White v. Poor

This case presents questions similar to those in Helvering v. Helmholz, ante, p. 93.

In 1919 Adelaide J. Sargent conveyed property to three trustees, who were herself, Arthur PI. Sargent (her son), and a third person not connected with the family. Contemporaneously the trustees executed a declaration of trust by the terms of which they were to pay one-half the net income to Mrs. Sargent during her life and the other half, until her death, and after that event the whole in equal shares, to such of her three children as should be living at the time of each payment, and to the appointees of any…