FIDELITY TRUST CO. v. COMMISSIONER OF INTERNAL REVENUE

No. 8479.

141 F.2d 54 (1944)

FIDELITY TRUST CO. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Third Circuit.

Decided February 7, 1944.


Attorney(s) appearing for the Case

John E. Laughlin, Jr., of Pittsburgh, Pa. (Thorp, Bostwick, Reed & Armstrong, of Pittsburgh, Pa., on the brief), for petitioner.

Helen Goodner, of Washington, D. C. (Samuel O. Clark, Jr., Asst. Atty. Gen., and Sewall Key, Sp. Asst. to the Atty. Gen., on the brief), for respondent.

Before BIGGS, GOODRICH, and McLAUGHLIN, Circuit Judges.


GOODRICH, Circuit Judge.

In December, 1934, Ernest T. Weir and the Fidelity Trust Company, the petitioner, entered into an insurance trust agreement. Weir, the settlor, transferred to the petitioner, as trustee, eighteen policies of life insurance, the res of the trust. The trust agreement provided, inter alia, that upon the death of the settlor, the trustee was to collect all the money due under the policies and pay the income of the trust estate to the settlor's...

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