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Full-Text Articles in Law
Allowing Perpetuities In North Carolina, John V. Orth
Allowing Perpetuities In North Carolina, John V. Orth
Campbell Law Review
No abstract provided.
And Now For Something Completely Different: Spendthrift, Discretionary, And Protective Trusts In North Carolina And The Federal Tax Lien, Philip Z. Brown
And Now For Something Completely Different: Spendthrift, Discretionary, And Protective Trusts In North Carolina And The Federal Tax Lien, Philip Z. Brown
Campbell Law Review
This Comment seeks to discuss the impact of the revisions made to North Carolina trust law effective January, 2006, in the context of their incongruity with the common law and the potential for favoritism toward federal tax liens over prior liens attached by state creditors (including liens for state taxes). In order to rectify the problems created by the revisions, North Carolina should either clarify the impact of these changes so as not to leave settlors, trustees, or beneficiaries with unrealistic expectations or revise the code to fill in the gaps created by the revisions.
Summary Of The North Carolina Uniform Transfers To Minors Act And The Proposed North Carolina Uniform Custodial Trust Act, Julie Zydron Griggs
Summary Of The North Carolina Uniform Transfers To Minors Act And The Proposed North Carolina Uniform Custodial Trust Act, Julie Zydron Griggs
Campbell Law Review
In the century since its organization in 1892, the National Conference of Commissioners on Uniform State Laws (the "Conference") has drafted and recommended laws for voluntary adoption in all states on many subjects in which uniformity is both desirable and practicable. Because of the increasing mobility of individuals, uniformity in the laws relating to the transfer of wealth is particularly important, and the Conference has embraced the laws of estates and probate for the promulgation of various uniform acts. This Article will highlight a pair of such uniform acts, one enacted in North Carolina and one proposed for enactment in …
The Uniform Probate Code's "Augmented Estate" Concept: A Remedy For The North Carolina Dissent Statute, Charles H. Munn Jr.
The Uniform Probate Code's "Augmented Estate" Concept: A Remedy For The North Carolina Dissent Statute, Charles H. Munn Jr.
Campbell Law Review
This Comment will show that state statutes are not always effective. This Comment (1) discusses North Carolina's dissent statute, (2) shows the possible unfairness the North Carolina dissent statute may cause, and (3) argues why the Uniform Probate Code's "augmented estate" concept should be incorporated in North Carolina's dissent statute.
The North Carolina Dissent Statutes: The Seeds Of Inequities Germinate, Anne Mayo Evans
The North Carolina Dissent Statutes: The Seeds Of Inequities Germinate, Anne Mayo Evans
Campbell Law Review
This commentary focuses on three of the inequities which result from the present scheme: (1) the discriminatory treatment of a second or successive spouse, (2) the possibility that a surviving spouse may receive a windfall beyond the designated statutory share, and (3) the "loophole" which readily allows disinheritance of the surviving spouse.
Estate Planning Considerations For The North Carolina Principal And Income Act Of 1973, James W. Narron
Estate Planning Considerations For The North Carolina Principal And Income Act Of 1973, James W. Narron
Campbell Law Review
Unless the governing instrument makes another provision, the Act applies to regulate the allocation of income and expense between the income and principal interests of a trust or estate. Accordingly, draftsmen who do not expressly exempt the fiduciary from the provisions of the Act or simply give the fiduciary standard North Carolina powers by incorporating by reference the provisions of N.C. Gen. Stat. § 32-27 are directing by default that the provisions of the Act apply to govern the allocation made by the fiduciary. This article will explore some of the consequences of each choice and will provide a framework …
Interest-Free Demand Loans Now Subject To Gift Tax - Dickman V. Commissioner, William T. Sharpe
Interest-Free Demand Loans Now Subject To Gift Tax - Dickman V. Commissioner, William T. Sharpe
Campbell Law Review
One day, Mr. Jones walks into your office and tells you that he wants to help junior start his own business, but he does not want to incur any gift tax. "No problem," you say, and you proceed to tell him about the advantages of an interest-free demand loan to junior. You tell him that based on Johnson v. United States and Crown v. Commissioner, an interest-free demand loan will not result in a taxable gift. So junior can get the money to start his new business, Mr. Jones can transfer some of his wealth without adverse gift tax …