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Full-Text Articles in Estates and Trusts
Creation Of Joint Rights Between Husband And Wife In Personal Property: Ii, R. Bruce Townsend
Creation Of Joint Rights Between Husband And Wife In Personal Property: Ii, R. Bruce Townsend
Michigan Law Review
The net effect of the general legislation pertaining to the creation of joint tenancy has been to make lawyers sensitive to language expressing an intent to create joint tenancy, tenancy by the entireties and other types of survivorship rights which may or may not fall within the foregoing concepts. And so the law has busied itself with the task of giving technical meanings to words used by members of the public in their efforts to create joint rights in property-a task that has not been fully appreciated by people who acquire personal property from bankers, brokers, clerks and the like …
Trusts And Estates-Accumulations-Setting Aside Reserve For Depreciation On Trust Buildings, Hugh B. Muir
Trusts And Estates-Accumulations-Setting Aside Reserve For Depreciation On Trust Buildings, Hugh B. Muir
Michigan Law Review
Testator created a testamentary trust of several parcels of real property improved with apartment houses, authorizing the trustees to pay the net annual income therefrom to his sons in equal shares. The trust was to terminate when the youngest son attained the age of twenty-one, or, if he died before majority, when the second youngest son attained the age of thirty-seven, or sooner died. Remainder was to the testator's sons living at the termination date or their issue, per stirpes. Testator, while living, had maintained accounting records for the properties in such manner as to reflect an annual charge for …
Future Interests--Effect On Contingent Remainders Of Widow-Life Tenant's Election To Take Against A Will, Niel Mckay S.Ed.
Future Interests--Effect On Contingent Remainders Of Widow-Life Tenant's Election To Take Against A Will, Niel Mckay S.Ed.
Michigan Law Review
Testator devised one half of the income from an undivided one-third interest in certain real estate to the defendant, his wife, and provided that on her death the undivided one-third interest was to go to his brother and sister, plaintiffs here, if living, otherwise to his children in a certain named order if living. The defendant, testator's widow, elected to take her statutory share against the will, and the county court decreed her a one-half interest in the undivided one third, the other one-half interest going to the plaintiffs. Plaintiffs, also having title to the other two thirds of the …
Eminent Domain - Disposition Of Award When Land Is Subject To Life Estate And Remainder, Mary Jane Morris
Eminent Domain - Disposition Of Award When Land Is Subject To Life Estate And Remainder, Mary Jane Morris
Michigan Law Review
Testator devised property to his adopted daughter for life and remainder to her children, but should she leave no children at her death, then the estate was to go to a named charity. The United States took title to this property and paid the compensation into court. The life tenant and one of the five children filed a motion that the life tenant be permitted to withdraw the funds arising from the condemnation for the purpose of having them immediately reinvested in other real estate and/or government securities. This motion was approved by the guardian ad litem for the one …
The Meaning Of "Heirs" In Willsa Suggestion In Legal Method, Lewis M. Simes, Lorentz B. Knouff, George E. Leonard Jr.:
The Meaning Of "Heirs" In Willsa Suggestion In Legal Method, Lewis M. Simes, Lorentz B. Knouff, George E. Leonard Jr.:
Michigan Law Review
A major task of the lawyer is the prediction of judicial action. No less than a quarter of a century ago Justice Holmes referred to the law as a body of "systematized prediction." Today legal scholars are not content to base their predictions solely upon the body of rules announced in judicial opinions. By means of elaborate fact studies they have sought to ascertain how rules of law actually function in society. Not only have these studies dealt with problems of procedure and the administration of courts, they have also invaded the fields of commercial and property law. Among such …
Trusts-Devices For Defeating Rights Of Creditors
Trusts-Devices For Defeating Rights Of Creditors
Michigan Law Review
Attempts to protect property rights from the claims of creditors are faced at common law with the initial objection that restraints on the power of alienation are wholly ineffective. An exception has been recognized in this country in the case of equitable interests for life or for years. This exception, criticized severely at the time it was first recognized, has established itself in the law of most states in this country, though rejected in two jurisdictions.