¶1dissenting: I am of the opinion that the powers retained by the trustors by article IX of the trust indenture and specifically embracing the power to modify the provisions of article VI make this case more analogous to Stanley J. Klein, 4 T. C. 1195; affd., 154 Fed. (2d) 58, than to Lady Marian Bateman, 43 B. T. A. 69; affd., 127 Fed. (2d) 266; and, therefore, I respectfully dissent from the conclusion of the majority.
12 T.C. 817
Goodan v. Commissioner
Decided May 23, 1949
United States Tax Court · decided 1949-05-23
In 1935 8 individuals transferred individually owned stock in two corporations in trust and directed the trustees to pay their pro rata share of trust income to themselves for life,… Held: the trust created herein was a valid trust under the laws of California, following Bixby v. California Trust Co., 190 Pac. (2d) 521, and Gray v. Union Trust Co., 154 Pac. 306; Held, further, sections 22 (a), 166, and 167, supra, are inapplicable, following Commissioner v. Bateman, 127 Fed.
Cited by 6 later decisions — most recently October 1981
2 federal appellate ·
Relies on Bateman v. Commissioner · Klein v. Commissioner
Good law ✅— No negative treatment on recordhow we know
Decided 1949-05-23
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