Philbrick v. Manning

MEANEY, District Judge.

The question to be determined by the court in this case is whether or not the subject matter of a trust fund created by the decedent in favor of his son and daughter and their heirs, was taxable as part of the decedent’s gross estate.

The facts as set forth largely by stipulation are as follows:

In 1921 John A. Philbrick, the decedent, created a trust giving one-half of the income to his son (plaintiff herein) and one-half to his daughter until each shall attain the age of 40 years; upon reaching that age, each to receive one-half of the principal of the trust fund. If…