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COMMISSIONER OF INT. REV. v. CHASE MANHATTAN BANK

No. 16488.

259 F.2d 231 (1958)

COMMISSIONER OF INTERNAL REVENUE, Petitioner, v. The CHASE MANHATTAN BANK, Successor of The Chase National Bank of The City of New York, Trustee and Alleged Transferee of Marie Elizabeth Moran, Respondent. The CHASE MANHATTAN BANK, Successor of The Chase National Bank of The City of New York, Trustee and Alleged Transferee of Marie Elizabeth Moran, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Fifth Circuit.

Rehearing Denied October 23, 1958.

Attorney(s) appearing for the Case

L. W. Post, Ellis N. Slack, Attys., Dept. of Justice, Washington, D. C., Herman T. Reiling, Asst. Chief Counsel, Charles O. Johnson, Sp. Atty., Internal Revenue Service, Washington, D. C., Charles K. Rice, Lee A. Jackson, Asst. Attys. Gen., for petitioner.

C. W. Wellen, Whitfield H. Marshall, M. S. McCorquodale, Fulbright, Crooker, Freeman, Bates & Jaworski, Charles W. Hall, Houston, Tex., for taxpayer, The Chase Manhattan Bank.

Before CAMERON, JONES, and WISDOM, Circuit Judges.

WISDOM, Circuit Judge.

This case turns on the community property law of Texas.1 Stated broadly, the question before us is the gift tax effects of trusts and insurance in a community property state where the wife has a present, vested ownership of half the marital community in her own right.

The proceedings are brought to this Court by a petition and a cross-petition for review of a Tax Court decision concerning the transferee liability...

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