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Trusts-Descent And Distribution-Wife's Forced Share And An Inter Vivos Trust, Fredric L. Smith
Trusts-Descent And Distribution-Wife's Forced Share And An Inter Vivos Trust, Fredric L. Smith
Michigan Law Review
Settlor had created an inter vivas trust, retaining income for life, right to revoke, and control over the investment. Upon settlor's death, plaintiff, settlor's wife, was to receive income for life, with gift over to settlor's children. Plaintiff elected to take against settlor's will in favor of a statutorily provided distributive share. Upon application for declaratory judgment the trial court declared the trust to be valid, but granted relief to plaintiff as to her distributive share out of the trust assets, and the court of appeals affirmed. On motion to certify, held, reversed. Since the trust is valid, title …
Husband And Wife - Right Of Wife To Sue For Loss Of Consortium Due To Negligent Injury To Husband, James M. Porter S.Ed.
Husband And Wife - Right Of Wife To Sue For Loss Of Consortium Due To Negligent Injury To Husband, James M. Porter S.Ed.
Michigan Law Review
Plaintiff brought an action for loss of consortium with her husband, allegedly due to defendant's negligent injury of the husband. In a prior suit the husband's cause of action against the defendant had been settled and dismissed with prejudice. The trial court dismissed the present suit for failure to state a cause of action. On appeal, held, reversed. The wife has a valuable property right of consortium. Iowa statutes pertaining to the rights of married women clearly indicate the intent of the legislature to remove the common law bar of coverture that prevented a wife from maintaining an action …
Wills-Construction-Effect Of Precatory Words Relating -To Disposition Of Property On Donee's Death, Donald M. Wilkinson, Jr.
Wills-Construction-Effect Of Precatory Words Relating -To Disposition Of Property On Donee's Death, Donald M. Wilkinson, Jr.
Michigan Law Review
After two bequests, each of an absolute interest in one-third of her property, to a niece and a nephew, testatrix bequeathed the remaining one-third of her estate to her husband " ... to have and to hold subject to the request hereinafter stated. It, however, is my wish and desire and I charge my said husband ... to make disposition ... so that it will not pass to his heirs upon his death, but shall revert, after his death, to my heirs and be distributed to the legatees named in subparagraphs A. and B. of this clause Eighth ... subject, …
Bankruptcy-Powers Of The Trustee-Llens By Legal Or Equitable Proceedings Under Section 70c, Edward D. Goldstein S.Ed.
Bankruptcy-Powers Of The Trustee-Llens By Legal Or Equitable Proceedings Under Section 70c, Edward D. Goldstein S.Ed.
Michigan Law Review
Husband and wife filed a petition in bankruptcy. They petitioned the United States District Court for the Southern District of California to set aside their residence from the bankruptcy estate as exempt property. They had not filed their declaration of homestead until after the petition in bankruptcy. The district court set aside the property as exempt. On appeal, held, affirmed. Under California law homestead exemptions can be perfected after a petition in bankruptcy. The trustee's claim that section 70c of the Bankruptcy Act gave him a lien that prevailed over a homestead claim subsequently recorded was denied on the …
Personal Property-Tenancy By The Entirety In United States Series "E" Savings Bonds, William E. Beringer
Personal Property-Tenancy By The Entirety In United States Series "E" Savings Bonds, William E. Beringer
Michigan Law Review
A trustee in bankruptcy petitioned the referee to order a bank to tum over certain United States Series ''E" Savings Bonds as assets of the bankrupt's estate. The bonds were payable to the bankrupt "or" his wife and had been pledged to the bank by the bankrupt, with his wife's consent, as collateral for a personal loan. The referee denied the petition. On appeal, held, affirmed. Since the bonds were payable to persons who were husband and wife, a tenancy by the entirety was created, with each tenant holding an interest in the whole of the bond property. Neither …
Torts--Inducing Breach Of Contract--Attorney-Client Contingent Fee Contract, Richard W. Pogue
Torts--Inducing Breach Of Contract--Attorney-Client Contingent Fee Contract, Richard W. Pogue
Michigan Law Review
Plaintiff, a practicing attorney, undertook on a contingent fee basis to represent a husband and wife in separate claims for damages alleged to have been suffered by them through the negligence of the driver of a motor vehicle. The driver was insured under a policy issued by defendant. Defendant had notice of the contract. After plaintiff had started suit on the damage claim and as the case was about to be tried, defendant's adjusters, without knowledge on the plaintiff's part, allegedly induced the clients to discharge the plaintiff (and "thereby break their contingent fee contract with him") and subsequently to …
Trusts-Illusory Transfer-Rights Of Surviving Spouse, Carl S. Krueger
Trusts-Illusory Transfer-Rights Of Surviving Spouse, Carl S. Krueger
Michigan Law Review
ln 1939 Henry Halpern drafted a will naming his wife executrix and sole beneficiary of his estate. In 1946, about the time he and his wife separated, Halpern opened four savings accounts in his own name in trust for his infant granddaughter. While Halpern made subsequent deposits in two of them, he made no withdrawals; nor did he in any other manner revoke the trusts. Although evidence did not establish them as irrevocable trusts, it did show that Halpern on occasion indicated he meant the bank books to go to his granddaughter. Subsequently his wife, as executrix, instituted proceedings to …
Trusts-Construction-Whether Devise Of "Any Undisbursed Income" After Life Tenant's Death Includes Income Which Accrued Before Life Tenant's Death, Jean Engstrom S. Ed.
