https://www.taxtmi.com/caselaws?id=56148 A will that specifically bequeaths identifiable properties to named trustees creates testamentary trusts that vest immediately on the testator's death, unless the bequest is expressly postponed by a condition or further act. Formal transfer is not essential where the testamentary intention is to pass the properties at death and the trustees alone hold the distribution power. On that basis, the properties had vested in the trustees and did not form part of the estate's wealth for wealth-tax purposes; the Revenue's appeals failed and exclusion of the three properties from the estate wealth was sustained. en-us Tue, 26 Dec 1995 00:00:00 +0530 Wed, 01 Dec 2010 18:43:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56148 A will that specifically bequeaths identifiable properties to named trustees creates testamentary trusts that vest immediately on the testator's death, unless the bequest is expressly postponed by a condition or further act. Formal transfer is not essential where the testamentary intention is to pass the properties at death and the trustees alone hold the distribution power. On that basis, the properties had vested in the trustees and did not form part of the estate's wealth for wealth-tax purposes; the Revenue's appeals failed and exclusion of the three properties from the estate wealth was sustained. Case-Laws Wealth-tax Tue, 26 Dec 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56148