Estate of Cox v. Commissioner
United States Tax Court
The will provided that the trustee shall have the "sole and exclusive right of management" of the trust property. It also provided that "if her income from my estate and from other sources shall be insufficient to comfortably and adequately supply Mary Joyce Cox with all comforts and necessities, then the same must be provided for by sale by my trustee." Held, under Texas law, Mary Joyce Cox did not hold a power of invasion or appointment with respect to the trust corpus.
1Opinion of the Court
Simpson, Judge:
The respondent determined a deficiency of $83,436.84 in the Federal estate tax of the Estate of Mary Joyce Cox. Several of the issues have been settled, and the only issue remaining is whether Mary Joyce Cox died holding, within the meaning of section 2041 of the Internal Revenue Code of 1954,1 a general power of appointment over the corpus of a testamentary trust.
FINDINGS OF FACT
Some of the facts were stipulated, and those facts are so found.
The petitioner, Joyce Cox, is the independent executor of the Estate of Mary Joyce Cox and maintained his residence in Houston, Tex., at…
2Cases cited8 opinions
- Morgan v. CommissionerSupreme Court of the United States · 1940
- Huffman v. HuffmanTexas Supreme Court · 1960
- Hunt v. WhiteTexas Supreme Court · 1859
- Schelb v. SparenbergTexas Supreme Court · 1939
- Haupt v. MichaelisTexas Commission of Appeals · 1921
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3Cited by6 opinions
- Estate of Craft v. CommissionerUnited States Tax Court · 1977
- Estate of Gilchrist v. CommissionerUnited States Tax Court · 1977
- ESTATE OF O'BRIEN v. COMMISSIONERUnited States Tax Court · 1978
- Estate of Cox v. CommissionerUnited States Tax Court · 1973
- Estate of Craft v. CommissionerUnited States Tax Court · 1977
1 more not listed; retrieve them via the Exa API.