STEWARD v. COMMISSIONER OF CORPORATIONS & TAXATION


348 Mass. 15 (1964)

200 N.E.2d 460

GILBERT L. STEWARD & others, trustees, vs. COMMISSIONER OF CORPORATIONS AND TAXATION.

Supreme Judicial Court of Massachusetts, Essex.

July 17, 1964.


Attorney(s) appearing for the Case

Roy M. Robinson (Roger M. Thomas with him) for the petitioners.

Herbert E. Tucker, Jr., Assistant Attorney General, for the respondent.

Present: WILKINS, C.J., SPALDING, WHITTEMORE, CUTTER, KIRK, SPIEGEL, & REARDON, JJ.


SPIEGEL, J.

This is a petition under G.L.c. 65, § 30, by the trustees of an inter vivos trust established by the late Charles F. Ayer (the settlor). There is a statement of agreed facts. A judge of the Probate Court reserved and reported the case.

In 1928 the settlor by a declaration of trust named himself and one William E. Faulkner as trustees of certain property which was to be held for the benefit of the settlor's two children and their issue. The...

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