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Fidelity-Philadelphia Trust Co. v. Rothensies, 324 U.S. 108 (1945)
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General SummaryThis case is from a collection containing the full text of over 16,000 Supreme Court cases from 1793 to the present. The body of Supreme Court decisions are, effectively, the final interpretation of the Constitution. Only an amendment to the Constitution can permanently overturn an interpretation and this has happened only four times in American history.
Fidelity-Philadelphia Trust Co. v. Rothensies, 324 U.S. 108 (1945)
Fidelity-Philadelphia Trust Co. v. Rothensies No. 263 Argued January 4, 5, 1945 Decided February 5, 1945 324 U.S. 108
CERTIORARI TO THE CIRCUIT COURT OF APPEALS
FOR THE THIRD CIRCUIT
Syllabus
Decedent made a transfer of property in trust to pay the income to herself for life, thence to her two daughters, with remainders to the daughters’ surviving descendants, but if both daughters should die without descendants surviving, the corpus was to go to such persons as the decedent should appoint by will. Decedent exercised the power of appointment by will and predeceased the daughters.
Held:
1. The transfer was "intended to take effect in possession or enjoyment at or after (decedent’s) death," within the meaning of § 302(c) of the Revenue Act of 1926. P. 110.
2. The value at the date of the death of the decedent of the entire corpus of the trust was includible in the gross estate of the decedent for the purpose of the estate tax under the 1926 Act. P. 111.
Under § 302(c), the taxable gross estate must include those property interests the ultimate possession and enjoyment of which is held in suspense until the moment of the grantor’s death or thereafter.
3. There was no basis for deduction from the decedent’s gross estate of the values of the estates of the daughters or their descendants. P. 112.
142 F.2d 838 affirmed.
Certiorari, 323 U.S. 693, to review the affirmance of a judgment denying recovery in a suit for refund of federal estate taxes.
Contents:
Chicago: U.S. Supreme Court, "Syllabus," Fidelity-Philadelphia Trust Co. v. Rothensies, 324 U.S. 108 (1945) in 324 U.S. 108 324 U.S. 109. Original Sources, accessed November 22, 2024, http://originalsources.com/Document.aspx?DocID=E9BLMBBQHVGSF3N.
MLA: U.S. Supreme Court. "Syllabus." Fidelity-Philadelphia Trust Co. v. Rothensies, 324 U.S. 108 (1945), in 324 U.S. 108, page 324 U.S. 109. Original Sources. 22 Nov. 2024. http://originalsources.com/Document.aspx?DocID=E9BLMBBQHVGSF3N.
Harvard: U.S. Supreme Court, 'Syllabus' in Fidelity-Philadelphia Trust Co. v. Rothensies, 324 U.S. 108 (1945). cited in 1945, 324 U.S. 108, pp.324 U.S. 109. Original Sources, retrieved 22 November 2024, from http://originalsources.com/Document.aspx?DocID=E9BLMBBQHVGSF3N.
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