Fish v. Commissioner
United States Board of Tax Appeals
1. Value of trust created by decedent held not part of gross estate by reason of decedent's inter vivos power to terminate trust with consent of the life tenant, merely because she was his wife, where she had also the power to appoint the remainder. Louis C. Raegner, Jr., et al. Executors,29 B.T.A. 1243, followed.
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1. Value of trust created by decedent held not part of gross estate by reason of decedent's inter vivos power to terminate trust with consent of the life tenant, merely because she was his wife, where she had also the power to appoint the remainder. Louis C. Raegner, Jr., et al. Executors,29 B.T.A. 1243, followed. Helvering v. Clifford309 U.S. 331, distinguished. 2. Reciprocal trust contemporaneously created by decedent's wife, which gave decedent the trust income for life and a power of appointment, held, taxable as part of decedent's estate. Lehman v. Commissioner, 109 Fed.(2d) 99, and…
1Opinion of the Court
OPINION.
Opper:
Respondent determined a deficiency of $109,015.72 in the estate tax of decedent Frederick S. Fish. By amended answer the claimed deficiency was increased to $244,230.78.
The questions to be decided in this proceeding are what amounts, if any, of two trust funds established on December 18, 1919, one by decedent and the other by his wife, are includible in decedent’s gross estate. • It is stipulated that the sum of $10,369.82, income of the trust created by decedent’s wife, was due and owing decedent at his death and is taxable as part of his estate. In the amended answer…
2Cases cited6 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Reinecke v. Northern Trust Co.Supreme Court of the United States · 1929
- Chase National Bank v. United StatesSupreme Court of the United States · 1929
- Hassett v. WelchSupreme Court of the United States · 1938
- May v. HeinerSupreme Court of the United States · 1930
1 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- Cole's Estate v. Com'r of Internal RevenueCourt of Appeals for the Eighth Circuit · 1944
- In Re Lueders'estateCourt of Appeals for the Third Circuit · 1947
- Brewer v. HassettDistrict Court, D. Massachusetts · 1943
- Estate of Oliver v. CommissionerUnited States Tax Court · 1944
- Orvis v. HigginsDistrict Court, S.D. New York · 1948
8 more not listed; retrieve them via the Exa API.