Legal Opinion
Colonial Trust Co. v. Commissioner of Internal Revenue
Court of Appeals for the Second Circuit
Decided May 6, 1940No. 180PublishedCited by 3 opinions
1Opinion of the Court
AUGUSTUS N. HAND, Circuit Judge.
On November 3, 1930, the testator Thomas I. Walker, and his wife Marion A. Walker, executed a trust instrument transferring to the Colonial Trust Company certain stock and bonds stated therein to be transferred by each grantor with power to hold, manage, sell, invest and reinvest the corpus. The instrument recited that the grantors desired to create the trust “in order that they may be assured of a certain income during their joint lives and the life of the survivor of them”. It provided that the trustee should pay the net income to the grantors during their…
2Cases cited4 opinions
- Porter v. CommissionerSupreme Court of the United States · 1933
- Lowell v. LowellSupreme Court of Iowa · 1919
- In re McConnellDistrict Court, N.D. New York · 1912
- Adams v. LeavensSupreme Court of Connecticut · 1849
3Cited by3 opinions
- Hanauer's Estate v. Commissioner of Internal Rev.Court of Appeals for the Second Circuit · 1945
- Procter v. WoodhouseSupreme Court of Vermont · 1968
- Commissioner of Internal Revenue v. SolomonCourt of Appeals for the Third Circuit · 1941