Wiley Blount Rutledge, Commissioner of Internal Revenue v…
“ In the absence of some indication from the face of the trust or surrounding circumstances that a steady flow of some ascertaina le portion of income to the minor would be required, there is no basis for a conclusion that there is a gift of anything other than for the future. The taxpayer claiming the exclusion must assume the burden of showing that the value of what he claims is other than a future interest. ”
Wiley Blount Rutledge, Commissioner of Internal Revenue v…
“ The question must be determined whether the trusts provided for a present interest in the trust income, or some definable portion of it. The first direction of each trust is to accumulate the net income until the minor reaches twenty-one. If that were all, it would again be clear that a future interest was created by the postponement of enjoyment. A later paragraph directs the trustees, however, 'to apply * * * such income therefore as may be necessary for the education, comfort and support of the respective minors' and to accumulate the remainder. ”
Wiley Blount Rutledge, Commissioner of Internal Revenue v…
“ The Article contains a proviso that if the taxpayer's son should die before reaching forty-five, the son may appoint to his spouse for a period no longer than her life not more than one-half of the income from his share of the corpus. ”
