Rathborne v. Commissioner
United States Board of Tax Appeals
Petitioner's father-in-law in his will created a testamentary trust, and directed the trustee in article seventh thereof to "pay out (of) the revenues of the trust estate and out of the principal, should it be necessary to trench upon the latter as authorized in Article 6th hereof" $30,000 per annum to petitioner. Similar bequests except as to amounts were made to other beneficiaries.
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Petitioner's father-in-law in his will created a testamentary trust, and directed the trustee in article seventh thereof to "pay out (of) the revenues of the trust estate and out of the principal, should it be necessary to trench upon the latter as authorized in Article 6th hereof" $30,000 per annum to petitioner. Similar bequests except as to amounts were made to other beneficiaries. The same article of the will provided that in case the revenues of the trust estate should not be sufficient to meet the charges imposed thereon, "the several beneficiaries shall suffer a diminution and loss of…
1Opinion of the Court
MRS. GEORGIE W. RATHBORNE, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Rathborne v. Commissioner
Docket No. 83106.
United States Board of Tax Appeals
37 B.T.A. 936; 1938 BTA LEXIS 961;
May 31, 1938, Promulgated
Petitioner's father-in-law in his will created a testamentary trust, and directed the trustee in article seventh thereof to "pay out (of) the revenues of the trust estate and out of the principal, should it be necessary to trench upon the latter as authorized in Article 6th hereof" $30,000 per annum to petitioner. Similar bequests except as to amounts were made to other…
2Cases cited1 opinion
- Rathborne v. CommissionerUnited States Board of Tax Appeals · 1938