CIM Trust - Page 4
Legal Research Home >
US Tax Court > 2001 > CIM Trust - Page 4
- 4 -
beneficiary, while serving as trustee, had the power to appoint
cotrustees and successor trustees.
The trust was initially funded with $1 from Kimmey and a
check from Kimmey, dated October 1, 1996, for $1,000 that was
later deposited into the trust bank account. The trust agreement
provided that any other person could add property acceptable to
Charlotte Morrow operated the pest control business under
the assumed name “I.D.F. Pest Control Co.” until December 13,
1996, when she filed an Assumed Business Name Certificate,
stating that the trust would be conducting business under the
name “I.D.F. Pest Control Co.”.
The operations of the pest control business did not change
after the business was transferred to the trust. As trustee,
Charlotte Morrow performed the same duties for I.D.F. Pest
Control Co. that she performed before the creation of the trust.
I.D.F. Pest Control Co. also used the same service contracts and
Peter Morrow worked for I.D.F. Pest Control Co. as an
employee both before and after the establishment of the trust.
After the establishment of the trust, Peter Morrow, individually,
and Charlotte Morrow, as trustee, entered into a signed
Employment Contract dated October 1, 1996. In that contract,
Peter Morrow agreed to provide his services as a pest control
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 Next
Last modified: May 25, 2011