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Practical Islamic Estate Planning: A Short Primer, Imani Jaafar 2016 Mitchell Hamline School of Law

Practical Islamic Estate Planning: A Short Primer, Imani Jaafar

Mitchell Hamline Law Review

No abstract provided.


Sending The Wrong Message: The Current State Of Minnesota Law Raises Multiple Barriers To Meaningful Resolution For Our Elder Population When Bringing Medical Malpractice Claims, Suzanne M. Scheller 2016 Mitchell Hamline School of Law

Sending The Wrong Message: The Current State Of Minnesota Law Raises Multiple Barriers To Meaningful Resolution For Our Elder Population When Bringing Medical Malpractice Claims, Suzanne M. Scheller

Mitchell Hamline Law Review

No abstract provided.


Inheritance Rights Of Posthumously Conceived Children: A Plan For Nevada, Cassandra M. Ramey 2016 University of Nevada, Las Vegas -- William S. Boyd School of Law

Inheritance Rights Of Posthumously Conceived Children: A Plan For Nevada, Cassandra M. Ramey

Nevada Law Journal

No abstract provided.


Emerging Challenges In Asset Protection Planning, Inga Ivsan 2016 University of Miami Law School

Emerging Challenges In Asset Protection Planning, Inga Ivsan

University of Miami Business Law Review

Asset protection planning has gained in popularity and acceptance among estate planners over the past two decades, and is now a headline topic at national legal conferences and a featured subject in law school curricula. While the self-settled spendthrift trust was once considered the domain of a handful of offshore jurisdictions, sixteen American states have now enacted legislation to facilitate such planning closer to home.

This article examines the historical challenges and contemporary threats to asset protection planning, including: Past use of the contempt powers of the courts to compel debtors to repatriate assets held offshore; tort liability for civil ...


One Fund Solution And The Pension Crisis, Gordon Butler 2016 St. Thomas University School of Law

One Fund Solution And The Pension Crisis, Gordon Butler

Cleveland State Law Review

The next forty years of economic life will be dominated by one underlying theme: dealing with the retirement income security of a growing, aging and longer-lived global population. This is a "can’t run, can’t hide" problem that will affect the lives of almost every human being on the planet . . . Whether you are light in your pension account, whether you have more money than Croesus, whether you live in the well-funded Netherlands, or whether you are a put-upon unambitious young male in Japan who sees no future for himself, you cannot escape this problem.

Before you read very far ...


The One-Hundredth Anniversary Of The Federal Estate Tax: It’S Time To Renew Our Vows, Paul L. Caron 2016 Pepperdine School of Law

The One-Hundredth Anniversary Of The Federal Estate Tax: It’S Time To Renew Our Vows, Paul L. Caron

Boston College Law Review

The approaching one-hundredth anniversary of the federal estate tax is an opportune time to revisit its historical origins, its role in our government and society through the years, and its current and future place in our fiscal firmament. This Article argues that the reasons behind the enactment of the estate tax in 1916—to raise revenue during a time of war, enhance the progressivity of the tax system, and curb concentrations of wealth—are even more compelling in 2016. As a result, this Article argues that revitalization of the estate tax should be a central tax reform plank of the ...


What Do We Know About The Behavioral Effects Of The Estate Tax?, David Joulfaian 2016 The National Bureau of Economic Research

What Do We Know About The Behavioral Effects Of The Estate Tax?, David Joulfaian

Boston College Law Review

Few estates are subject to the estate tax, which accounts for only a small portion of federal revenues. Even so, those whose estates may be subject to the tax tend to have access to high-quality advice and to engage in long-term tax planning. Because of this, the presence of the estate tax has a broad impact on the economic activity of those who are likely to be subject to the tax (as well as those who stand to benefit from those estates). This Article explores some of the choices that those who are affected by the estate tax may face ...


“Death Tax” Politics, Michael J. Graetz 2016 Columbia Law School

“Death Tax” Politics, Michael J. Graetz

Boston College Law Review

In his Keynote Address “Death Tax” Politics at the October 2, 2015 Boston College Law School and American College of Trust and Estate Counsel Symposium, The Centennial of the Estate and Gift Tax: Perspectives and Recommendations, Michael Graetz describes the fight over the repeal of the estate tax and its current diminished state. Graetz argues that the political battle over the repeal of the estate tax reflects a fundamental challenge to our nation’s progressive tax system. This Address concludes that a revitalized estate tax is important for managing the national debt and reducing massive inequalities in wealth.


