Carlton v. Commissioner
United States Tax Court
Decedent, in 1930, created a trust to which he conveyed securities and life insurance policies, retaining certain powers and reserving, for life, the income remaining after payment of premiums on the policies. Decedent agreed with beneficiary and beneficiary's wife not to change terms of trust without their consent.
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Decedent, in 1930, created a trust to which he conveyed securities and life insurance policies, retaining certain powers and reserving, for life, the income remaining after payment of premiums on the policies. Decedent agreed with beneficiary and beneficiary's wife not to change terms of trust without their consent. Without obtaining such consent decedent thereafter, by letter and subsequently by executed instrument both delivered to the trustee, released all retained powers except the power to appoint a successor trustee to the individual trustee who had resigned, which right had not been…
1Opinion of the Court
Estate of Newcomb Carlton, Deceased, Winslow Carlton and The Chase Manhattan Bank (Successor to The Chase National Bank of the City of New York), Executors, Petitioner, v. Commissioner of Internal Revenue, Respondent
Carlton v. Commissioner
Docket No. 65119
United States Tax Court
34 T.C. 988; 1960 U.S. Tax Ct. LEXIS 80;
September 15, 1960, Filed
Decision will be entered under Rule 50.
Decedent, in 1930, created a trust to which he conveyed securities and life insurance policies, retaining certain powers and reserving, for life, the income remaining after payment of premiums on the policies.…
2Cases cited23 opinions
- Lober v. United StatesSupreme Court of the United States · 1953
- Tutunjian v. VetzigianNew York Court of Appeals · 1949
- Commissioner of Internal Revenue v. TreganowanCourt of Appeals for the Second Circuit · 1950
- United States v. Manufacturers National Bank of DetroitSupreme Court of the United States · 1960
- Cuddihy v. CommissionerUnited States Tax Court · 1959
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