Yawkey v. Commissioner
United States Tax Court
1. Discretion of trustees, of which decedent-grantor was one, held not so limited by trust provisions that it be used for "best interest" of the beneficiary as to render section 811 (c) and (d) inoperative. 2. Right to transfer principal to beneficiaries after they become 30 years of age, none of the beneficiaries having reached that age at the time of decedent's death, held not a power in decedent to alter or amend within Internal Revenue Code, section 811 (d). Jennings v.…
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1. Discretion of trustees, of which decedent-grantor was one, held not so limited by trust provisions that it be used for "best interest" of the beneficiary as to render section 811 (c) and (d) inoperative. 2. Right to transfer principal to beneficiaries after they become 30 years of age, none of the beneficiaries having reached that age at the time of decedent's death, held not a power in decedent to alter or amend within Internal Revenue Code, section 811 (d). Jennings v. Smith (C. C. A., 2d Cir.), 161 Fed. (2d) 74; Estate of Milton J. Budlong, 7 T. C. 756. 3. Grantor's power as trustee to…
1Opinion of the Court
OPINION.
OppeR, Judge:
Whether any part of decedent’s inter vivos transfers is to be included in the gross estate depends, as the case is presented and as we view the issues, on the answer to three questions. Respondent proposed the inclusion of the value at decedent’s death of three trusts established by him for the benefit of his three granddaughters on two theories: First, that decedent, being a trustee, had a power alone or in conjunction with one of the two other trustees to alter, amend, or revoke the trusts, as envisaged by section 811 (d) (2), Internal Revenue Code;1 and, second, that…
2Cases cited9 opinions
- Helvering v. HallockSupreme Court of the United States · 1940
- May v. HeinerSupreme Court of the United States · 1930
- Commissioner v. Estate of ChurchSupreme Court of the United States · 1949
- Colton v. ColtonSupreme Court of the United States · 1888
- Estate of Spiegel v. CommissionerSupreme Court of the United States · 1949
4 more not listed; retrieve them via the Exa API.
3Cited by33 opinions
- United States v. O'MALLEYSupreme Court of the United States · 1966
- Old Colony Trust Company, of the Estate of John H. Cunningham v. United StatesCourt of Appeals for the First Circuit · 1970
- Wilson v. CommissionerUnited States Tax Court · 1949
- Wier v. CommissionerUnited States Tax Court · 1951
- John J. Round, Jr., Executors v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1964
28 more not listed; retrieve them via the Exa API.