Valuation, Values, Norms: Proposals For Estate And Gift Tax Reform, Bridget J. Crawford 2016 Pace University Elisabeth Haub School of Law

Valuation, Values, Norms: Proposals For Estate And Gift Tax Reform, Bridget J. Crawford

Boston College Law Review

In their contributions to this Symposium, Professor Joseph Dodge, Professor Wendy Gerzog, and Professor Kerry Ryan offer concrete proposals for improving the existing estate and gift tax system. Professor Dodge and Professor Gerzog are especially interested in accuracy in valuation, and advance specific proposals with respect to split-interest transfers and family limited partnerships. Professor Dodge makes an additional proposal to improve the generation-skipping transfer tax system, an understudied area of the law. Professor Gerzog’s Symposium contribution draws particular attention to the legal fiction on which the estate and gift tax marital deductions rely. She would restrict the availability of ...


Marital Sharing Of Transfer Tax Exemptions, Kerry A. Ryan 2016 Saint Louis University School of Law

Marital Sharing Of Transfer Tax Exemptions, Kerry A. Ryan

Boston College Law Review

This Article analyzes portability and its antecedents in order to distill a positive account of marital sharing of transfer tax exemption amounts. Prior to 2010, the estate and gift tax exemption equivalent was a non-transferable, separate tax attribute of each spouse. A spouse could only access his or her spouse’s effective exemption by shifting property into the other spouse’s tax base. With the enactment of portability, Congress decoupled tax-free availability of a spouse’s unified credit from the necessity of a prior intra-spousal transfer. All that is required is an election by the decedent spouse, via the executor ...


Toward A Reality-Based Estate Tax, Wendy C. Gerzog 2016 University of Baltimore School of Law

Toward A Reality-Based Estate Tax, Wendy C. Gerzog

Boston College Law Review

Currently, the estate tax does not accurately value the property and transactions that it is meant to cover. Additionally, the marital and charitable deductions do not reflect actual associated transfers, instead skewing their benefits away from their purported beneficiaries. This Article proposes reforming the estate tax by eliminating these sources of unreality and distortion, and to make the current estate tax a reality-based tax. Through six specific proposals, the Article identifies solutions to the problems associated with testamentary transfers, puts forth alternative methods of valuation to prevent gaming of transfer taxes, and offers significant modifications to two deduction provisions.


Three Whacks At Wealth Transfer Tax Reform: Retained-Interest Transfers, Generation-Skipping Trusts, And Flp Valuation Discounts, Joseph M. Dodge 2016 Florida State University College of Law

Three Whacks At Wealth Transfer Tax Reform: Retained-Interest Transfers, Generation-Skipping Trusts, And Flp Valuation Discounts, Joseph M. Dodge

Boston College Law Review

This Article offers three sets of proposals to reform the existing federal wealth transfer tax system, the common theme being the link between the timing of the taxable transfer and valuation. Under the first set of proposals, transfers with retained interests would be taxed at the first to occur of the transferor’s death or the date the interest expired. In addition, the term “retained interest” would be broadly construed to encompass the power to revoke and the possibility of receiving income or corpus under another person’s power. The second set of proposals relates to the generation-skipping tax. To ...


Should We Tax The Gratuitous Transfer Of Wealth?: An Introduction, James R. Repetti 2016 Boston College Law School

Should We Tax The Gratuitous Transfer Of Wealth?: An Introduction, James R. Repetti

Boston College Law Review

The estate tax was enacted because of concerns about the impact of large concentrations of dynastic wealth on the political process. As discussed in this commentary, which reviews the Symposium articles by Paul Caron, David Joulfaian, and Jennifer Bird-Pollan, recent research by political scientists supports the legitimacy of these concerns. In addition, a significant body of studies suggests that inequality has a long-term negative impact on growth. Paul Caron observes in his article that progressivity in our tax system has been decreasing and that the estate tax was 60% or higher for fifty years (1934–1983), a rate much higher ...


Why Tax Wealth Transfers?: A Philosophical Analysis, Jennifer Bird-Pollan 2016 University of Kentucky College of Law

Why Tax Wealth Transfers?: A Philosophical Analysis, Jennifer Bird-Pollan

Boston College Law Review

The one-hundredth anniversary of the estate tax provides an ideal moment to reflect on the role of wealth transfer taxation in the larger scheme of the U.S. tax system. Wealth and income inequality are at historically high levels, and the responses to these issues are often reduced to a simplistic political dichotomy of “right” versus “left.” The multitude of views of the American people cannot be reduced to such simple generalities without losing important nuances. This Article identifies three general categories of political philosophical viewpoints that are commonly endorsed by both politicians and everyday Americans, and then examines the ...


