Coolidge v. Commissioner of Corp. & Taxation

Rugg, C. J..

These are petitions brought, under G. L. c. 65, § 30, to determine the validity of succession taxes. The petitioners are trustees under a deed and declaration of trust executed on July 29,1907, by J. Randolph Coolidge and Julia Coolidge and the petitioners. By that deed a large amount of real and personal estate was transferred to the trustees by the settlors voluntarily and not as a bona fide purchase for full consideration in money or in money’s worth. The trustees were given extensive powers of management, investment and reinvestment with the right to determine *446finally what…