Lloyd v. Commissioner
United States Tax Court
Shortly before his first and only marriage, which occurred at the age of 73, the decedent made a draft of a will under which at his death all of his property, with minor exceptions, would be placed in trust with the income therefrom to be paid to his wife during her life, thereafter to his two sisters and upon the death of the survivor of his sisters the corpus of the trust to be distributed, one-half to decedent's nephews and nieces and one-half to certain named charitable,…
Read the full summary
Shortly before his first and only marriage, which occurred at the age of 73, the decedent made a draft of a will under which at his death all of his property, with minor exceptions, would be placed in trust with the income therefrom to be paid to his wife during her life, thereafter to his two sisters and upon the death of the survivor of his sisters the corpus of the trust to be distributed, one-half to decedent's nephews and nieces and one-half to certain named charitable, educational, and religious organizations. Pursuant to the suggestion of a long-time business adviser who was in charge…
1Opinion of the Court
Estate of Malcolm Lloyd, Jr., Mary Dercum Lloyd, The Pennsylvania Company for Banking and Trusts, Executors, Petitioner, v. Commissioner of Internal Revenue, Respondent
Lloyd v. Commissioner
Docket No. 48379
United States Tax Court
24 T.C. 624; 1955 U.S. Tax Ct. LEXIS 150;
June 30, 1955, Filed
Decision will be entered under Rule 50.
Shortly before his first and only marriage, which occurred at the age of 73, the decedent made a draft of a will under which at his death all of his property, with minor exceptions, would be placed in trust with the income therefrom to be paid to his wife during her…
2Cases cited13 opinions
- Mayer's EstateSupreme Court of Pennsylvania · 1927
- Logan v. WileySupreme Court of Pennsylvania · 1947
- Riegel v. OliverSupreme Court of Pennsylvania · 1945
- Patterson's EstateSupreme Court of Pennsylvania · 1938
- Baker v. National Savings and Trust Co.Court of Appeals for the D.C. Circuit · 1950
8 more not listed; retrieve them via the Exa API.