Fondren v. Commissioner
United States Tax Court
W. W. Fondren and wife created separate, irrevocable trusts for the benefit of each of their seven minor grandchildren. Each trust instrument provided that the trust income, and thereafter trust corpus, if it be necessary, should be used for the proper maintenance, support, and education of each grandchild.
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W. W. Fondren and wife created separate, irrevocable trusts for the benefit of each of their seven minor grandchildren. Each trust instrument provided that the trust income, and thereafter trust corpus, if it be necessary, should be used for the proper maintenance, support, and education of each grandchild. If the trust income was not needed for these purposes it was to be accumulated and added to corpus and distributed in stated percentages upon each beneficiary arriving at the age of 25, 30, and 35, with remainder over in case of death. Held, as the obligation to support the beneficiaries…
1Opinion of the Court
OPINION.
Aenold, Judge:
These proceedings, consolidated for decision, involve gift tax deficiencies for 1937 of $8,400 each. The sole issue is whether gifts in trust were gifts of future interests, thereby prohibiting any $5,000 exclusion. The cases were submitted upon stipulated facts and exhibits. The stipulated facts are adopted as our findings of fact and the material portions are hereinafter set forth.
During the taxable year, and prior and subsequent thereto, Ella F. Fondren and W. W. Fondren were husband and wife, residing and domiciled in Texas. W. W. Fondren died testate January 5,…
2Cases cited4 opinions
- United States v. PelzerSupreme Court of the United States · 1941
- Helvering v. HutchingsSupreme Court of the United States · 1941
- Ryerson v. United StatesSupreme Court of the United States · 1941
- Hutchings v. CommissionerUnited States Tax Court · 1943
3Cited by12 opinions
- Fondren v. CommissionerSupreme Court of the United States · 1945
- Calder v. CommissionerUnited States Tax Court · 1985
- Benfer v. CommissionerUnited States Tax Court · 1965
- Sharp v. CommissionerUnited States Tax Court · 1944
- Allen v. CommissionerUnited States Tax Court · 1944
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