Gallois v. Commissioner
United States Tax Court
Where decedent created a trust naming herself as one of three trustees, reserving a life estate in the income and providing that in case of any deficiency in such income, the trustees should apply to her maintenance and support any part of the trust corpus which, in their opinion, might be necessary for such purpose, held, the value of the trust corpus is includible in the decedent's gross estate under section 811 (c), I. R. C., as a transfer intended to take effect in…
Read the full summary
Where decedent created a trust naming herself as one of three trustees, reserving a life estate in the income and providing that in case of any deficiency in such income, the trustees should apply to her maintenance and support any part of the trust corpus which, in their opinion, might be necessary for such purpose, held, the value of the trust corpus is includible in the decedent's gross estate under section 811 (c), I. R. C., as a transfer intended to take effect in possession or enjoyment at or after death. Blunt v. Kelly, 131 Fed. (2d) 632, followed.
1Opinion of the Court
OPINION.
Van Fossan, Judge:
The issue for our determination is whether or not the corpus of the trust created by the decedent on August 9,1924, is includible in her gross estate under the provisions of section 811 (c) of the Internal Revenue Code. The section is set forth in the margin.1
The petitioners contend that no part of the trust is includible in the decedent’s gross estate under section 811 (c), but that it is squarely within the provisions of that section excepting “a bona fide sale for an adequate and full consideration in money or money’s worth.” They premise their argument on the…
2Cases cited4 opinions
- Hassett v. WelchSupreme Court of the United States · 1938
- May v. HeinerSupreme Court of the United States · 1930
- Bradley v. CommissionerUnited States Tax Court · 1943
- Booth v. HoskinsCalifornia Supreme Court · 1888
3Cited by18 opinions
- Toeller v. CommissionerUnited States Tax Court · 1946
- Rosenwasser v. CommissionerUnited States Tax Court · 1945
- Coulter v. CommissionerUnited States Tax Court · 1946
- Moreno v. CommissionerUnited States Tax Court · 1957
- Cochran v. CommissionerUnited States Tax Court · 1947
13 more not listed; retrieve them via the Exa API.