trust estate. It follows that as the owner of the immediate and unrestricted right to such income, such beneficiary was the beneficial owner of the part of the estate from which his income was derived, and his interest in such part of the estate was a present and not a future one. Cf. Commissioner v. Brandegee, supra. However, until he reached the age of twenty-five years, the trustee was to use only such portions of the income from the child's share of the estate as he deemed necessary and proper, retaining the balance until the child reached the specified age. His right to the enjoyment of the latter could not be said to be immediate, unrestricted or unqualified, hence it would fall within the Regulation definition of futureBruce Jenner will pose on the cover of Vanity Fair as a woman, reports People magazine. The former Olympian revealed in April that he is transitioning from male to female.

Famed celebrity photographer Annie Leibovitz will do the photo shoot, according to the report, and the issue will hit the stands sometime in the summer along with a print interview with Jenner. Legendary photographer Annie Leibovitz will shoot the cover.

Leibovitz has chronicled some of the world’s biggest celebrities over her 40-plus year career, including Michael Jackson, George Clooney, Queen Elizabeth II, Johnny Depp and Lady Gaga.

A recent two-part E! TV special documented how Jenner’s ex-wife Kris Jenner and daughters Kim, Khloe, Kourtney, Kendall and Kylie Kardashian grappled with the news of Jenner’s transition – in the end with love