-30-
allowed under the test in Perkins v. Commissioner, 27 T.C. 601
(1956), or the "right to enjoy" test in Gilmore v. Commissioner,
213 F.2d 520 (6th Cir. 1954), revg. 20 T.C. 579 (1953). Crummey
v. Commissioner, supra at 88. The Court of Appeals interpreted
Perkins to hold that all that is necessary is to find that the
demand could not be "legally resisted." Id.
The Notice Issue
The Weinstock Trusts require that whenever any transfer of
property is made to the trusts, the trustee shall give written
notice to the beneficiary of his or her withdrawal rights.
However, neither Jack nor Lewis ever gave the adult
beneficiaries, or the parents of the minor beneficiaries, written
notice. The trustees' failure to comply with this trust
provision, however, does not require a finding that the
beneficiaries did not have present interests in the gifts.
The sufficiency of the notice given the beneficiaries is a
factor in the likelihood that the right of withdrawal will be
exercised; it is not a factor in the legal right to demand
payment from the trustee. Crummey v. Commissioner, 397 F.2d at
88; Estate of Cristofani v. Commissioner, supra at 80-81.
Furthermore, during the years of the transfers, the only minor
beneficiaries of the Weinstock Trusts were the children of the
trustees.16 We do not think that the failure of a trustee to
16 In general, the age of legal majority in the State of
(continued...)
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