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Full-Text Articles in Estates and Trusts
Widows' Allowances And Marital Deductions-The Date-Of-Death Rule, Michigan Law Review
Widows' Allowances And Marital Deductions-The Date-Of-Death Rule, Michigan Law Review
Michigan Law Review
In every state there are statutes that provide for widows' allowances in an attempt to assure adequate support for widows during the time it takes to settle their husbands' estates. A common feature in most of these state support statutes is that the local probate judge is permitted to order an amount which the court finds to be reasonably necessary for the maintenance of the widow during the period of settlement to be set aside for her from the rest of the estate. The maximum amount permitted, the method of payment, the duration of the allowance, the extent to which …
Voluntary Payments To Widows Of Corporate Executives: Gifts Or Income?, Paul A. Rothman
Voluntary Payments To Widows Of Corporate Executives: Gifts Or Income?, Paul A. Rothman
Michigan Law Review
The solicitude of hardhearted corporations for the widows of corporate executives has given rise to an abundance of cases involving the question whether payments to these widows constitute gifts or income. In the cases to be considered in this comment, payments are made by the corporation to the decedent's widow on a purely voluntary basis. In the typical situation, the board of directors adopts a resolution eulogizing the decedent and authorizing payments to his widow in recognition of his long and faithful service. In most cases, these payments are measured by the decedent's salary and continue for periods ranging from …
Wills - Contract To Devise - Rights Of Subsequent Spouse With Notice Of Prior Contract At Time Of Marriage, Glenn O. Fuller
Wills - Contract To Devise - Rights Of Subsequent Spouse With Notice Of Prior Contract At Time Of Marriage, Glenn O. Fuller
Michigan Law Review
Decedent and his first wife executed reciprocal wills pursuant to a contract appearing on the face of the instruments. Each gave the other a life estate, with remainders to substantially identical beneficiaries. After his first wife's death, decedent remarried and in an antenuptial contract agreed to bequeath a sum of money to his second wife in lieu of all her claims against his estate. The second wife had actual notice of the prior agreement at the time of their marriage. Decedent then executed a new will which expressly revoked all prior wills, confirmed the terms of the antenuptial contract, and …
Fiduciary Administration-Executors And Administrators-Death Of Widow As Affecting Amount Of Her Allowance, Warren K. Urbom
Fiduciary Administration-Executors And Administrators-Death Of Widow As Affecting Amount Of Her Allowance, Warren K. Urbom
Michigan Law Review
A widow survived her husband by three months and thirteen days. Subsequent to the death of both, appraisers of the husband's estate set off to his widow $750 as her year's allowance. Executrix of the widow's estate filed an exception to the allowance and made application to increase the amount on the ground that the sum given would have been insufficient if the widow had lived the full year. Granting the application, the probate court found that a reasonable allowance based on twelve months would be $5000, The court of appeals reversed, holding that the allowance should be based on …
Wills-Undue Influence, Wendell B. Will S.Ed.
Wills-Undue Influence, Wendell B. Will S.Ed.
Michigan Law Review
The right to dispose of one's property at death is one of the more important rights attaching to the ownership of property. Undoubtedly the philosophy behind will statutes is that the presumptive heirs of a man have no claims upon his property and that a testator may do with his property as he pleases within other rules of law. There is more to protecting this right than merely giving effect to a paper presented as the testator's will. The courts must carefully scrutinize this paper to be sure that it actually represents the will of this testator. One of the …
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 …
Fiduciary Administration -- Deviation From Terms Of Trust--Invasion Of Principal For Benefit Of Life Tenant, W. Stirling Maxwell S.Ed.
Fiduciary Administration -- Deviation From Terms Of Trust--Invasion Of Principal For Benefit Of Life Tenant, W. Stirling Maxwell S.Ed.
Michigan Law Review
By a will executed in 1932 testator, who died in 1944, made outright bequests of $2,500 and his personal goods to his widow and $5,000 to each of his sons. He then devised the residue of his estate to trustees to pay the income to his widow for life and, upon her death, to distribute the corpus to his then living issue in equal shares by right of representation, and, in default of such issue, to those who would take if he had died intestate when his widow died. The will gave the trustees broad investment and management powers but …
Wills-Preference For Vesting Under Joint And Mutual Will, L. K. Cooperrider S.Ed.
Wills-Preference For Vesting Under Joint And Mutual Will, L. K. Cooperrider S.Ed.
Michigan Law Review
Chadwick and his wife executed in 1928 a joint and mutual will containing an express agreement that it should not be changed except by the agreement of both parties. The will then devised and bequeathed "unto the survivor of us . . . all of the property real or personal--of which we may die seized or possessed . . . and the survivor of us in accepting under the will shall be bound to carry out the provisions hereinafter and heretofore set forth. To have and to hold such property and and estate unto the survivor of us, for and …
Executors And Administrators-Priority Of Payment Of United States Claims, E. M. Deal S.Ed.
Executors And Administrators-Priority Of Payment Of United States Claims, E. M. Deal S.Ed.
