Glosser Trust

Opinion bt

Me. Justice Horace Stern,

Were the assets of a certain trust which was created by decedent in his lifetime subject at his death to the transfer inheritance tax? The court below held that they were not so taxable, and the Commonwealth appeals.

On May 1,1939, Saul Glosser, decedent, and his wife, Eva Glosser, executed an irrevocable declaration of trust. 1 It recited that they “are in possession of and have set aside for and on behalf and for the benefit of the beneficiaries” a fund of $125,000 to be “used and invested by the trustees for and on behalf of the beneficiaries.” Glosser…