSS ESTATE - POWERS OF APPOINTMENT. - In determining whether the exercise of a power of appointment by will in Pennsylvania violates the rule against perpetuities, the actual facts as opposed to the possibilities govern, and where the donee of a power exercises it by placing the property in trust…
2Cases cited1 opinion
- Legg v. CommissionerUnited States Board of Tax Appeals · 1939