Michigan Law Review
When decedent died in 1940, his personal estate was consumed by the widow's exemption and expenses of administration, leaving only a one-sixth interest in certain real estate formerly owned by his deceased father. Proceedings to partition this property resulted in a sum of $2,306.17 payable to decedent's widow, subject to the payment of his debts. The executors of one Davidson who had obtained a $24,588.00 judgment against decedent in 1933 claimed the entire fund as did the United States under tax liens entered in 1940 and 1941 of $2,202.89 and $8,904.67. The government based its claim on section 3466 of …
Trusts-Fiduciary's Duty Of Loyalty, Howard A. Jacobs
Trusts-Fiduciary's Duty Of Loyalty, Howard A. Jacobs
Michigan Law Review
Defendant and testator were partners. Upon the death of the testator leaving a widow and children, defendant was named executor under the will with power to manage, control or sell any of the property in the estate. The testator's children's share vested in defendant as trustee under the will. Thereafter, defendant formed a corporation to which he transferred the partnership property. Equal amounts of stock therein were issued to himself individually, and to himself in his fiduciary capacity for the widow and children; a number of shares were issued to a third party who had a contingent interest under the …
Constitutional Law - Impairing The Obligation Of Contracts - New York Decedents' Estate Law, Robert Walsh
Constitutional Law - Impairing The Obligation Of Contracts - New York Decedents' Estate Law, Robert Walsh
Michigan Law Review
By a premarital agreement executed in 1922 the wife of decedent waived all rights in his estate. The waiver was signed but not acknowledged. In August, 1930, decedent executed a will leaving $2,000 to his wife. In September, 1930, there went into effect an amendment of the Decedents' Estate Law of New York, which gave to a widow an election to take under or against the will of her husband and provided that such election could be waived only by an instrument signed and acknowledged. The statute applied only to wills executed after September, 1930. The decedent executed a codicil …
Constitutional Law - Due Process - Jurisdiction Of A State To Tax The Exercise Of A Power Of Appointment, Charles J. O'Laughlin
Constitutional Law - Due Process - Jurisdiction Of A State To Tax The Exercise Of A Power Of Appointment, Charles J. O'Laughlin
Michigan Law Review
Decedent's father, a resident of Massachusetts, by his last will created a trust of the residue of his estate, consisting of intangibles, and gave one share to decedent for life, with remainder to whomsoever decedent should appoint by will. The trust was administered in Massachusetts and there was no question as to that state's power to tax. Decedent, a resident of New York, appointed his share to his widow. The New York courts held that although the interest of the decedent fell within the provisions of the New York tax law imposing a tax upon the transfer of the net …
Taxation - Federal Estate Tax - Deduction Allowable For Gifts To Charity When There Has Been A Compromise, William H. Shipley
Taxation - Federal Estate Tax - Deduction Allowable For Gifts To Charity When There Has Been A Compromise, William H. Shipley
Michigan Law Review
The testator gave the residue of his estate to a charity. When the widow of the testator made known her intention to contest the will, the charity offered to give her "a sum equivalent to twenty-five per cent" of the amount it was to receive under the will. The widow then agreed to withdraw all objections to the probate of the will. The executors were not parties to the compromise agreement, nor was it incorporated in, or made a part of, the probate proceedings. The executors filed an estate tax return in which a deduction from the testator's gross estate …
Future Interests - Acceleration Of Contingent Remainders After Widow's Election To Take Against Will, Harry M. Nayer
Future Interests - Acceleration Of Contingent Remainders After Widow's Election To Take Against Will, Harry M. Nayer
Michigan Law Review
Testator made specific bequests in the first five items of his will, one bequest being directed to his wife. In the sixth item he gave his wife a life interest in all the property remaining after satisfying items one to five. Item seven provided for a remainder in some specific realty to a niece, and item eight provided that upon the death of the wife and after satisfying item seven, the residue of the estate was to go to five named beneficiaries and to all of his nephews and nieces "then living." The widow renounced her share under the will …
Wills - Holographic Revocation - Reference To Nontestamentary Act To Determine Will To Which Revocation Refers, William H. Shipley
Wills - Holographic Revocation - Reference To Nontestamentary Act To Determine Will To Which Revocation Refers, William H. Shipley
Michigan Law Review
Testator deposited his last will and testament with a trust company for safekeeping and received a receipt acknowledging the deposit. Several years later he wrote on the bottom of the receipt: "The Will and Testament above referred to I hereby declare void." The writing was signed and dated. On his death his widow alleged that he had died intestate and the probate court entered a decree recognizing the widow as sole distributee of the estate, valued at twelve million dollars. The legatees in the will instituted the present proceedings against the widow for a rule to show cause why she …
Dower - Premarital Conveyance As Fraud On Dower, Michigan Law Review
Dower - Premarital Conveyance As Fraud On Dower, Michigan Law Review
Michigan Law Review
Decedent, seven days before his marriage to plaintiff, conveyed all his property to his nephew, the defendant. Plaintiff was not informed of the transfer until some time after the marriage. The property was worth $22,000, and decedent, who was at that time sixty-two years of age, was allowed to retain a life estate therein. Cancellation of a note for $2,904 owing from decedent to defendant served as consideration for the transfer. Held, the transfer was a fraud on dower since it was made without the knowledge of the intended wife for the purpose of defeating the interest which she …
Wills - Construction Of Technical Terms, Michigan Law Review
Wills - Construction Of Technical Terms, Michigan Law Review
Michigan Law Review
Testatrix' will executed in 1916 provided, inter alia, "In case of the death of any of the above named children, I give . . . his share to his heirs." A son of testatrix died in 1929, survived only by his widow, complainant here, and his mother. In March 1938, the New York Decedent Estate Law was amended to provide that the word "heirs" when used in a statute, will or in any other written instrument prescribing the devolution of property rights, without express or implied declaration to the contrary, should be construed to mean the distributees, including a surviving …