Wooster v. Commissioner
United States Tax Court
1. Decedent's father in 1916 created a trust for her and two of her sisters, providing general powers of appointment over both income and corpus. The trust provided that, in case a sister died without exercising the power and without surviving issue, the survivor or survivors took the powers. One sister died without surviving issue and without exercising the power, whereupon decedent and her sister Ruth were owners of a half interest each in the powers.
Read the full summary
1. Decedent's father in 1916 created a trust for her and two of her sisters, providing general powers of appointment over both income and corpus. The trust provided that, in case a sister died without exercising the power and without surviving issue, the survivor or survivors took the powers. One sister died without surviving issue and without exercising the power, whereupon decedent and her sister Ruth were owners of a half interest each in the powers. Decedent by will provided that, in case her sister Ruth should survive her, one-half of decedent's share of trust principal and income should…
1Opinion of the Court
OPINION.
Disney, Judge:
The decedent had under the trust received a general power of appointment over trust corpus and income. The Commissioner included the value thereof in her gross estate, acting under section 811 (f), Internal Eevenue Code, as amended by section 403 (a) of the Eevenue Act of 1942; as further amended by Public Law 809, 77th Congress, December 17, 1942.1 In substance, that statute, as amended, provides generally for inclusion in gross estate of any property with respect to which the decedent has at death a power of appointment. The parties have stipulated that the decedent…
2Cases cited8 opinions
- Freuler v. HelveringSupreme Court of the United States · 1934
- Riggs v. Del DragoSupreme Court of the United States · 1942
- Estate of Rogers v. CommissionerSupreme Court of the United States · 1943
- McGee v. VandeventerIllinois Supreme Court · 1927
- Bradford v. AndrewIllinois Supreme Court · 1923
3 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Wooster v. CommissionerUnited States Tax Court · 1947