Jennings v. Commissioner
United States Tax Court
1. Charitable bequests of the remainder interest in residuary estate, after life estate in decedent's invalid husband, with power in the trustee to invade the principal for husband's "care and maintenance," held deductible. 2. Value of such remainder interest determined with reference to actual physical condition of life beneficiary on the date of decedent's death, rather than by use of established mortality tables exclusively.
1Opinion of the Court
OPINION.
LeMire Judge:
The courts of proper jurisdiction have construed the decedent’s will as vesting the remainder of the residuary estate in the named charitable organizations, and that ruling is not challenged by the respondent here. The Commissioner contends, however, that the charitable bequests are incapable of valuation, and, therefore, not deductible under section 812 (d), Internal Revenue Code, because of the power in the trustee to invade the corpus of the testamentary trust for the benefit of the decedent’s surviving husband.
Item I of the will provides that, if the husband survives…
2Cases cited5 opinions
- Ithaca Trust Co. v. United StatesSupreme Court of the United States · 1929
- United States v. Provident Trust Co.Supreme Court of the United States · 1934
- Jack v. CommissionerUnited States Tax Court · 1946
- Estate of Denbigh ex rel. Denbigh v. CommissionerUnited States Tax Court · 1946
- Estate of Wetherill v. CommissionerUnited States Tax Court · 1945
3Cited by43 opinions
- Huntington Nat'l Bank v. CommissionerUnited States Tax Court · 1949
- Cook v. Commissioner of the Internal Revenue ServiceCourt of Appeals for the Fifth Circuit · 2003
- Estate of McLendon v. CommissionerCourt of Appeals for the Fifth Circuit · 1998
- Butler v. CommissionerUnited States Tax Court · 1952
- Estate of Gribauskas v. CommissionerUnited States Tax Court · 2001
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