Old Colony Trust Co. v. Commissioner of Internal Revenue

MORTON, Circuit Judge.

This is a petition by the Massachusetts executor of Vredenburgh Minot to review a decision by the Board of Tax Appeals which affirmed the Commissioner’s action in holding certain trust funds taxable as part of the decedent’s estate.

The question is whether a residuary bequest in common form in Minot’s will operated as an execution of powers of appointment which he held over two trust funds. The executor’s first contention is that the powers were not exercised and the corpus of the funds did not pass as part of the estate. In the settlement of the estate this same…