Estates and Trusts Commons^™

Estate Tax--The Marital Deduction And Power Of Appointment, Edward` Garfield Atkins

West Virginia Law Review

No abstract provided.

Abstracts Of Recent Cases, Ellen Fairfax Warder

West Virginia Law Review

No abstract provided.

Future Interests—Application Of Statute To Bar Enforcement Of Matured Reverter Held Unconstitutional, Alan A. Ransom

Buffalo Law Review

Board of Educ. v. Miles, 15 N.Y.2d 364, 207 N.E.2d 181, 259 N.Y.S.2d 129 (1965).

Decedents Estates—Testamentary Trusts—Adopted Children Now Presumed Included Within Class Term “Issue” As Used In Wills And Testamentary Trusts, Ronald J. Thomas

Buffalo Law Review

In the Matter of the Estate of Park, 15 N.Y.2d 413, 207 N.E.2d 859, 260 N.Y.S.2d 169 (1965).

Wills--Equitable Conversion, Robert Willis Walker

West Virginia Law Review

No abstract provided.

Trusts--Limitations On Distributions From Incompetent's Estate, David Gail Hanlon

West Virginia Law Review

No abstract provided.

Retention Of Control Over Stock Constitutes "Ownership" Under Section 1239 Of The Internal Revenue Code-Harry Trotz, Michigan Law Review

Michigan Law Review

Petitioner set up a corporation, retaining seventy-nine per cent of the stock and -distributing the remainder to a third party. The third party borrowed from petitioner, pledging his stock as security and executing an option agreement under which the petitioner could recover the stock at any time. Subsequently, the newly organized corporation purchased all the depreciable assets of petitioner's proprietorship at a price in excess of their adjusted basis; petitioner reported the difference as a capital gain. The Commissioner declared a deficiency, relying on section 1239 of the Internal Revenue Code, which treats as ordinary income the gain recognized from …

Abstracts Of Recent Cases, Frank Cuomo Jr.

West Virginia Law Review

No abstract provided.

An Inquiry Into The Utility Of "Domicile" As A Concept In Conflicts Analysis, Russell J. Weintraub

Michigan Law Review

No attempt is made here to conduct an exhaustive case study of any one particular area in which the concept of "domicile" is used as a tool for analysis in the conflict of laws. A number of thorough and useful studies have been made in narrow areas and are cited at appropriate places in the body of this article. Instead, this article will review the use of "domicile" in analyzing certain typical conflicts problems, particularly its use as the contact or pointing word in choice of law rules concerning the testate and intestate distribution of movables, and, as is newly …

Withholding Taxes On Wage Dividends For Pre-Bankruptcy Wages Assigned To Fourth Priority In Distribution Of Bankrupt's Estate-In Re Connecticut Motor Lines, Inc., Michigan Law Review

Michigan Law Review

Among claims against a bankrupt estate were those for unpaid wages and vacation pay earned within three months of the bankruptcy of the employer. The referee ordered distribution of the amount of the claims, assigning them second priority, but he refused to authorize deduction of income withholding tax and social security taxes from these payments as requested by the Government. The district court reversed, holding the trustee in bankruptcy liable for the taxes as a first priority administrative expense. On appeal, held, reversed. Taxes based on wage claims accruing prior to bankruptcy but paid during bankruptcy are section 64a(4) …

Rights Of Surviving Party Before Final Divorce

Washington and Lee Law Review

No abstract provided.

Marital Deduction Formula Clauses In Estate Planning-Estate And Income Tax Considerations, Alan N. Polasky

Michigan Law Review

Once upon a time, and not so very long ago, a child was born, much to the delight of its lawyer-parents. As children will, it brought much joy and only occasional moments of dismay and concern during its early, formative years. But one day it entered the terrible teens, and at age sixteen it became, like many teen-agers, baffling, confusing, and frustrating, giving rise to frenzied attempts to cope with and control the complexities of its behavior. Its name? The Federal Estate Tax Marital Deduction.

