Estate of Craft v. Commissioner
United States Tax Court
Decedent transferred property in trust and retained, as grantor, the power to add new beneficiaries and to change the respective beneficial interests therein.
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Decedent transferred property in trust and retained, as grantor, the power to add new beneficiaries and to change the respective beneficial interests therein. Under the terms of decedent's will, the executor was to receive a fee of $ 5,000. After decedent's death, the executor's duties regarding the administration of the estate became quite substantial and time consuming, and he petitioned the Probate Court for, and later received, a fee of $ 63,722.66 in lieu of the $ 5,000 provided for in the will. Held, use of the parol evidence rule examined and such rule considered as a rule of…
1Opinion of the Court
Estate of James E. Craft, Thomas J. Craft, Executor, Petitioner v. Commissioner of Internal Revenue, Respondent
Estate of Craft v. Commissioner
Docket No. 778-74
United States Tax Court
68 T.C. 249; 1977 U.S. Tax Ct. LEXIS 106;
May 24, 1977, Filed
Decision will be entered under Rule 155.
Decedent transferred property in trust and retained, as grantor, the power to add new beneficiaries and to change the respective beneficial interests therein. Under the terms of decedent's will, the executor was to receive a fee of $ 5,000. After decedent's death, the executor's duties regarding the administration…
Also in this document: Concurrence.
2Cases cited54 opinions
- Commissioner v. Estate of BoschSupreme Court of the United States · 1967
- Blair v. CommissionerSupreme Court of the United States · 1937
- Morgan v. CommissionerSupreme Court of the United States · 1940
- Helvering v. StuartSupreme Court of the United States · 1942
- Commissioner v. LesterSupreme Court of the United States · 1961
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