Champlin v. Commissioner
United States Tax Court
1. In 1928 decedent created a trust under the terms of which the X trust company, as trustee, was empowered to pay over to decedent or his wife during their lifetimes such portion of the principal of the fund as the trustee in its sole discretion should deem necessary for decedent's or his wife's comfort, maintenance, or benefit in such amount as should not be inconsistent with suitable provision for them during the balance of the term of their probable lives.
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1. In 1928 decedent created a trust under the terms of which the X trust company, as trustee, was empowered to pay over to decedent or his wife during their lifetimes such portion of the principal of the fund as the trustee in its sole discretion should deem necessary for decedent's or his wife's comfort, maintenance, or benefit in such amount as should not be inconsistent with suitable provision for them during the balance of the term of their probable lives. At decedent's death none of the principal of the fund had been used for that purpose. Held, the value of the trust is includible in…
1Opinion of the Court
OPINION.
Aettndell, Judge:
Since the date of the trust indenture antedates the Joint Resolution of March 3, 1931, the fact that the decedent retained the income of the trust for his life is immaterial. Hassett v. Welch, 303 U. S. 303. This the respondent concedes. The question is addressed solely to whether or not the corpus of the trhst is includible in the decedent’s gross estate by reason of the fact that the trust instru-jment provided that the corpus might be invaded by the trustee for the )enefit of the settlor and, hence, that it could not be determined until ifter his death whether any…
2Cases cited7 opinions
- Helvering v. HallockSupreme Court of the United States · 1940
- Hassett v. WelchSupreme Court of the United States · 1938
- Helvering v. St. Louis Union Trust Co.Supreme Court of the United States · 1935
- Becker v. St. Louis Union Trust Co.Supreme Court of the United States · 1935
- Rosenwasser v. CommissionerUnited States Tax Court · 1945
2 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Champlin v. CommissionerUnited States Tax Court · 1946