Willcuts v. Douglas

STONE, Circuit Judge.

This is an appeal by the collector from a judgment according refund of income taxes,

On the 15th of September, 1923, a decree of divoree was entered in favor of Ida M. Douglas, wife of Edward Bruce Douglas, appellee. Three days prior thereto, the above parties and the Minneapolis Trust Company entered into a trust agreement whereby appellee deposited certain securities of par or estimated value of $300,000 with the trust company as trustee, and further provided for the delivery to the trustee, on November 6, 1927, of further property to be received i'rom his father’s…