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 …

The Joint And Survivor Account In Michigan-Progress Through Confusion, Richard V. Wellman

Michigan Law Review

Legal writers have been intrigued for years by the challenge of classifying and identifying the resulting incidents of the joint and survivor bank deposit when an attempt is made to use it as a mode of effectuating a donor depositor's intention to confer benefits on a donee co-depositor. Much in their discussions is useful to one who is concerned with the concept that has evolved in Michigan, where a 1909 statute states that some co-depositors are presumed to be joint tenants. Michigan judges and practitioners must determine, however, whether comment about national trends is applicable here, for in many respects …

Probate Reform In Washington, Robert A. Stewart, John Richard Steincipher

Washington Law Review

In 1960, two events occurred which illustrate current disenchantment with Washington probate law and highlight the need for reformation and modernization. In that year the voters of this state overwhelmingly adopted an Initiative providing for joint tenancy, despite counsel from the bar that "the initiative is dangerous and that if adopted... will bring back a state of chaos and disrupt the operation of our modern and progressive community property laws." The concern from which this legislation issued was indicated in the Initiative's opening clause, "[J]oint tenancy with right of survivorship permits property to pass to the survivor without the cost …

Planning Incompetents' Estates Via Inter-Vivos Distributions, Joseph C. Kelly

Villanova Law Review

No abstract provided.

Maryland Death Taxes, Charles G. Page

Maryland Law Review

No abstract provided.

State Attorney General - Guardian Of Public Charities, Robert L. Gray

Cleveland State Law Review

In 1954, the National Conference of Commissioners of Uniform State Laws, having recognized the need for legislation in this area, published the Uniform Supervision of Trustees for Charitable Purposes Act, which was similar to the New Hampshire law. As has been stated, California soon passed the uniform act. Iowa (1959), Michigan (1961), Illinois (1961), and Oregon (1963) have since passed the uniform act. There are slight variations in the versions passed by the above states, but the general effect of their laws is the same. While the legislatures of these states have provided the law,they have not always provided the …

Common Problem In Administration Of Decedents' Estates, Daniel F. Carmack

Cleveland State Law Review

Probably the worst pitfall in the administration of decedent's estates is the fact that the law relating to it has so few pitfalls. As opposed to workmen's compensation practice, for example, the statutes covering administration and the devolution of decedent's property are relatively all-inclusive. There is a statute to cover most situations, and if the lawyer will read them, he will probably do a creditable job in most situations. This encourages the average practitioner to think of probate practice as an opportunity to shoot fish in a barrel, and get well paid for doing it. As we shall see, there …

Wills - Slayer's Act - Re-Litigation Of Guilt In Orphan's Court, Kenneth S. Robb

Duquesne Law Review

Re-litigation of guilt in Orphans' Court-Conviction of murder conclusive bar to recovery under decedent's will.

Kravitz Estate, 418 Pa. 319 (1965).

A Future For Girard's Dream, Henry S. Hilles Jr., Wilfred B. Wolcott Jr.

Villanova Law Review

No abstract provided.

Testamentary Option To Purchase Realty Can Be Exercised Under Anti-Lapse Statute By Heirs Of Beneficiary--Tuecke V. Tuecke, Michigan Law Review

Michigan Law Review

Testator devised his farm to his son and two daughters. The son, who predeceased his father, was bequeathed an option to purchase the daughters' two-thirds interest in the farm for a specified amount. Over the objection of the daughters, the heirs of the son sought to exercise the option under an anti-lapse statute. The trial court concluded that the son's heirs had inherited the right to purchase. On appeal to the Supreme Court of Iowa, held,affirmed. An option to purchase is a valuable property right inheritable under an anti-lapse statute.

The Attorney General And The Charitable Trust Act - Wills, Contest And Construction, Dale R. Martin

Cleveland State Law Review

In Ohio the Attorney General shall appear in any court or tribunal in which the state is interested. The common law interpretation of the duties of the Attorney General regarding charitable trusts in the state of Ohio has been supplanted by statutory law which is enumerated in Sections 109.23-109.33 of the Ohio Revised Code, often referred to as the Charitable Trusts Act.