Carleton v. Commissioner
United States Board of Tax Appeals
Where decedent during his lifetime took out certain insurance policies on his own life, payable to a trustee without naming the beneficiary, the attempted trust failed for failure to name a beneficiary certain in the declaration of trust.
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Where decedent during his lifetime took out certain insurance policies on his own life, payable to a trustee without naming the beneficiary, the attempted trust failed for failure to name a beneficiary certain in the declaration of trust. Where express trust which insured attempted to create by making life policies payable to a trustee fails because of want of a named beneficiary, a resulting trust arises in favor of donor, and the proceeds of such insurance policies are includable as a part of decedent's gross estate under the first clause of section 302(g), Revenue Act of 1926, as amended,…
1Opinion of the Court
ESTATE OF WILLARD T. CARLETON, BOSTON SAFE DEPOSIT AND TRUST COMPANY, EXECUTOR, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Carleton v. Commissioner
Docket No. 82787.
United States Board of Tax Appeals
37 B.T.A. 66; 1938 BTA LEXIS 1087;
January 14, 1938, Promulgated
Where decedent during his lifetime took out certain insurance policies on his own life, payable to a trustee without naming the beneficiary, the attempted trust failed for failure to name a beneficiary certain in the declaration of trust. Where express trust which insured attempted to create by making life policies…
2Cases cited2 opinions
- Morton v. CommissionerUnited States Board of Tax Appeals · 1931
- Carleton v. CommissionerUnited States Board of Tax Appeals · 1938