Durant v. Commissioner
United States Board of Tax Appeals
Where decedent transferred substantially all of her estate to a trust under an instrument which provided for monthly payments out of income or corpus to decedent, in stipulated amounts in excess of probable earnings of the trust corpus, and for further payments in the trustees' discretion for travel, the purchase of a home, and for decedent's "comfort, maintenance and enjoyment of living" and, upon decedent's death, for payment of her debts, held, respondent properly…
Read the full summary
Where decedent transferred substantially all of her estate to a trust under an instrument which provided for monthly payments out of income or corpus to decedent, in stipulated amounts in excess of probable earnings of the trust corpus, and for further payments in the trustees' discretion for travel, the purchase of a home, and for decedent's "comfort, maintenance and enjoyment of living" and, upon decedent's death, for payment of her debts, held, respondent properly included the trust corpus as a part of decedent's gross estate.
1Opinion of the Court
ESTATE OF NORMA P. DURANT - MARSHALL & ILSLEY BANK AND HERMAN F. FRIEDRICH, EXECUTORS, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Durant v. Commissioner
Docket No. 93079.
United States Board of Tax Appeals
41 B.T.A. 462; 1940 BTA LEXIS 1181;
February 27, 1940, Promulgated
Where decedent transferred substantially all of her estate to a trust under an instrument which provided for monthly payments out of income or corpus to decedent, in stipulated amounts in excess of probable earnings of the trust corpus, and for further payments in the trustees' discretion for travel, the…
2Cases cited1 opinion
- Durant v. CommissionerUnited States Board of Tax Appeals · 1940