Burney v. Commissioner
United States Tax Court
1. On February 3, 1927, decedent executed an inter vivos trust of personal property for the benefit of his five brothers and his wife, reserving "the privilege of changing the relative interests of the different beneficiaries at any time by reducing the interest of some and adding to the interests of others."
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1. On February 3, 1927, decedent executed an inter vivos trust of personal property for the benefit of his five brothers and his wife, reserving "the privilege of changing the relative interests of the different beneficiaries at any time by reducing the interest of some and adding to the interests of others." The trust instrument further provided that the trustee should "wind up and distribute the trust as speedily as possible" upon the decedent's death, and that "on the death of any of the beneficiaries the interest of the deceased shall lapse and go to the other beneficiaries in proportion…
1Opinion of the Court
OPINION.
Arundell, Judge:
The first question we must determine is whether the community one-half of the corpus of the trust created by the decedent on February 3, 1927, is includible in his estate under section 811 (d) (2) of the Internal Revenue Code.2 Expressed in terms of the statute quoted in the margin, the question is whether and to what extent the decedent had the power to alter, amend, or revoke the trust which he created on February 3, 1927, so that th© enjoyment of the interests created by the trust was subject at the date of the decedent's death to any change through the exercise of…
Also in this document: Dissent.
2Cases cited12 opinions
- Helvering v. HallockSupreme Court of the United States · 1940
- Reinecke v. Northern Trust Co.Supreme Court of the United States · 1929
- Klein v. United StatesSupreme Court of the United States · 1931
- Rae v. BakerCourt of Appeals of Texas · 1931
- First and American National Bank v. HigginsSupreme Court of Minnesota · 1940
7 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Larkin v. CommissionerUnited States Tax Court · 1949
- Bingham v. CommissionerUnited States Tax Court · 1946
- Theopold v. United StatesDistrict Court, D. Massachusetts · 1947
- Wooster v. CommissionerUnited States Tax Court · 1947
- Bingham v. CommissionerUnited States Tax Court · 1946
4 more not listed; retrieve them via the Exa API.