Newberry v. Commissioner
United States Tax Court
Decedent and her husband created reciprocal trusts. After amendment there remained in each, at the time of her death, the right to change the trust beneficiaries. The trusts further provided that trust income was to be accumulated for the benefit of the two children of decedent and husband, until attainment by the child of the age of 30 years.
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Decedent and her husband created reciprocal trusts. After amendment there remained in each, at the time of her death, the right to change the trust beneficiaries. The trusts further provided that trust income was to be accumulated for the benefit of the two children of decedent and husband, until attainment by the child of the age of 30 years. Held, the decedent's power, at date of death, to change beneficiaries requires inclusion of the trust corpus and accumulated income in her gross estate under section 811 (d) (2), Internal Revenue Code.
1Opinion of the Court
Estate of Myrtle H. Newberry, Deceased, John J. Newberry, Jr., Edgar A. Newberry, Walter C. Schulz and John J. Newberry, Executors, Petitioners, v. Commissioner of Internal Revenue, Respondent. John J. Newberry Trust No. 1, John J. Newberry Trust No. 2, John J. Newberry Trust No. 3 and John J. Newberry Trust No. 4, Walter C. Baker and Thomas L. Zimmerman, Trustees, Petitioners, v. Commissioner of Internal Revenue, Respondent
Newberry v. Commissioner
Docket Nos. 19480, 20519
United States Tax Court
17 T.C. 597; 1951 U.S. Tax Ct. LEXIS 68;
October 5, 1951, Promulgated
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2Cases cited18 opinions
- Porter v. CommissionerSupreme Court of the United States · 1933
- Orvis v. HigginsCourt of Appeals for the Second Circuit · 1950
- Lehman v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1940
- Cole's Estate v. Com'r of Internal RevenueCourt of Appeals for the Eighth Circuit · 1944
- Keefe v. CommissionerUnited States Tax Court · 1950
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