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ESTATE OF WOOD v. COMMISSIONER

Docket No. 89846.

39 T.C. 919 (1963)

ESTATE OF MARY COTTON WOOD, MORGAN GUARANTY TRUST COMPANY OF NEW YORK (FORMERLY GUARANTY TRUST COMPANY OF NEW YORK), EXECUTOR, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed March 19, 1963.

Attorney(s) appearing for the Case

Frank H. Detweiler, Esq., for the petitioner.

Philip Shurman, Esq., and Lionel Savadove, Esq., for the respondent.

The Commissioner determined a $32,827.07 deficiency in estate tax in respect of the estate of Mary Cotton Wood. The only remaining issue relates to the disallowance of a deduction for charitable gifts of remainder interests in a testamentary trust where the trustee was authorized to pay to the income beneficiary so much of the principal as the trustee should "in its absolute discretion deem necessary or advisable in order to provide for the support, maintenance, welfare and...

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