Trusts-Construction-Whether Devise Of "Any Undisbursed Income" After Life Tenant's Death Includes Income Which Accrued Before Life Tenant's Death, Jean Engstrom S. Ed.
Michigan Law Review
Testator's residuary estate was put in trust to pay income, dividends and profits to the testator's wife "so long as she shall live." In the same paragraph the will provided that at her death the "trustee shall stand seized and possessed of said residuary estate including any undisbursed income in trust." In a sub-paragraph the trustee was directed to "pay over the balance of said residuary estate to St. Joseph's Hospital." During her widowhood, testator's wife was in Switzerland where wartime exchange controls precluded payment of income to her under the terms of the trust. Both her administrator and the …
Quasi-Contracts-Taxation-Rescission Of Gifts Where Gift Fails To Achieve Donor's Purpose Of Minimizing Federal Income Taxes, Charles M. Soller S.Ed., Edwin F. Uhl S. Ed.
Quasi-Contracts-Taxation-Rescission Of Gifts Where Gift Fails To Achieve Donor's Purpose Of Minimizing Federal Income Taxes, Charles M. Soller S.Ed., Edwin F. Uhl S. Ed.
Michigan Law Review
A recent Michigan case, Stone v. Stone, presents problems of complexity and far-reaching importance. The plaintiffs, husband and wife, each owned a one-half interest in a family business partnership, and each apparently reported a proportionate share of the partnership earnings for federal income tax purposes. For the purpose of further reducing taxes on the income of the family unit, each parent transferred a one-quarter interest in the partnership to one of their two minor children, and thereafter each parent and child filed separate income tax returns reporting one-fourth of the partnership earnings as individual income. Each parent, under a …
Witnesses-Dead Man Statutes-Competence Of Spouse Of Party Or Interested Person-Effect Of Divorce, James E. Tobin S.Ed.
Witnesses-Dead Man Statutes-Competence Of Spouse Of Party Or Interested Person-Effect Of Divorce, James E. Tobin S.Ed.
Michigan Law Review
The "Dead Man" statutes, enacted in various forms in almost every state, generally forbid a party or person interested to testify in an action involving a decedent's estate. As is well known, these statutes are the lone survival of the common law rule disqualifying parties and persons interested as witnesses in all actions, a rule which has otherwise been universally repudiated because of the realization that pecuniary interest does not necessarily raise any large probability of falsehood and that, even if it did, the risks of admitting such testimony can easily be minimized and are far outweighed by the advantages …
Taxation--Income Tax--Nondeductible Losses--Intra-Family Transactions, Bayard E. Heath S.Ed.
Taxation--Income Tax--Nondeductible Losses--Intra-Family Transactions, Bayard E. Heath S.Ed.