Considering Alternatives: Are There Methods Other Than The Estate And Gift Tax That Could Better Address Problems Associated With Wealth Concentration?, Ray D. Madoff 2016 Boston College Law School

Considering Alternatives: Are There Methods Other Than The Estate And Gift Tax That Could Better Address Problems Associated With Wealth Concentration?, Ray D. Madoff

Boston College Law Review

This Commentary analyzes three articles generated from the Symposium “The Centennial of the Estate and Gift Tax: Perspectives and Recommendations,” held on October 2, 2015 at Boston College Law School. This Commentary explores the underlying purpose of the estate and gift tax: eliminating wealth inequality. It then considers the three articles’ proposed alternative tax systems—namely an accession tax and a wealth tax—that could more adequately address the problem of wealth concentration, and evaluates the merits of each.


Divide And Conquer: Using An Accessions Tax To Combat Dynastic Wealth Transfers, Miranda Perry Fleischer 2016 University of San Diego School of Law

Divide And Conquer: Using An Accessions Tax To Combat Dynastic Wealth Transfers, Miranda Perry Fleischer

Boston College Law Review

The current estate tax raises little revenue, yet is ill designed to further the social goals used to justify it. This Article takes one frequently mentioned goal—minimizing dynastic wealth transfers—and explores what insights focusing on that objective yields for the design of the transfer tax system. It starts from the premise that what renders dynastic wealth transfers problematic is that such transfers can bestow upon the recipient unearned political and economic power, which contravenes the democratic ideal that power should be earned, not inherited. Under this view, the tax system should be concerned with neither the build-up of ...


Alternatives To The Gift And Estate Tax, David G. Duff 2016 University of British Columbia Peter A. Allard School of Law

Alternatives To The Gift And Estate Tax, David G. Duff

Boston College Law Review

Following the near-death experience of the federal gift and estate tax in 2010, the hundredth anniversary of the tax represents an ideal moment to reflect on the role of this tax and whether an alternative approach might be more desirable and sustainable. This Article examines four prominent alternatives to the current tax: an annual wealth tax, taxing unrealized gains at death, including gifts and inheritances in income, and a lifetime accessions tax that would apply to the cumulative value of gifts and inheritances received by individuals over their lifetimes. In order to assess these alternatives, the Article reconsiders the reasons ...


Death Is Not The End: The Second Circuit Allows Posthumous Division Of Pension Benefits In Yale-New Haven Hospital V. Nicholls, Thanithia Billings 2016 Boston College Law School

Death Is Not The End: The Second Circuit Allows Posthumous Division Of Pension Benefits In Yale-New Haven Hospital V. Nicholls, Thanithia Billings

Boston College Law Review

On June 4, 2015, in Yale-New Haven Hospital v. Nicholls, the U.S. Court of Appeals for the Second Circuit held that the Employment Retirement Income Security Act of 1974 (“ERISA”) allows state courts to posthumously amend qualified domestic relations orders (“QDROs”) to divide the pension plan benefits of a deceased plan participant. The Second Circuit joined the U.S. Court of Appeals for the Tenth Circuit in allowing QDROs to be posthumously amended. The U.S. Court of Appeals for the Third Circuit, in contrast, has ruled that upon a plan participant’s death, benefits cannot be reassigned through ...


Arkansas’S Trust Code And Trust Planning: A Ten-Year Perspective, Lynn Foster 2016 University of Arkansas at Little Rock

Arkansas’S Trust Code And Trust Planning: A Ten-Year Perspective, Lynn Foster

University of Arkansas at Little Rock Law Review

In 2001, the Uniform Law Commission adopted the Uniform Trust Code, which regulates certain aspects of trusts. One impetus for the trust code was the ever-increasing popularity of revocable trusts as part of standard estate planning packages. Another was the fact that few states—including Arkansas—had well-developed common law trust rules, let alone any statutory trust codes. In 2005, the Arkansas legislature enacted a slightly modified version of the Uniform Trust Code (UTC), titled the Arkansas Trust Code (ATC). At that time, the University of Arkansas at Little Rock Law Review published my article summarizing the most important features ...


With All My Worldly Goods I Thee Endow: The Law And Statistics Of Dower And Curtesy In Arkansas, J. Cliff McKinney 2016 University of Arkansas at Little Rock William H. Bowen School of Law

With All My Worldly Goods I Thee Endow: The Law And Statistics Of Dower And Curtesy In Arkansas, J. Cliff Mckinney

University of Arkansas at Little Rock Law Review

No abstract provided.


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