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Articles 1 - 30 of 34
Full-Text Articles in Tax Law
A Comment On Modernizing New York Trust Law, C. Raymond Radigan, Jennifer F. Hillman
A Comment On Modernizing New York Trust Law, C. Raymond Radigan, Jennifer F. Hillman
ACTEC Law Journal
No abstract provided.
Trust Flexibility And The Role Of Courts In Limiting Property Forms, Carla Spivack
Trust Flexibility And The Role Of Courts In Limiting Property Forms, Carla Spivack
ACTEC Law Journal
No abstract provided.
Elaine Gagliardi On The Family Limited Partnership In 2018: Powell, Cahill, And Income Tax Basis At Death, Elaine H. Gagliardi
Elaine Gagliardi On The Family Limited Partnership In 2018: Powell, Cahill, And Income Tax Basis At Death, Elaine H. Gagliardi
Faculty Journal Articles & Other Writings
The Tax Court’s 2017 holding in Estate of Powell v. Commissioner1 followed by its 2018 decision in Estate of Cahill v. Commissioner,2 signals a need to rethink how best to structure the family limited partnership and the terms of the partnership agreement. In a shift away from its historical approach to analyzing gross estate inclusion of family limited partnership assets, the Powell court endorses application of Section 2036(a)(2)3 to include the value of partnership assets in decedent’s gross estate, and in an unprecedented step employs Section 2043 to determine the value of family limited partnership assets includible in the gross …
Change Is Constant In Estate Planning: Reflections Of An Actec Law Journal Editor, Bridget J. Crawford
Change Is Constant In Estate Planning: Reflections Of An Actec Law Journal Editor, Bridget J. Crawford
ACTEC Law Journal
No abstract provided.
Powers Of Attorney Under The Uniform Power Of Attorney Act Including Reference To Virginia Law, F. Philip Manns Jr.
Powers Of Attorney Under The Uniform Power Of Attorney Act Including Reference To Virginia Law, F. Philip Manns Jr.
ACTEC Law Journal
The Uniform Power of Attorney Act (UPOAA), approved in 2006, slightly amended in 2008 and more significantly amended in 2016, has been adopted by 27 U.S. jurisdictions. The UPOAA promotes uniformity in language delineating an agent's powers and mandates that third parties accept notarized powers of attorney. Under the UPOAA, an instrument simply granting an agent authority to do "all acts that a principal could do," vests that agent with broad powers: the precise delineation of those powers is produced by about a dozen pages of UPOAA text automatically incorporated by reference into such "all acts" instruments. However, the UPOAA …
Et Tu (A)(2)? Blattmachr & Gans Dismantle Tax Court's Powell Analysis, N. Todd Angkatavanich, James I. Dougherty, Eric Fischer
Et Tu (A)(2)? Blattmachr & Gans Dismantle Tax Court's Powell Analysis, N. Todd Angkatavanich, James I. Dougherty, Eric Fischer
ACTEC Law Journal
No abstract provided.
The New York Revised Statutes' Trust Code And The Path Of The Common Law, Alfred L. Brophy
The New York Revised Statutes' Trust Code And The Path Of The Common Law, Alfred L. Brophy
ACTEC Law Journal
No abstract provided.
Elegy, William P. Lapiana
Response To Professor Horton, Mr. James Pressly And Mr. J. Grier Pressly, Danaya C. Wright, Beth Sterner
Response To Professor Horton, Mr. James Pressly And Mr. J. Grier Pressly, Danaya C. Wright, Beth Sterner
ACTEC Law Journal
No abstract provided.
Discretionary Trusts: An Update, Richard C. Ausness
Discretionary Trusts: An Update, Richard C. Ausness
ACTEC Law Journal
In the past, settlors tended to limit a trustee's discretion by setting forth a specific formula for the distribution of trust assets. Nowadays, however, settlors often prefer to vest more discretion in their trustees. This is partly due to the fact that beneficiaries tend to live longer and, therefore, trusts inevitably last longer, thereby requiring trustees to respond to changing conditions. In addition, settlors often believe that vesting increased discretion on the part of trustees will discourage beneficiaries from bringing expensive and disruptive challenges to their decisions.
Nevertheless, the trend toward increased discretion is not without its problems. First of …
Commentary, Ronald H. Jensen
A Response To Democracy And Trusts, Jake Calvert
A Response To Democracy And Trusts, Jake Calvert
ACTEC Law Journal
No abstract provided.
Powell And Section 2036: Our Reply, Mitchell M. Gans, Jonathan G. Blattmachr
Powell And Section 2036: Our Reply, Mitchell M. Gans, Jonathan G. Blattmachr
ACTEC Law Journal
No abstract provided.
"Undemocratic" Trusts And The Numerus Clausus Principle, E. Gary Spitko
"Undemocratic" Trusts And The Numerus Clausus Principle, E. Gary Spitko
ACTEC Law Journal
In Democracy and Trusts, Professor Carla Spivack argues that, pursuant to the numerus clausus principle, a court is empowered to impair legislation authorizing a certain trust form where the legislation was not the product of "democratic decision-making." This imaginative claim is predicated upon two antecedent claims. First, Professor Spivack argues that the numerus clausus principle should apply to equitable interests. Second, she argues that the numerus clausus principle does not invest legislatures with the sole authority to determine allowable property forms; rather, courts also have an important role to play in composing the list of property forms. This review essay …
Intestacy, Wills, And Intent: A Short Comment On Wright & Sterner, David Horton
Intestacy, Wills, And Intent: A Short Comment On Wright & Sterner, David Horton
ACTEC Law Journal
No abstract provided.
