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Taxation - Estate Tax - Inclusion In Gross Estate Of Trust Where Decedent Retained Power To Terminate, Edward P. Dwyer, Jr. S.Ed.

Michigan Law Review

In 1935 the settler irrevocably conveyed to himself as trustee in trust for his sons corporate stocks, which upon termination of the trust were to be distributed to named beneficiaries other than the settlor. The settlor reserved power during his lifetime to terminate any of the trusts and distn1mte the principal to beneficiaries then entitled to receive it. Each trust was to continue for fifteen years unless earlier terminated by the grantor. He retained no power to revest in himself or his estate any portion of the corpus or income. The Tax Court and the Circuit Court of Appeals for …