Laird v. Commissioner
United States Board of Tax Appeals
1. Where the decedent created a trust, the corpus of which consisted of life insurance taken out by him upon his life (designated as the Primary Trust Fund) and shares of corporate stock (designated as the Secondary Trust Fund), the net income from the secondary fund to be used to pay premiums on the life insurance policies, and, upon the further trust, after December 27, 1933, or the prior death of the trustor, to pay over the income or trust corpus to trustor's wife and…
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1. Where the decedent created a trust, the corpus of which consisted of life insurance taken out by him upon his life (designated as the Primary Trust Fund) and shares of corporate stock (designated as the Secondary Trust Fund), the net income from the secondary fund to be used to pay premiums on the life insurance policies, and, upon the further trust, after December 27, 1933, or the prior death of the trustor, to pay over the income or trust corpus to trustor's wife and children, or issue of children then living, and the trustor reserved the right to change the beneficiaries of the trust,…
1Opinion of the Court
MARY A. B. DUPONT LAIRD, WALTER J. LAIRD AND PHILIP D. LAIRD, EXECUTORS OF THE ESTATE OF WILLIAM WINDER LAIRD, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Laird v. Commissioner
Docket No. 51654.
United States Board of Tax Appeals
29 B.T.A. 196; 1933 BTA LEXIS 968;
October 31, 1933, Promulgated
1. Where the decedent created a trust, the corpus of which consisted of life insurance taken out by him upon his life (designated as the Primary Trust Fund) and shares of corporate stock (designated as the Secondary Trust Fund), the net income from the secondary fund to be used to pay…
2Cases cited1 opinion
- Laird v. CommissionerUnited States Board of Tax Appeals · 1933