Response: A Modern Assessment Of Intestacy Law, James G. Pressly Jr., J. Grier Pressly Iii
Response: A Modern Assessment Of Intestacy Law, James G. Pressly Jr., J. Grier Pressly Iii
ACTEC Law Journal
No abstract provided.
Taxation, Craig G. Bell, Michael H. Brady
Taxation, Craig G. Bell, Michael H. Brady
University of Richmond Law Review
This article reviews significant recent developments in the laws affecting Virginia state and local taxation. Its sections cover legislative activity, judicial decisions, and selected opinions or pronouncements from the Virginia Department of Taxation and the Attorney General of Virginia over the past year.
The Republic Of Virtue: The Republican Ideal In British And American Property Law, Maxwell M. Garnaat
The Republic Of Virtue: The Republican Ideal In British And American Property Law, Maxwell M. Garnaat
Cornell International Law Journal
As the estate tax comes under increasing pressure from all sides, it is important that we determine just how rooted in American ideals such a measure truly is. On the one hand, it is true that Lockean theories of private property remain a stalwart influence on the nation, one which may be used to argue against the estate tax. On the other hand, however, the equally venerable theory of republicanism— one adopted and developed by the Framers themselves— can justify its continuation. Applying the principles of republicanism to this specific context, one can see how closely its tenets align with …
The Contemporary Tax Journal Volume 7, No. 2 – Summer 2018
The Contemporary Tax Journal Volume 7, No. 2 – Summer 2018
The Contemporary Tax Journal
No abstract provided.
Front Matter (Letter From The Editor, Masthead, Etc.)
Front Matter (Letter From The Editor, Masthead, Etc.)
The Contemporary Tax Journal
No abstract provided.
Improving Tax Rules By Means-Testing: Bridging Wealth Inequality And "Ability To Pay", James M. Puckett
Improving Tax Rules By Means-Testing: Bridging Wealth Inequality And "Ability To Pay", James M. Puckett
James Puckett
The federal income tax can and should do more to address wealth disparities and income inequality. The income tax does not directly count wealth, and the realization rule and basis "step-up" at death exclude substantial amounts of income for the wealthy. The Constitution limits Congress's ability to tax wealth. Despite these serious challenges, this Article considers how to potentially bridge the gap between wealth and the income tax. For example, asset-based phase-outs in the income tax should pass muster without apportionment, although their bite would necessarily be limited. The Article posits that the public would be more receptive to phase-outs …
Commentary On Discretionary Trusts: An Update By Richard C. Ausness, Alexander A. Bove Jr.
Commentary On Discretionary Trusts: An Update By Richard C. Ausness, Alexander A. Bove Jr.
ACTEC Law Journal
No abstract provided.
Undue Influence: The Gap Between Current Law And Scientific Approaches To Decision-Making And Persuasion, Dominic J. Campisi, Evan D. Winet, Jake Calvert
Undue Influence: The Gap Between Current Law And Scientific Approaches To Decision-Making And Persuasion, Dominic J. Campisi, Evan D. Winet, Jake Calvert
ACTEC Law Journal
No abstract provided.
A Brief Review Of Professor F. Philip Manns, Jr., Powers Of Attorney Under The Uniform Power Of Attorney Act Including Reference To Virginia Law, Howard M. Zaritsky
A Brief Review Of Professor F. Philip Manns, Jr., Powers Of Attorney Under The Uniform Power Of Attorney Act Including Reference To Virginia Law, Howard M. Zaritsky
ACTEC Law Journal
No abstract provided.
Explaining The "Inexplicable": A Response To Powers Of Attorney Under The Uniform Power Of Attorney Act Including Reference To Virginia Law By Philip Manns, Jr., Andrew H. Hook, Jessica A. Hayes
Explaining The "Inexplicable": A Response To Powers Of Attorney Under The Uniform Power Of Attorney Act Including Reference To Virginia Law By Philip Manns, Jr., Andrew H. Hook, Jessica A. Hayes
ACTEC Law Journal
No abstract provided.
The Upoaa & Vaupoaa: My Response, F. Philip Manns Jr.
The Upoaa & Vaupoaa: My Response, F. Philip Manns Jr.
ACTEC Law Journal
No abstract provided.
Over My Dead Body: Preventing And Resolving Disputes Regarding The Disposition Of The Dead, Shawn Irwin Walker
Over My Dead Body: Preventing And Resolving Disputes Regarding The Disposition Of The Dead, Shawn Irwin Walker
ACTEC Law Journal
The death of a loved one can be one of the most difficult times of a person's life. This difficulty is multiplied when disputes arise regarding the final disposition of the loved one's bodily remains. There are unique issues that exist in disputes when human remains are involved that do not necessarily exist in other disputes that occur after death. Resolving these disputes involves looking to varying state laws that often use a status-based scheme that prioritizes who controls the remains. When a dispute exists regarding the disposition of remains there are a number of vehicles and avenues parties could …
Reactions To Discretionary Trusts: An Update By Richard C. Ausness, Gerry W. Beyer
Reactions To Discretionary Trusts: An Update By Richard C. Ausness, Gerry W. Beyer
ACTEC Law Journal
No abstract provided.