Stuart v. Commissioner
United States Tax Court
In 1930 petitioner executed three indentures by which he created three trusts, one for the benefit of each of his three children. During the taxable years the children were of age. Under the indentures the trustees were to pay to the children for the first fifteen years so much of the income as they deemed advisable, and thereafter the children were to receive the entire net income of the trusts during their respective lives.
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In 1930 petitioner executed three indentures by which he created three trusts, one for the benefit of each of his three children. During the taxable years the children were of age. Under the indentures the trustees were to pay to the children for the first fifteen years so much of the income as they deemed advisable, and thereafter the children were to receive the entire net income of the trusts during their respective lives. Petitioner reserved the right to sell the trust corpora and to direct the reinvestment of the proceeds, together with the right to withdraw the corpora upon substitution…
1Opinion of the Court
OPINION.
HaReon, Judge:
In the findings of fact new findings have been made in part because á further hearing was held in this proceeding after remand from the Circuit Court of Appeals for the Seventh Circuit. At the further hearing, a supplemental stipulation of facts was introduced in evidence, together with additional testimony. The findings of fact as now made incorporate substantially the facts as originally found, together with additional facts.
Originally, this case was heard with a companion case, R. Douglas Stuart, Docket No. 97501. We held in both proceedings that petitioners were…
2Cases cited2 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Helvering v. StuartSupreme Court of the United States · 1942
3Cited by18 opinions
- Hall v. CommissionerCourt of Appeals for the Tenth Circuit · 1945
- Wheelock v. CommissionerUnited States Tax Court · 1946
- Cushman v. CommissionerUnited States Tax Court · 1944
- Abraham v. CommissionerUnited States Tax Court · 1944
- Booth v. CommissionerUnited States Tax Court · 1944
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