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UNITED STATES v. BYRUM

No. 71-308.

408 U.S. 125 (1972)

UNITED STATES v. BYRUM, EXECUTRIX.

Supreme Court of United States.

Decided June 26, 1972.

Attorney(s) appearing for the Case

Matthew J. Zinn argued the cause for the United States. With him on the briefs were Solicitor General Griswold, Assistant Attorney General Crampton, Loring W. Post, and Donald H. Olson.

Larry H. Snyder argued the cause and filed a brief for respondent.

Simon H. Rifkind, Adrian W. DeWind, James B. Lewis, and Maurice Austin filed a brief for Gilman et al., Executors, as amici curiae urging affirmance.

MR. JUSTICE POWELL delivered the opinion of the Court.

Decedent, Milliken C. Byrum, created in 1958 an irrevocable trust to which he transferred shares of stock in three closely held corporations. Prior to transfer, he owned at least 71% of the outstanding stock of each corporation. The beneficiaries were his children or, in the event of their death before the termination of the trust, their surviving children. The trust instrument specified that there be a corporate...

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