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Full-Text Articles in Law
Nonestate Planning, Thomas F. Shaffer
Nonestate Planning, Thomas F. Shaffer
Journal Articles
This article proposes and explains a will form for the young and promising, but presently impecunious, Calvin Knox. He is called a "junior executive" by appliance dealers, and his property is called an "estate" by his flatterers. He is really a middle-class, white-collar worker; and what he really has is a nonestate of children and debts.
This article is intended to stimulate argument. Nobody ever argues about Calvin Knox's nonestate. Nobody ever 'discusses' him in public. Practicing lawyers who can afford to write about "estate planning" pay no attention to him. Bar association panels and slick-paper journals leave him to …
Capital Gains Distributions Treated As Principal Under The Uniform Principal And Income Act, James H. Seckinger
Capital Gains Distributions Treated As Principal Under The Uniform Principal And Income Act, James H. Seckinger
Journal Articles
In In re Brock, The Supreme Court of Pennsylvania held: a distribution made by a mutual fund or regulated investment company, the source of which distribution is "realized capital gains," is properly allocable to principal under section 5(3) rather than section 5(1) of the Pennsylvania Principal and Income Act of 1947.
A typical mutual fund is an open-end diversified management investment company. Its business is to select, buy, hold, and sell corporate stocks and other securities. The fund's income is twofold. It derives income from interest and dividends on the securities in its portfolio and gains or profits from advantageous …