Estate of Little v. Commissioner
United States Tax Court
Decedent possessed at the time of his death a power to invade, for his benefit, income and corpus of a trust. The power was limited to the standard that the invasion be for decedent's "proper support, maintenance, welfare, health and general happiness in the manner to which he is accustomed at the time of the death of [his wife]." Held: The power is not excepted from the definition of general power of appointment under sec. 2041(b)(1)(A), I.R.C. 1954, because the standard…
Read the full summary
Decedent possessed at the time of his death a power to invade, for his benefit, income and corpus of a trust. The power was limited to the standard that the invasion be for decedent's "proper support, maintenance, welfare, health and general happiness in the manner to which he is accustomed at the time of the death of [his wife]." Held: The power is not excepted from the definition of general power of appointment under sec. 2041(b)(1)(A), I.R.C. 1954, because the standard which limits the power does not relate solely to the health, education, support, or maintenance of decedent. Respondent's…
1Opinion of the Court
OPINION
FAY, Judge:
Respondent determined a deficiency of $191,087 in the Federal estate tax of the Estate of John Russell Little. The only issue is whether the value of assets of a trust of which John Russell Little was a beneficiary and the sole trustee is includable in his estate under section 2041.1
This case has been submitted under Rule 122. All of the facts have been stipulated and are found accordingly.2
Petitioner Crocker National Bank is the executor of the Estate of John Russell Little. Petitioner’s principal office was located in San Francisco, California, when the petition herein was…
2Cases cited13 opinions
- Morgan v. CommissionerSupreme Court of the United States · 1940
- Estate of Ford v. CommissionerUnited States Tax Court · 1969
- Estate of NunnCalifornia Supreme Court · 1974
- Estate of Jones v. CommissionerUnited States Tax Court · 1971
- Estate of Ida Maude Sowell, Homer T. Sowell v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1983
8 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Estate of Vissering v. CommissionerUnited States Tax Court · 1991
- Hyde v. United StatesDistrict Court, D. New Hampshire · 1996
- Estate of Levitt v. CommissionerUnited States Tax Court · 1990
- Estate of Levitt v. CommissionerUnited States Tax Court · 1990
- Estate of Little v. CommissionerUnited States Tax Court · 1986
4 more not listed; retrieve them via the Exa API.