Estate of Jalkut v. Commissioner
United States Tax Court
In 1971, D created a revocable trust. In the absence of his incapacity, D was the sole permissible beneficiary of the income and principal of the trust during his lifetime. D named himself trustee of the trust. In 1984, D was informed that he had inoperable cancer. In 1984, D made various gift transfers from the revocable trust. In January 1985, D's physician declared that D would no longer be able to serve as trustee.
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In 1971, D created a revocable trust. In the absence of his incapacity, D was the sole permissible beneficiary of the income and principal of the trust during his lifetime. D named himself trustee of the trust. In 1984, D was informed that he had inoperable cancer. In 1984, D made various gift transfers from the revocable trust. In January 1985, D's physician declared that D would no longer be able to serve as trustee. At that time, substitute trustees were appointed for the revocable trust and additional gift transfers were made from the trust. D died testate in 1985. Held, gift transfers…
1Opinion of the Court
Estate of Lee D. Jalkut, Deceased, Nathan M. Grossman, Executor, Petitioner v. Commissioner of Internal Revenue, Respondent
Estate of Jalkut v. Commissioner
Docket No. 1770-89
United States Tax Court
96 T.C. 675; 1991 U.S. Tax Ct. LEXIS 34; 96 T.C. No. 27;
April 29, 1991, Filed
Decision will be entered under Rule 155.
In 1971, D created a revocable trust. In the absence of his incapacity, D was the sole permissible beneficiary of the income and principal of the trust during his lifetime. D named himself trustee of the trust. In 1984, D was informed that he had inoperable cancer. In 1984, D made…
2Cases cited16 opinions
- Aquilino v. United StatesSupreme Court of the United States · 1960
- United States v. WellsSupreme Court of the United States · 1931
- Estate of Sanford v. CommissionerSupreme Court of the United States · 1939
- Rowan Cos. v. United StatesSupreme Court of the United States · 1981
- Allen v. Trust Co. of Ga.Supreme Court of the United States · 1946
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