HUBBARD'S ESTATE v. COMMISSIONER OF INTERNAL REV.

No. 16497.

250 F.2d 492 (1957)

The ESTATE of Debe W. HUBBARD, The Merchants National Bank of Mobile, Executor, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Fifth Circuit.

December 6, 1957.


Attorney(s) appearing for the Case

C. A. L. Johnstone, Jr., Mobile, Ala., McCervey, Turner, Rogers, Johnstone & Adams, Mobile, Ala., of counsel, for petitioner.

Charles K. Rice., Asst. Atty. Gen., Lee A. Jackson, Atty., Washington, D. C., John N. Stull, Acting Asst. Atty. Gen., Joseph F. Goetten, Atty., Carolyn R. Just, Atty., Herman T. Reiling, Acting Chief Counsel, Int. Rev. Ser., Charles O. Johnson, Sp. Atty., Washington, D. C., Nelson P. Rose, Chief Counsel, Washington, D.C., for respondent.

Before RIVES, JONES and BROWN, Circuit Judges.


JONES, Circuit Judge.

Ashbel Hubbard and Emma Hubbard were divorced in 1919. Ashbel agreed that Emma should be paid $750 per month during her lifetime. To secure these payments he set up a trust of United States Government bonds of the face value of $100,000. The Merchants National Bank of Mobile, Alabama, was the trustee. It was provided that upon the death of Emma the bonds then in the possession of the trustee should be delivered to Ashbel, or his personal representatives...

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