Estates and Trusts Commons^™

Abstracts Of Recent Decisions, Benjamin M. Quigg, Jr.

Michigan Law Review

The abstracts consist merely of summaries of the facts and holdings of recent cases and are distinguished from the notes by the absence of discussion.

Soldiers And Sailors-Civil Relief Act Of 1940-Application To Decedents' Estates, Secured Obligations, Installment Contracts, Insurance, Taxes, And Assessments

Michigan Law Review

On October 17, 1940, the Soldiers' and Sailors' Civil Relief Act became effective. The discussions which follow, written by different authors, do not cover the entire act, but only the parts indicated by the various headings.

The Development Of The Massachusetts Probate System, Thomas E. Atkinson

Michigan Law Review

American lawyers and laymen alike take for granted a system of probate of wills and administration of decedents' estates under the supervision of a single tribunal usually called a probate court. We are familiar with the setting up of the will, appointment of the personal representative, filing of bond and inventory by the latter, granting of allowances for support of the family, notice to creditors to present their claims, and settlement of accounts of the administration, all accomplished by this court's orders or under its scrutiny. While real property is deemed to pass directly to the heirs or devisees, it …

Future Interests - Charities - Validity Of Accumulation For Charity When Impracticable To Accumulate Desired Amount, Hobart Taylor, Jr.

Michigan Law Review

An executor petitioned for instructions under a will which devised the residuary estate to trustees to be accumulated in trust until sufficient to purchase a farm upon which a home for the aged and indigent would be established. The trustees waived all interest in the fund, which amounted to less than two hundred dollars. Held, there is no reasonable prospect of the accumulation becoming sufficient to establish the charity, or to maintain it if it should be established. The contingencies are thus so remote that the trust fails for impracticality. Green v. Parker, (N.H. 1943) 32 A. (2d) …

Abstracts, Katherine Kempfer

Michigan Law Review

The abstracts consist merely of summaries of the facts and holdings of recent cases and are distinguished from the notes by the absence of discussion.

Future Interests - Taxation - Evidence - Presumption As To The Possibility Of A Woman Bearing Children, Hobart Taylor, Jr.

Michigan Law Review

Testatrix, a resident of Massachusetts, set up a trust of her residuary estate for her two daughters, the principal to be paid to their issue, but if either should die without issue, her share to be paid to certain named charities. On probate, the remainder to charity was held to be void. The income tax law of Massachusetts imposed a three per cent levy on income accumulated for contingent future interests, but exempted from taxation certain interests of nonresidents, including vested remainders not subject to being divested. The daughters, nonresidents, contended that their interests should not be taxed as contingent …

Powers -Testamentary Power - Enforceability Of Contract To Exercise, Hobart Taylor, Jr.

Michigan Law Review

Charles Wetmore and Morgan Kent, beneficiaries of a trust under the will of their mother which was probated in 1913, entered into an agreement whereby Kent agreed, inter alia, to devise one ninth of the corpus of the estate to Kent's children living at the time of his death in consideration of a promise by Wetmore to exercise a testamentary power of appointment given by the will of the testatrix over one sixth of the corpus in favor of Kent, or if he be deceased at the time Wetmore's will became effective, in favor of such persons as Kent should …

Trusts - What Constitutes Revocation When No Method Specified, Dickson M. Saunders

Michigan Law Review

By trust deed of 1927, settlor conveyed two mortgages {the first for $5,200, and the second for $1,000, both given by Harry E. Hough and wife) to trustees, in trust for herself for life, and providing for certain disposition upon her death. The trust deed was revocable with reserved power in the settlor to convey, release or otherwise dispose of the property. In 1928 the settlor released both mortgages but took in lieu thereof one mortgage for $6,200 from the same mortgagors on the same property. This substitution was effected to accommodate the mortgagors and no money changed hands. The …

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 …

Principal And Agent-Whether Principal Constructive Trustee Of Money Secured By Fraud From Third Person To Make Up Embezzled Funds, Dickson M. Saunders

Michigan Law Review

Taggart embezzled from his principal, defendant American National Insurance Company, $1,000 received from Miss Mortensen for a deferred life annuity. Subsequently, in a transaction with plaintiff, wholly outside the scope of his general receiving agency for the insurance company, Taggart secured $1,200 through fraud. From this Taggart then replaced the $1,000 due his principal. In suit by plaintiff to recover, Taggart defaulted; liability of the insurance company is based upon the theory that $1,000 has been traced into its hands, and because of Taggart's fraud, this sum became impressed with a constructive trust in favor of the plaintiff. Held, …

Abstracts, Katherine Kempfer

Michigan Law Review

The abstracts consist merely of summaries of the facts and holdings of recent cases and are distinguished from the notes by the absence of discussion.

