Herrmann v. Commissioner
United States Tax Court
Petitioner and his wife decided to execute gifts in trust of an undivided community interest in an oil and gas lease for the benefit of their children. In the fall of 1942 they discussed the terms of the trusts with their eldest daughter, who orally accepted the trusteeship just before leaving the state.
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Petitioner and his wife decided to execute gifts in trust of an undivided community interest in an oil and gas lease for the benefit of their children. In the fall of 1942 they discussed the terms of the trusts with their eldest daughter, who orally accepted the trusteeship just before leaving the state. In December 1942 petitioner and his wife executed the trust instruments and assignments of interest and delivered them to their attorney, who mailed the assignments for recordation. The trustee returned in August 1943 and signed the trust instruments. Held, petitioner's gifts in trust were…
1Opinion of the Court
OPINION.
Arundell, Judge:
In the instant case the sole question to be determined is whether- certain gifts in trust of an undivided community interest in a Texas oil and gas lease were completed in 1942 or 1943. Petitioner does not challenge the computation of the deficiency asserted by -the respondent, if it is held herein that 1943 was the year in which the gift was consummated. There is no apparent dispute about the facts or that Texas law will determine when the title was transferred. The parties do disagree, however, as to whether the facts occurring in 1942 were legally sufficient to…
2Cases cited8 opinions
- Taylor v. Sanford, AdministratorTexas Supreme Court · 1917
- Knight v. Tannehill Bros., Inc.Court of Appeals of Texas · 1940
- Lange v. Houston Bank & Trust Co.Court of Appeals of Texas · 1946
- Russell v. BeckertCourt of Appeals of Texas · 1917
- Davies v. PeguesCourt of Appeals of Texas · 1939
3 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Herrmann v. CommissionerUnited States Tax Court · 1947