Michigan Law Review
Petitioner managed his wife's as well as his own estate. On several occasions, to establish tax losses, he ordered his broker to sell certain stock on the Stock Exchange for his account, and then to buy the same number of shares of the same stock for his wife's account. Petitioner claimed losses derived from these sales when filing his income tax return, but the commissioner disallowed these deductions on the authority of section 24 (b) of the Internal Revenue Code. On the taxpayer's application to the Tax Court, it held section 24 (b) inapplicable. The circuit court of appeals reversed …
Community Property-Constitutionality Of The Pennsylvania Community Property Act, Richard J. Archer
Community Property-Constitutionality Of The Pennsylvania Community Property Act, Richard J. Archer
Michigan Law Review
After the effective date of the Pennsylvania Community Property Act the husband used income from his separate property to pay part of an advance installment on a life insurance policy acquired before the act. He afterward assigned the policy to the plaintiff. The insurance company refused to recognize the validity of the assignment without the wife's consent on the basis that the income from separate property became community property so as to give the wife an interest in the policy. The Pennsylvania Community Property Act provided, inter alia, that: (1) the separate property of each spouse shall consist of that …
Some General Aspects Of Michigan Community Property Law, William E. Burby
Some General Aspects Of Michigan Community Property Law, William E. Burby
Michigan Law Review
The common law, in recognition of the fact that one spouse is entitled to some economic security in the property of the other spouse, evolved the interests known as dower and curtesy. These interests, of course, apply only with respect to land. The husband enjoyed an additional economic advantage that came from the management and control of his wife's property. This latter advantage has disappeared with the advent of Married Women's Property Acts that confer upon married women the right to manage their own estates. Statutes have also expanded on the concept of dower and curtesy by providing for a …
Application Of Federal Income, Estate And Gift Tax Laws To Community Property, Willard S. Pedersen
Application Of Federal Income, Estate And Gift Tax Laws To Community Property, Willard S. Pedersen
Michigan Law Review
The ganancial or community concept of property ownership, by which husband and wife have equal, vested, undivided, one-half interests in property held by them as tenants in community, has been a thorn in the side of federal tax laws ever since some tax-conscious community income earner decided to report as taxable only one-half of the community income, leaving the other half to be reported by and taxed to his wife upon her separate return. Such procedure first became authorized in community property jurisdictions recognizing the wife's interest as "vested" in 1920. Not long thereafter the realization began to dawn upon …
Taxation--Estate Tax--Transfers Taking Effect At Death--Hallock Doctrine, John W. Riehm
Taxation--Estate Tax--Transfers Taking Effect At Death--Hallock Doctrine, John W. Riehm
Michigan Law Review
In 1925 and 1926 decedent and his wife created two trusts, decedent contributing 80 per cent, and his wife 20 per cent. Each trust provided for income to the wife during decedent's life, and on his death income was to be divided between the wife and a daughter or go to the survivor for life. On the death. of the survivor of the wife and daughter the corpus was to be distributed "According to the Statutes of descent and distribution of the State of Ohio, to the heirs at law of [decedent] and [wife], providing the heirs of [decedent] and …
Torts-Imputed Negligence In Michigan, Joseph N. Morency, Jr.
Torts-Imputed Negligence In Michigan, Joseph N. Morency, Jr.
Michigan Law Review
Husband was driving his wife and another passenger from work when, due to a combination of the negligence of the husband and that of the defendant, a collision occurred resulting in the death of the wife. Plaintiff as administrator of the wife brought an action under the Death Act against the defendant to recover damages for the minor children of the deceased to the support of whom the deceased had contributed. The trial court directed a verdict in favor of the defendant on the ground that the contributory negligence of the husband as driver was imputed to the wife as …
Taxation-Federal Estate Tax-Constitutionality Of Community Property Provisions Of Revenue Act Of 1942, Milton D. Solomon S.Ed.
Taxation-Federal Estate Tax-Constitutionality Of Community Property Provisions Of Revenue Act Of 1942, Milton D. Solomon S.Ed.
Michigan Law Review
Under Section 811 (e)(2), (g)(4) of the Internal Revenue Code, as amended by sections 402 and 404 of the Revenue Act of 1942, the Commissioner, in assessing an estate tax deficiency, included in decedent's gross estate all community property and insurance proceeds paid for with community funds. The decedent's estate filed claim for refund and the district court found for the petitioner. Held, the tax does not violate the due process clause of the Fifth Amendment nor does the taxing statute contravene Article I, Section 8 of the Constitution which requires that, "Excises shall be uniform throughout the United …
Family Partnerships Under The Income Tax, Yale A. Barkan
Family Partnerships Under The Income Tax, Yale A. Barkan
Michigan Law Review
The usual type of family partnership has the taxpayer operating or organizing a business, and giving or selling a portion of that business to his wife or children. The aim of the taxpayer is to divide his income among members of the family group. The profits are thus taxed to two or more individuals, rather than to the taxpayer alone. Recognition of these family partnerships for federal income tax purposes is just one aspect of the family income problem.
