Supreme Court of the United States
Henslee v. Union Planters National Bank & Trust Co.
January 3, 1949335 U.S. 595
Summary
The Supreme Court reversed the Sixth Circuit, holding that the charitable deduction claimed by the estate’s executors was not allowable because the charitable interest was not presently ascertainable due to the trustees’ unfettered discretion to invade the corpus for the testator’s mother. The Court affirmed the dismissal of the refund suit.
Holding
- Whether a charitable deduction is allowable when a trust grants trustees discretion to invade the corpus for a private beneficiary, rendering the charitable interest not presently ascertainable under Treasury Regulation 105 § 81.44.. No deduction is allowed because the charitable interest is not presently ascertainable; the refund suit is dismissed.
Docket 90
Cited authorities
- 26 U.S.C. § 812
- 53 Stat. 124
- 56 Stat. 949
- 58 Stat. 74
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