White v. Poor, 296 U.S. 98 (1935)

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White v. Poor

No. 36

Argued October 16, 1935
Decided November 11, 1935
296 U.S. 98

CERTIORARI TO THE CIRCUIT COURT OF APPEALS

FOR THE FIRST CIRCUIT

Syllabus

Decedent, in her lifetime, conveyed property to herself and two others as trustees upon a trust which was terminable by joint action of the three trustees but which she, herself, reserved no power to modify. She resigned as trustee, but later, upon the resignation of her successor, was reappointed under a clause of the trust instrument providing that such vacancies could be filled by the other trustees with the approval of the beneficiaries.

Held:

1. That the power thus acquired to participate in terminating the trust, not being in any sense a power reserved by her in the trust instrument, was not a power "to alter, amend or revoke," within the meaning of § 302(d), Revenue Act, 1926. P. 101.

2. If that section, enacted after the date of the transfer, were deemed applicable, it would violate the Fifth Amendment. Helvering v. Helmholz, ante p. 93. P. 102.

75 F.2d 35 affirmed.

Certiorari, 295 U.S. 726, to review a judgment affirming a judgment against the Collector in a suit to recover money exacted as part of an estate tax.