Hanover Bank v. Commissioner

OPINION

Black, Judge:

Petitioners Strong contend that the agreement between Frances’ mother, father, paternal grandmother, and the predecessor of the present trustee, entered into on October 19,1914, did not create a trust fund for the benefit of Frances and that the agreement only provided for the creation of a collateral mortgage security arrangement for the benefit of Frances’ mother in lieu of dower. Petitioners Strong further contend that since the amounts received by Frances’ mother were in lieu of dower the amounts therefore are incidents of inherited property to Frances and her mother.

We…