Estate of Gilman v. Commissioner
United States Tax Court
In 1948, decedent owned 60 percent of the common stock and a substantial block of the preferred stock of a corporation. In that year he transferred the common stock to a trust of which he was one of three trustees.
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In 1948, decedent owned 60 percent of the common stock and a substantial block of the preferred stock of a corporation. In that year he transferred the common stock to a trust of which he was one of three trustees. He continued to serve as a trustee of that trust and as a director and chief executive officer of the corporation until he died in 1967. Held, decedent did not retain the enjoyment of the entrusted stock or the right to designate the person or persons who would enjoy the stock or the income therefrom within the meaning of sec. 2036(a)(1) or 2036(a)(2), I.R.C. 1954.
1Opinion of the Court
Estate of Charles Gilman, Deceased, Howard Gilman, Charles Gilman, Jr., and Sylvia P. Gilman, Executors, Petitioners v. Commissioner of Internal Revenue, Respondent
Estate of Gilman v. Commissioner
Docket No. 2730-72
United States Tax Court
65 T.C. 296; 1975 U.S. Tax Ct. LEXIS 37;
November 10, 1975, Filed
Decision will be entered for the petitioners.
In 1948, decedent owned 60 percent of the common stock and a substantial block of the preferred stock of a corporation. In that year he transferred the common stock to a trust of which he was one of three trustees. He continued to serve as a trustee of…
Also in this document: Concurrence; Dissent · Raum; Dissent · Tannenwald.
2Cases cited38 opinions
- Commissioner v. Estate of ChurchSupreme Court of the United States · 1949
- United States v. ByrumSupreme Court of the United States · 1972
- Estate of Spiegel v. CommissionerSupreme Court of the United States · 1949
- Commissioner v. Estate of HolmesSupreme Court of the United States · 1946
- United States v. Estate of GraceSupreme Court of the United States · 1969
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