Commissioner of Internal Revenue v. Mott

MOORMAN, Circuit Judge.

In 1929 the taxpayer established three irrevocable trusts with himself as trustee, one for each of his three children. Each of the instruments provides that the trustee shall manage, control, and administer the trust property, with power to sell it and reinvest the proceeds for the benefit of the beneficiary. In each he is authorized to use the income for the support and education of the beneficiary or to pay it to the beneficiary in monthly installments until he or she shall arrive at the age of 25 years, at which time one-fourth of the principal shall be paid; at 30…