TAXES: Precedent Set

When Franklin Roosevelt died on April 12, 1945, was he a civilian? Or was he, as Commander in Chief of the Army & Navy, a member of the armed forces? Under the law it made a difference. If he was legally a member of the armed forces, a $1,332,588 trust fund he left for his children and grandchildren was going to get a tax refund of $340,672.

James Roosevelt, the eldest son and a trustee of the fund, joined the other members of the family in renouncing all claim to the rebate. But the other trustees (Basil O'Connor, F.D.R.'s warm...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!