Pacific Nat'l Bank v. Commissioner

1. Where the wife of a decedent in a community property state (Washington) waives all her interest in the marital community and acquiesces in the creation by her husband of a testamentary trust disposing of all his property (with unimportant exceptions), including all community property, held, that there is no present transfer to the husband by reason of the waiver which will justify the inclusion of the wife's share of the community property in the decedent's gross estate. 2. Where the decedent by a trust indenture has subjected the proceeds, not otherwise includable in his gross estate, of…