Peterson Marital Trust v. Commissioner
United States Tax Court
Upon his death in 1974, Mr. P established a testamentary marital trust for the benefit of his wife. Mrs. P was given a lifetime interest in the income of the marital trust, and a testamentary general power of appointment over the marital trust assets. To the extent Mrs. P did not exercise her power of appointment, Mr. P's will provided that the assets of the marital trust would pass to Mr. P's grandchildren.
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Upon his death in 1974, Mr. P established a testamentary marital trust for the benefit of his wife. Mrs. P was given a lifetime interest in the income of the marital trust, and a testamentary general power of appointment over the marital trust assets. To the extent Mrs. P did not exercise her power of appointment, Mr. P's will provided that the assets of the marital trust would pass to Mr. P's grandchildren. These grandchildren were the grandchildren of Mr. P by a prior marriage, and were not the grandchildren of Mrs. P. Upon her death in 1987, Mrs. P did not exercise her testamentary general…
1Opinion of the Court
E. Norman Peterson Marital Trust, Chemical Bank, Trustee, Petitioner v. Commissioner of Internal Revenue, Respondent
Peterson Marital Trust v. Commissioner
Docket No. 26044-91
United States Tax Court
102 T.C. 790; 1994 U.S. Tax Ct. LEXIS 43; 102 T.C. No. 38;
June 28, 1994, Filed
Decision will be entered under Rule 155.
Upon his death in 1974, Mr. P established a testamentary marital trust for the benefit of his wife. Mrs. P was given a lifetime interest in the income of the marital trust, and a testamentary general power of appointment over the marital trust assets. To the extent Mrs. P did not…
2Cases cited27 opinions
- Bolling v. SharpeSupreme Court of the United States · 1954
- Regan v. Taxation With Representation of WashingtonSupreme Court of the United States · 1983
- United States v. Vogel Fertilizer Co.Supreme Court of the United States · 1982
- United States v. JacobsSupreme Court of the United States · 1939
- United States v. O'MALLEYSupreme Court of the United States · 1966
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