Insurance-Gratuitous Assignment Of Life Policy Where Right To Change Beneficiary Is Reserved, Craig E. Davids S.Ed.
Insurance-Gratuitous Assignment Of Life Policy Where Right To Change Beneficiary Is Reserved, Craig E. Davids S.Ed.
Michigan Law Review
Defendant issued a life insurance policy to deceased, naming plaintiff, then insured's wife, as beneficiary. The policy reserved to the insured the right at any time to change the beneficiary without the knowledge or consent of the latter, and it further provided that no assignment should affect the rights of insurer until due notice was given to defendant. Sometime later, plaintiff divorced insured, who had indicated by personal conversation and correspondence with his sister the intervener, that he intended that the sister should receive the proceeds of the insurance. In one letter the insured referred to the policy and said, …
Banks And Banking-Bank Deposits And The N.I.L.
Banks And Banking-Bank Deposits And The N.I.L.
Michigan Law Review
Plaintiff sued H and W and a writ of garnishment was issued against B who filed a disclosure of an indebtedness owing to H and W as joint creditors. W was later dropped from the case by a voluntary non-suit. Shortly after such dismissal, W applied to B for payment of the debt, but payment was refused because of the outstanding garnishment. B, however, expressed to W an intention, perhaps even an assurance, to honor such application when freed of the garnishment. That garnishment was dismissed several days later, but in the meantime another writ of garnishment in the …
Wills - Joint And Mutual Wills - Contracts To Bequeath And Devise - Statute Of Frauds, Charles J. O'Laughlin
Wills - Joint And Mutual Wills - Contracts To Bequeath And Devise - Statute Of Frauds, Charles J. O'Laughlin
Michigan Law Review
The husband and wife made joint and mutual wills, each giving to the survivor a life interest in his or her separate property with the remainder to their foster daughter, the plaintiff. The wife died first, but the husband destroyed the entire will, and took possession of all the wife's property. The husband then died intestate, and plaintiff brought suit against the heirs to enforce the dispositions made by the joint and mutual will. Plaintiff introduced evidence to show that the will was the product of a contract, and therefore irrevocable. Defendant objected on the grounds that the agreement was …
Wills - Joint And Mutual Wills - Contracts To Bequeath And Devise - Statute Of Frauds, Charles J. O' Laughlin
Wills - Joint And Mutual Wills - Contracts To Bequeath And Devise - Statute Of Frauds, Charles J. O' Laughlin
Michigan Law Review
Husband and wife made joint and mutual wills, each giving to the survivor a life interest in his or her separate property with the remainder to their foster daughter, the plaintiff. The wife died first, but the husband destroyed the entire will, and took possession of all the wife's property. The husband then died intestate, and plaintiff brought suit against the heirs to enforce the dispositions made by the joint and mutual will. Plaintiff introduced evidence to show that the will was the product of a contract, and therefore irrevocable. Defendant objected on the ground that the agreement was not …
Wills - Provisions For Construction Of The Will By Umpire Named By Testator, Alfred I. Rothman
Wills - Provisions For Construction Of The Will By Umpire Named By Testator, Alfred I. Rothman
Michigan Law Review
Testatrix created a trust and bequeathed one-fifth of the income to her son W and to S, his wife, with a proviso that if S survived her husband such income should not be paid to her in case she remarried. S divorced Wand remarried. Under a clause in the will giving them the power to determine with finality any question as to the construction or administration of the will, the executors and trustees construed the will to mean that S was not to receive any further share of the income, that testatrix would consider the divorce and remarriage during …
Contracts - Consideration - Moral Obligation To Pay For Services Rendered In Past, Michigan Law Review
Contracts - Consideration - Moral Obligation To Pay For Services Rendered In Past, Michigan Law Review
Michigan Law Review
After decedent's wife died, claimants, her mother and sister, at the request of the decedent, broke up their home and came to live with him, to keep house for him and to care for his children. These services continued for ten years, at which time the decedent gave claimants his promissory notes aggregating $2,000. They entered these notes as claims against his estate. Held, the claimants' services, even if rendered gratuitously, were performed at the decedent's request and raised a moral obligation which was sufficient consideration for the notes. In re Schoenkerman's Estate, (Wis. 1940) 294 N. W. …
