Open Access. Powered by Scholars. Published by Universities.®
- Discipline
Articles 1 - 3 of 3
Full-Text Articles in Estates and Trusts
Who Killed The Rule Against Perpetuities?, Grayson M. P. Mccouch
Who Killed The Rule Against Perpetuities?, Grayson M. P. Mccouch
Pepperdine Law Review
During the last two decades more than half the states have either abolished or substantially weakened the traditional rule against perpetuities. The increased demand for perpetual trusts is widely attributed to the ability of such trusts to avoid federal wealth transfer taxes. Furthermore, recent empirical studies confirm a correlation between repeal of the rule against perpetuities (coupled with favorable state income tax treatment) and increased personal trust assets and average account size. This symposium article discusses the asymmetric benefits and drawbacks of perpetual trusts and concludes that the decline of the rule against perpetuities cannot be explained solely in terms …
Distracted From Distraction By Distraction: Reimagining Estate Tax Reform, Edward J. Mccaffery
Distracted From Distraction By Distraction: Reimagining Estate Tax Reform, Edward J. Mccaffery
Pepperdine Law Review
Recent legislation has left a gift and estate tax that will apply to far fewer than 1% of all decedents each year. This Article, prepared for a symposium on Tax Advice for the Second Obama Administration, argues that the estate tax has become largely irrelevant, except ironically as a spur to the creation and perpetuation of dynastic wealth via 'Dynasty Trusts.' The tax no longer meets any compelling policy rationale, such as raising revenue, 'backing up” the income tax, injecting progression into the tax system, or breaking up large concentrations of wealth. It is time to move on, and to …
Interstate Competition And State Death Taxes: A Modern Crisis In Historical Perspective , Jeffrey A. Cooper
Interstate Competition And State Death Taxes: A Modern Crisis In Historical Perspective , Jeffrey A. Cooper
Pepperdine Law Review
No abstract provided.