Hackett Estate

TAXIS, P. J.,

This appeal has been filed by the executor* of the above-captioned estate. The tax in issue has been assessed upon the corpus of an intervivos trust created by decedent in 1914, which terminates at her death.

Decedent died on May 27, 1971, at the age of 82 years. On April 30, 1914, before her marriage, decedent (nee Holden) created a deed of trust naming the Fidelity Trust Company as trustee. She reserved to herself the right to the net income for her life, and also the right to withdraw up to $5,000 from the principal, which right was exercised in full in 1935. The trust was…