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Articles 1 - 6 of 6
Full-Text Articles in Entire DC Network
Wills, Trusts, And Estates, Twenty-Sixth Annual Survey Of Developments In Virginia Law, J. Rodney Johnson
Wills, Trusts, And Estates, Twenty-Sixth Annual Survey Of Developments In Virginia Law, J. Rodney Johnson
Law Faculty Publications
The Virginia General Assembly continued its increased legislative activity in the area of wills, trusts, and estates during the past year by passing three major acts: Exempt Property and Allowances; Acts Barring Property Rights; and the Virginia Small Estate Act. In addition to these major bills, seven additional acts enacted by the General Assembly and four cases decided by the Supreme Court of Virginia involved issues important to both the general practitioner and the specialist in wills and trusts. This article reviews these legislative and judicial developments, with emphasis on the three most important legislative enactments.
Fiduciary's Investment Duty - The Peril Of The Prudent Man Rule, J. Rodney Johnson
Fiduciary's Investment Duty - The Peril Of The Prudent Man Rule, J. Rodney Johnson
Law Faculty Publications
The purpose of this article is ( 1) to report on the recent decision in Hoffman v. First Virginia Bank, 1 (2) to identify the several problems this decision has created for the public and for the bar, (3) to propose a statutory solution to these problems, and (4) to suggest an interim approach to these problems that drafters of wills and trusts might take while awaiting the passage of an appropriate statute.
Valuing Oil And Mineral Interests For Estate Planning Purposes, Lawrence H. Averill
Valuing Oil And Mineral Interests For Estate Planning Purposes, Lawrence H. Averill
Faculty Scholarship
In this article, the author discusses a number of factors which should be considered when valuing oil and mineral interests, with a primary emphasis on estate planning concerns. The article to a large extent focuses on the various techniques utilized in the valuation process, and in so doing, considers a number of key concepts and terms and identifies problems which commonly arise in the valuation of oil and mineral assets.
The Rule Against Perpetuities As Applied To Georgia Wills And Trusts: A Survey And Suggestions For Reform, Verner F. Chaffin
The Rule Against Perpetuities As Applied To Georgia Wills And Trusts: A Survey And Suggestions For Reform, Verner F. Chaffin
Scholarly Works
The prevalent criticism seems to be that the Rule Against Perpetuities, as presently applied, does not further the best interests of society and therefore should be changed to make it work better. To determine how well the Rule is operating, a critical examination will be made of Georgia statutory law and decisions involving its application to class gifts, private trusts, charitable gifts, commercial transactions, powers of appointment, and to various types of future interests including reverters, rights of entry, and executory interests. This Article will also explore techniques for avoiding the lethal effect of the Rule through draftsmanship, judicial construction, …
Reformation Of Wills On The Ground Of Mistake: Change Of Direction In American Law?, John H. Langbein, Lawrence W. Waggoner
Reformation Of Wills On The Ground Of Mistake: Change Of Direction In American Law?, John H. Langbein, Lawrence W. Waggoner
Articles
Although it has been "axiomatic" that our courts do not entertain suits to reform wills on the ground of mistake, appellate courts in California, New Jersey, and New York have decided cases within the last five years that may presage the abandonment of the ancient "no-reformation" rule. The new cases do not purport to make this fundamental doctrinal change, although the California Court of Appeal in Estate of Taff and the New Jersey Supreme Court in Engle v. Siegel did expressly disclaim a related rule, sometimes called the "plain meaning" rule. That rule, which hereafter we will call the "no-extrinsic-evidence …
Closely Held Stocks—Deferral And Financing Of Estate Tax Costs Through Sections 303 And 6166, Douglas A. Kahn
Closely Held Stocks—Deferral And Financing Of Estate Tax Costs Through Sections 303 And 6166, Douglas A. Kahn
Articles
The enactment of the Economic Recovery Tax Act of 1981 (hereinafter referred to as "the 1981 Act") will reduce both the impact of federal wealth transfer taxes and the number of persons still subject to them. Nevertheless, even after the 1981 Act takes full effect, a category of persons remains for whom wealth transfer taxes will constitute a meaningful burden and whose estates face a liquidity problem in satisfying the estate tax liability. The focus of this article is on two statutory techniques: redemptions of stock pursuant to section 3031 and deferral of estate tax payments under section 6166.2 These …