Estate of Webster v. Commissioner
United States Tax Court
Decedent's husband gave her 4,000 shares of stock in January of 1922. Decedent transferred these shares to a trust, created for her four children, in December of 1923. The trust indenture stated that decedent could terminate the trust with the consent of two of her children. At decedent's death, only one of her children was living. Decedent borrowed money to purchase United States Treasury bonds 3 1/2's of 11/15/98, which later were used to pay part of her estate tax.
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Decedent's husband gave her 4,000 shares of stock in January of 1922. Decedent transferred these shares to a trust, created for her four children, in December of 1923. The trust indenture stated that decedent could terminate the trust with the consent of two of her children. At decedent's death, only one of her children was living. Decedent borrowed money to purchase United States Treasury bonds 3 1/2's of 11/15/98, which later were used to pay part of her estate tax. Held, petitioner has failed to carry its burden of proving that decedent's husband, not decedent, was the actual transferor of…
1Opinion of the Court
Estate of Jane deP. Webster, Deceased, Henry U. Harris, Charles F. Hovey and James H. Orr, Co-Executors, Petitioners v. Commissioner of Internal Revenue, Respondent
Estate of Webster v. Commissioner
Docket Nos. 181-74, 8799-74
United States Tax Court
65 T.C. 968; 1976 U.S. Tax Ct. LEXIS 158;
February 12, 1976, Filed
Decision will be entered under Rule 155 in docket No. 181-74.
Decision will be entered for the respondent in docket No. 8799-74.
Decedent's husband gave her 4,000 shares of stock in January of 1922. Decedent transferred these shares to a trust, created for her four children, in December…
2Cases cited25 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Commissioner v. Estate of BoschSupreme Court of the United States · 1967
- Estate of Sanford v. CommissionerSupreme Court of the United States · 1939
- Schmitz v. CommissionerUnited States Tax Court · 1968
- Estate of Smith v. CommissionerUnited States Tax Court · 1972
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