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ALBRIGHT v. UNITED STATES

No. 19243.

308 F.2d 739 (1962)

E. Roy ALBRIGHT, Appellant, v. UNITED STATES of America, Appellee.

United States Court of Appeals Fifth Circuit.

September 25, 1962.

Attorney(s) appearing for the Case

John W. McConnell, Jr., Armbrecht, Jackson, McConnell & DeMouy, Mobile, Ala., for appellant.

Vernol R. Jansen, Jr., U. S. Atty., Mobile, Ala., John B. Jones, Jr., Acting Asst. Atty., Lee A. Jackson, Donald P. Horwitz, Robert N. Anderson, Attys., Dept. of Justice, Washington, D. C., for appellee.

Before RIVES, BROWN and WISDOM, Circuit Judges.

RIVES, Circuit Judge.

Construing an inter vivos trust agreement, the district court held1 that the trustee had discretion to withhold income from the settlor's four minor granddaughters so that the gifts of income were gifts of future interests in property not entitled to gift tax exclusions under Section 2503(b) of the Internal Revenue Code of 1954.2

The controversy is confined to the gifts of income...

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