Lambert Tree Trust Estate v. Commissioner
United States Tax Court
Trust-petitioner is a trust created under the residuary clause of the will of Lambert Tree, who died in 1910. Under said clause stated percentages of "net income" are to be retained in the trust in an Improvement Fund. Apart from this retention, the "net income" is payable to individual husband-petitioner (Ronald) for life (after a small annuity to a third party). The trust is to terminate on Ronald's death.
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Trust-petitioner is a trust created under the residuary clause of the will of Lambert Tree, who died in 1910. Under said clause stated percentages of "net income" are to be retained in the trust in an Improvement Fund. Apart from this retention, the "net income" is payable to individual husband-petitioner (Ronald) for life (after a small annuity to a third party). The trust is to terminate on Ronald's death. At termination one-half of the trust estate (at its then size) goes to a charitable organization contributions to which are deductible under section 170, I.R.C. 1954. The other one-half…
1Opinion of the Court
Lambert Tree Trust Estate, Continental Illinois National Bank and Trust Company of Chicago and Ronald Lambert Tree, Cotrustees, et al., 1 Petitioners, v. Commissioner of Internal Revenue, Respondent
Lambert Tree Trust Estate v. Commissioner
Docket Nos. 76550, 76551, 79756, 79757
United States Tax Court
38 T.C. 392; 1962 U.S. Tax Ct. LEXIS 120;
June 25, 1962, Filed
Decisions will be entered under Rule 50.
Trust-petitioner is a trust created under the residuary clause of the will of Lambert Tree, who died in 1910. Under said clause stated percentages of "net income" are to be retained in the trust in…
2Cases cited32 opinions
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- Helvering v. HallockSupreme Court of the United States · 1940
- Freuler v. HelveringSupreme Court of the United States · 1934
- Tait v. Western Maryland Railway Co.Supreme Court of the United States · 1933
- John Kelley Co. v. CommissionerSupreme Court of the United States · 1946
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