Paul v. Commissioner
United States Tax Court
1. The decedent in her will appointed remainders after life estates to the issue of five of her children who were born after the death of the donor of the power of appointment. The donor had bequeathed to the decedent a life estate with a general testamentary power of appointment over the remainder.
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1. The decedent in her will appointed remainders after life estates to the issue of five of her children who were born after the death of the donor of the power of appointment. The donor had bequeathed to the decedent a life estate with a general testamentary power of appointment over the remainder. Held, that under the laws of Pennsylvania, the limitation attempting to create remainder interests violated the rule against perpetuities and the remainders are void. 2. Held, further, the term "exercised" as used in section 403 (d) (3) of the Revenue Act of 1942 does not include an appointment…
1Opinion of the Court
OPINION.
Aeundell, Judge:
At the hearing, counsel for petitioner conceded that respondent did not err in including the value of the life estate of the decedent’s five children in decedent’s gross estate for purposes of determining the estate tax. Thus, the only remaining error assigned is the inclusion of the value of the remainder interests limited in favor of the issue of these five children. Petitioner contends that the provision in which decedent attempted to appoint remainder interests in favor of the issue of the five children born after the death of the donor was void because it violated…
2Cases cited11 opinions
- Estate of LawrencePennsylvania Orphans' Court, Philadelphia County · 1890
- Lockhart's EstateSupreme Court of Pennsylvania · 1932
- Lilley's EstateSupreme Court of Pennsylvania · 1922
- Warren's EstateSupreme Court of Pennsylvania · 1935
- Legg's Estate v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1940
6 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Brockman Bldg. Corp. v. CommissionerUnited States Tax Court · 1953
- Minot v. CommissionerUnited States Tax Court · 1966
- Keating v. MayerDistrict Court, E.D. Pennsylvania · 1955
- Brockman Bldg. Corp. v. CommissionerUnited States Tax Court · 1953
- Minot v. CommissionerUnited States Tax Court · 1966
1 more not listed; retrieve them via the Exa API.