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Trusts - Cancellation - Beneficiaries As Necessary Parties
Trusts - Cancellation - Beneficiaries As Necessary Parties
Michigan Law Review
The plaintiff deeded property to the defendants in trust, for herself for life and on her death to certain named persons. Plaintiff sued the defendants alone for revocation on the ground of fraud and duress. Held, the issue of fraud could not be tried in the absence of the living cestuis. McKnight v. Bank of N. Y. & Trust Co., 254 N. Y. 417, 173 N.E. 568.
Trusts-Right Of Trustee To Reimbursement For Tort Liability
Trusts-Right Of Trustee To Reimbursement For Tort Liability
Michigan Law Review
The recent New York case, In re Lathers presents the question seldom before raised whether a trustee may be reimbursed from the trust estate for tort liability to a third person through his negligence in management of the estate. In that case, as a result of fire in an apartment building of the trust property, the trustee suffered judgments for $62,000 plus costs. The rooms of one apartment, rented by the trustee's agent, had been closed off by the lessee to form several small apartments. For the one subleased to the tort creditor, access to fire escapes, adequate normally, was …
Jurisdiction For The Purpose Of Imposing Inheritance Taxes, David R. Mason
Jurisdiction For The Purpose Of Imposing Inheritance Taxes, David R. Mason
Michigan Law Review
For nearly half a century so-called inheritance tax laws of the states of the United States have been predicated upon two distinct theories of jurisdiction, many states embodying both theories into their statutes. Recent decisions rendered by the Supreme Court of the United States, however, challenge the constitutionality of such a scheme and indicate the expediency of a review of the extent of state jurisdiction for the purpose of imposing such taxes.