Estate of Gooel v. Commissioner
United States Tax Court
Under the terms of decedent's will, his surviving spouse W was entitled to the net income from a testamentary trust, but, if such income was less than a specified amount, the trustee was directed to invade corpus so that the net income plus corpus equaled the specified amount. The corpus of the trust remaining at W's death was to go to certain charitable organizations.
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Under the terms of decedent's will, his surviving spouse W was entitled to the net income from a testamentary trust, but, if such income was less than a specified amount, the trustee was directed to invade corpus so that the net income plus corpus equaled the specified amount. The corpus of the trust remaining at W's death was to go to certain charitable organizations. Held, 3.5-percent net rate of return on corpus permitted by regulations not shown to be at variance with the facts. Held, further, probability that entire corpus would be invaded for W's benefit not so remote as to be…
1Opinion of the Court
Tannenwald, Judge:
Respondent determined a deficiency in the Federal estate tax due from the Estate of Elmer Gooel, deceased, in the amount of $57,243.14. Various concessions having been made, the only issue remaining for decision is whether petitioner is entitled to an estate tax deduction with respect to a remainder interest in a trust bequeathed to certain charitable organizations.
FINDINGS OF FACT
Some of the facts have been stipulated and are found accordingly. The stipulation, together with the exhibits attached thereto, is incorporated herein by reference.
Elmer F. Gooel (hereinafter…
2Cases cited29 opinions
- Ithaca Trust Co. v. United StatesSupreme Court of the United States · 1929
- Henslee v. Union Planters National Bank & Trust Co.Supreme Court of the United States · 1949
- Merchants Nat. Bank of Boston v. CommissionerSupreme Court of the United States · 1943
- Goodell v. KochSupreme Court of the United States · 1930
- Estate of Christ v. Comm'rUnited States Tax Court · 1970
24 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Estate of Pollock v. CommissionerUnited States Tax Court · 1981
- Swetland v. CommissionerUnited States Tax Court · 1978
- Estate of Dumesnil v. CommissionerUnited States Tax Court · 1982
- Estate of Gooel v. CommissionerUnited States Tax Court · 1977
- Estate of Moor v. CommissionerUnited States Tax Court · 1982
1 more not listed; retrieve them via the Exa API.