Trusts - Confidential Relationship - Imposition Of Constructive Trust On Transferee Of Land On Oral Promise To Reconvey, Michigan Law Review
Trusts - Confidential Relationship - Imposition Of Constructive Trust On Transferee Of Land On Oral Promise To Reconvey, Michigan Law Review
Michigan Law Review
Plaintiff was induced to transfer his half interest in realty to his mother, because of her and his sister's fear that the income from the land, to which the mother was entitled during her life, might be tied up by the son's wife with whom he was having marital difficulties. There was no written evidence of the trust, but the mother had promised that she would act as trustee until the marital difficulties were settled, and then reconvey. Thereafter she conveyed to the sister, who, with knowledge of the agreement, refused to reconvey. Held, because of the confidential relationship …
Taxation - Federal Estate Tax - Life Insurance Payable To Specific Beneficiary, Roy L. Steinheimer
Taxation - Federal Estate Tax - Life Insurance Payable To Specific Beneficiary, Roy L. Steinheimer
Michigan Law Review
Six life insurance policies were taken out by decedent upon his own life between March 19, 1925 and January 2, 1929. On July 20, 1932 the decedent, by an instrument in writing, made an assignment of the policies to his wife and named her the beneficiary under the policies. From the date of the assignment until the date of his death, the decedent did not possess any incidents of ownership of the policies though he continued to pay the premiums. The wife of the decedent sued to recover the amount of the tax, assessed and paid on the net proceeds …
Evidence - Hearsay Rule - Use Of "Res Gestae", Henry L. Pitts
Evidence - Hearsay Rule - Use Of "Res Gestae", Henry L. Pitts
Michigan Law Review
In an action on a life policy which acknowledged receipt of the first premium, the insurer-defendant claimed that no premium payment was made and that delivery was only to allow inspection and comparison with a specimen copy of the policy already in the hands of insured's wife. The district court admitted testimony by the insured's wife, the beneficiary and plaintiff in the action, to the effect that when the insured turned the policy over to her he said it was hers and paid for. The Circuit Court of Appeals for the Fifth Circuit sustained the ruling and, on motion for …
Taxation - Federal Gift Tax - Taxability Of Interest Passing At Creation Of Tenancy By Entirety, Ben H. Dewey
Taxation - Federal Gift Tax - Taxability Of Interest Passing At Creation Of Tenancy By Entirety, Ben H. Dewey
Michigan Law Review
On September 20, 1933, petitioner transferred by deed realty owned by him in fee to himself and his wife as tenants by the entirety. The commissioner of internal revenue determined that the transfer constituted a taxable gift under the Gift Tax Act of 1932. Petitioner took an appeal to the Board of Tax Appeals. Held, with one dissent, that such creation of a tenancy by the entireties did not constitute a taxable transfer under the Gift Tax Act. Hart v. Commissioner, 36 B. T. A. No. 176 (Dec. 28, 1937).
Dower - Power Of Husband To Defeat His Surviving Spouse's Statutory Succession Rights By An Inter Vivos Transaction, Elbridge D. Phelps
Dower - Power Of Husband To Defeat His Surviving Spouse's Statutory Succession Rights By An Inter Vivos Transaction, Elbridge D. Phelps
Michigan Law Review
Ferdinand Straus died July 1, 1934, leaving a will dated May 5, 1934, which named his wife life beneficiary of a trust composed of one-third of his real and personal property, this being the minimum provision which he could make for her and yet preclude an election on her part to take against the will under the New York Decedent Estate Law. Three days before his death testator executed trust agreements by which he transferred all his real and personal property to trustees, who are defendants herein, and which named plaintiff herein as ultimate beneficiary. In general, all powers granted …
Legislative Attack On "Heart Balm", Nathan P. Feinsinger
Legislative Attack On "Heart Balm", Nathan P. Feinsinger
Michigan Law Review
Public resentment over the abuses incident to "heart balm" suits has recently culminated in sweeping legislative reform. Through the repeated efforts of a woman legislator, Indiana has abolished actions for seduction of females over twenty-one years of age, for breach of promise to marry, and for criminal conversation and alienation of affections. Almost immediately New York, and shortly thereafter Illinois, passed similar legislation, and at least ten other states are now considering analogous proposals.