Colorado National Bank v. Commissioner

Edwin B. Hendrie of Denver, Colorado, January 26, 1925, executed a will wherein he gave his property, with relatively small exceptions, to trustees to be held for the benefit of his daughter, Gertrude Hendrie Grant, and her children. January 7, 1927, when eighty years old and in good health, he irrevocably conveyed in trust to the Colorado National Bank, securities of large value — perhaps $800,000. The deed among other things provided that the income should be accumulated during the donor’s life; after his death and during the life of his daughter Gertrude so much thereof as she asked should…