Estate of Loughridge v. Commissioner
United States Tax Court
1. Estate Tax. -- Held, that the value of the corpus of a trust of which the decedent was grantor is includible in the decedent's gross estate under section 811 (d) (2), Internal Revenue Code, where at the time of his death the decedent as donor had the power to remove the trustee and appoint himself successor trustee and in the latter capacity had the power to terminate the trust, thereby changing the beneficial interest of his minor children from one of future enjoyment to…
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1. Estate Tax. -- Held, that the value of the corpus of a trust of which the decedent was grantor is includible in the decedent's gross estate under section 811 (d) (2), Internal Revenue Code, where at the time of his death the decedent as donor had the power to remove the trustee and appoint himself successor trustee and in the latter capacity had the power to terminate the trust, thereby changing the beneficial interest of his minor children from one of future enjoyment to one of immediate ownership and enjoyment, and also to cut off contingent interests of others. 2. Respondent's…
1Opinion of the Court
OPINION.
Tyson, Judge'.
The first issue herein involves the children’s trust as last amended on December 27, 1935, and the primary question of whether the value of the entire corpus of that trust, stipulated to be in the amount of $214,572.13 at date of decedent’s death, or any portion thereof, is includible in the decedent’s gross estate. The pertinent provisions of section 811 of the Internal Kevenue Code are set out in the margin.1
In the deficiency notice respondent determined that the entire corpus of the children’s trust is includible in decedent’s gross estate under the provisions of…
2Cases cited5 opinions
- Commissioner v. Estate of HolmesSupreme Court of the United States · 1946
- Estate of Budlong v. CommissionerUnited States Tax Court · 1946
- Nettleton v. CommissionerUnited States Tax Court · 1945
- Hurd v. CommissionerUnited States Tax Court · 1946
- Estate of DuCharme v. CommissionerUnited States Tax Court · 1946
3Cited by21 opinions
- Loughridge's Estate v. Commissioner of Internal Revenue. Commissioner of Internal Revenue v. Loughridge's EstateCourt of Appeals for the Tenth Circuit · 1950
- Wilson v. CommissionerUnited States Tax Court · 1949
- Yawkey v. CommissionerUnited States Tax Court · 1949
- Estate of Kasch v. CommissionerUnited States Tax Court · 1958
- Estate of La Sala v. CommissionerUnited States Tax Court · 1979
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