Kimball v. Commissioner
United States Board of Tax Appeals
Where under a trust created in 1892 the settlor retained the right to dispose of the property by will in a manner contrary to that specified in the trust instrument, the trust is revocable and the value of the property is includable in the settlor's gross estate.
1Opinion of the Court
OPINION.
Seawell:
In 1892 the decedent, in contemplation of marriage, transferred in trust certain stocks and bonds, with directions to pay the income thereof to herself for life and upon her death to transfer the corpus equally among her children, if any, the children of any deceased child to receive the share their parent would have received thereunder if living. In case the settlor died without issue living at the time of her death, then the corpus was to go to such person or persons as would be entitled to receive it under the statute of *61distributions of the State of New York. The trust…
2Cases cited10 opinions
- Nichols v. CoolidgeSupreme Court of the United States · 1927
- Chase National Bank v. United StatesSupreme Court of the United States · 1929
- Burnet v. GuggenheimSupreme Court of the United States · 1933
- Milliken v. United StatesSupreme Court of the United States · 1931
- Porter v. CommissionerSupreme Court of the United States · 1933
5 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Bowers v. CommissionerUnited States Board of Tax Appeals · 1936
- Brown v. CommissionerUnited States Board of Tax Appeals · 1939
- Kimball v. CommissionerUnited States Board of Tax Appeals · 1933