Foster v. Commissioner
United States Board of Tax Appeals
Held, that the trust here involved was not intended to take effect in possession or enjoyment at or after decedent's death, within the purview of section 302(c) of the Revenue Act of 1926, and that the respondent erred in including in the decedent's gross estate the value of the corpus of the trust, less the estimated present value of the remainder interest of an educational institution that was to receive the trust property upon the termination of the trust.
1Opinion of the Court
*712OPINION.
Smith :
On brief, the respondent states his contention as follows:
It is the contention of the Commissioner that the transfer to- the decedent’s issue was one intended to take effect in possession or enjoyment at or after the decedent’s death within the meaning of Section 302 (c) and that the value of the entire property is subject to tax with the exception of the remainder interest therein deductible under Section 303 (a) (3) as a bequest to charity.
On brief, the respondent discusses generally the common law relative to contingent remainders, and treats the question before us as though…
2Cases cited9 opinions
- Gould v. GouldSupreme Court of the United States · 1917
- Reinecke v. Northern Trust Co.Supreme Court of the United States · 1929
- Tyler v. United StatesSupreme Court of the United States · 1930
- May v. HeinerSupreme Court of the United States · 1930
- United States v. FieldSupreme Court of the United States · 1921
4 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Helmholz v. CommissionerUnited States Board of Tax Appeals · 1933
- Bridgeport City Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1940
- Foster v. CommissionerUnited States Board of Tax Appeals · 1932
- Helmholz v. CommissionerUnited States Board of Tax Appeals · 1933
- Kienbusch v. CommissionerUnited States Board of Tax Appeals · 1936
2 more not listed; retrieve them via the Exa API.