Coates v. Coates

BARRETT, Commissioner.

This is a suit for a declaratory judgment by the trustees of a trust created under the will of William Waldren Coates. One of the plaintiff trustees, Beulah M. Coates, was the wife of the testator and is the life income beneficiary of the trust. The other trustee, Gordon R. Coates, and the defendants, Neligh Coates and W. W. Coates, Jr., are brothers and sons of the testator by a former marriage. In the pleadings and throughout the trial several problems were raised but the essentially meritorious question is whether certain accretions, “capital gains” from four open end…