Executors And Administrators-Will Contest-Right To Recover Cost From The Estate, Dickson M. Saunders

Michigan Law Review

Letters testamentary were issued on April 5, 1938 to the Emporium Trust Company under the will of Henrietta Fetter. By the terms of the will the trust company had been named executor and also trustee of the residuary trust. Two-thirds of the income of this trust was to go to the testatrix' son George for life, and the other third to the testatrix' brother, Fred Morse, for life, with remainders over upon the death of the life tenants. On June 20, 1938, George Fetter appealed from the probate of the first will, alleging it was superseded by a later holographic …

Executors And Administrators-Right Of Creditors Of A Decedent To Recover From Distributees After The Estate Is Closed

Michigan Law Review

A recent California decision suggests a problem of some difficulty in the administration of decedents' estates. In Dabney V. Dabney, it appeared that a decedent had, in his lifetime, contracted to pay the plaintiff $100 and $350 respectively, monthly, as long as plaintiff should live, according to the terms of two contracts. In distributing the estate the court, as provided in the California Probate Code, had set aside a sum of money for the purpose of paying these monthly installments. The estate was then distributed, defendant herein being the principal distributee. On February 17, 1941, there remained only $216 …

Corporations - Foreign Corporations - Effect Of Complying With Domestication Statute, E. George Rudolph

Michigan Law Review

Decedent was a resident of Nebraska and all his property was located there. By his will he left the residue of his estate to a number of charitable institutions including the Topeka Branch of the Women's Foreign Missionary Society of the Methodist Episcopal Church, a corporation incorporated in Kansas. The Topeka Branch claimed exemption from the Nebraska inheritance tax because it was a domestic charitable corporation, having complied with the Nebraska statute providing, "Any corporation organized under the laws of any other state . . . which has filed . . . with the secretary of state of this state, …

Key Problems In The Apportionment Of Increase Between Successive Interests In Personalty, Erwin Esser Nemmers

Michigan Law Review

It has been said with some amount of truth that "Perhaps no other question in the law of future interests has called forth such a voluminous literature as the question of the allocation of dividends and the other accruing benefits as between the life tenant and the remainderman of shares of corporate stock."

The present writer's purpose in adding to the material on the subject is to show the relation to the case law of the rules set forth in the Restatement of Trusts and the Uniform Principal and Income Act. While difficult problems of apportionment arise in regard to …

Wills-Construction-Implied Condition Of Survival With Particular Reference To Michigan Law

Michigan Law Review

If the language of a will creates a future interest, when is there an implied condition that the one to whom the interest is given must survive the termination of prior interests? In general, this question is answered by applying the proposition that the law prefers to construe an interest as vested rather than contingent and as indefeasible rather than defeasible. Hence it would seem that, in order to imply a condition precedent of survival, there must be some language on which to base the implication. This, however, does not tell the entire story. There are numerous special rules applicable …

Powers - Less Than Outright Appointments, H. Marshall Peter

Michigan Law Review

The decedent created a voluntary trust, providing for income payments to himself during his life and upon his death to X for her life, and directing the trustee "at her death to pay over and deliver the principal of said trust to whomsoever may be designated by her by Will or other testimentary instrument . . . . " In the event that she failed to make such designation, her descendants, or, if there were none, her heirs were to receive the principal. X in her will gave her husband a life estate and, on his death or remarriage, bequeathed …

Wills - Incorporation Of Deed By Reference - Construction

Michigan Law Review

The sixth clause of testator's duly executed will was as follows: "I have already deeded to my niece, Alta J. Pullman, the southeast quarter (SE¾) of section eight (8), township twenty-four (24), north, range four (4), east of the 6th P. M. in Cuming county, Nebraska, and for that reason I do not devise any real estate to her in this Will." About thirteen months prior to the execution of this will, testator and his wife executed a deed conveying this tract of land to Alta J. Pullman. The deed was never delivered, and was not executed in accordance with …

Wills - Class Gifts - Language And Circumstances Necessary To Constitute, Michigan Law Review

Michigan Law Review

By the second and third clauses of his will Lester Evans bequeathed to his son and daughter $35 each. The fourth clause disposed of "all the rest, residue, and remainder of my estate" to seven named persons of no relation to the testator or among themselves. One of the named persons was his bride-to-be, and she was included for the purpose of carrying out the antenuptial contract to leave her one-seventh of his estate if he were to predecease her. The clause concluded, "each person shall take an equal undivided one-seventh (1/7) share, absolutely and forever." The fifth clause explained …

Trusts - Constructive Trusts - Protection Of Trade Secrets And Like Confidential Information, E. George Rudolph

Michigan Law Review

Plaintiff hired a seismograph company to make surveys of certain land for the purpose of locating oil and gas. The results of the survey were favorable. An employee of the seismograph company communicated the results to the defendant who thereafter leased the land. Plaintiff brought suit to have defendant declared constructive trustee of the land for plaintiff. Held, that the relief could not be granted since defendant might have leased the land without such information. Ohio Oil Co. v. Sharp, (D. C. Okla. 1942) 45 F. Supp. 969.