Law Commons^™

Is A Will Better Than Intestacy?, Kristine S. Knaplund

University of Cincinnati Law Review

No abstract provided.

The New Undue Influence, David Horton, Reid K. Weisbord

Utah Law Review

The doctrine of undue influence has long been the problem child of inheritance law. Undue influence, a hazy combination of fraud and duress, supposedly invalidates bequests that a beneficiary obtained by overriding the volition of a vulnerable testator or settlor. But because relationships are complex, concepts like free will are slippery, and challenges to do native transfers are litigated after the owner dies, courts struggle to apply the rule. Making matters worse, fact finders exploit the principle’s vagueness to protect a decedent’s family at the expense of non-traditional relationships. As a result, scholars have criticized undue influence fordecades, with some …

A Good Death: End-Of-Life Lawyering Through A Relational Autonomy Lens, Genevieve Mann

Washington Law Review

Death is difficult—even for lawyers who counsel clients on end-of-life planning. The predominant approach to counseling clients about death relies too heavily on traditional notions of personal autonomy and a nearly impenetrable right to be free from interference by others. Rooted in these notions, contracts called “advance directives” emerged as the primary tool for choosing one’s final destiny. Nevertheless, advance directives are underutilized and ineffective because many people are mired in death anxiety, indecision, and the weight of planning for a hypothetical illness. In the end, many do not get the death they choose: to trust in others and share …

Intellectual Heirs Property: Why Certain Musical Copyrights Should Be Included In The Heirs Property Reform Movement, Austin Weatherly

Journal of Intellectual Property Law

The modern heirs property reform movement seeks to ameliorate the issues caused by the procedures governing the inheritance of real property from landowners who die intestate. This procedure can have a negative impact on heirs and the value of their inherited property. The reform movement, as it stands, only seeks to resolve the issues created by these procedures in the real property context. The rhetorical basis for the modern heirs property reform movement largely focuses on closing the racial wealth gap in the United States and slowing the wealth bleed from one black generation to the next. Many of the …

Making Directed Trusts Work: The Uniform Directed Trust Act, John D. Morley, Robert H. Sitkoff

ACTEC Law Journal

Directed trusts have become a familiar feature of trust practice in spite of considerable legal uncertainty about them. Fortunately, the Uniform Law Commission has just finished work on the Uniform Directed Trust Act (UDTA), a new uniform law that offers clear solutions to the many legal uncertainties surrounding directed trusts. This article offers an overview of the UDTA, with particular emphasis on four areas of practical innovation. The first is a careful allocation of fiduciary duties. The UDTA’s basic approach is to take the law of trusteeship and attach it to whichever person holds the powers of trusteeship, even if …

Max's Taxes: A Tax-Based Analysis Of Pet Trusts, Gerry W. Beyer, Jonathan P. Wilkerson

University of Richmond Law Review

No abstract provided.

Less Trust Means More Trusts, Bridget J. Crawford

Washington and Lee Law Review Online

The word “trust” has multiple meanings. In everyday speech, it refers to a feeling of confidence associated with integrity, such as trusting that a friend will keep a secret. In the financial context, some law students, lawyers and lucky individuals also understand that a trust is a near-magical device that splits legal and equitable title. A trustee holds formal legal title to property for the benefit of a beneficiary simply because the grantor declares it to be so. By turning the spotlight on “trust,” in both senses of the word, one can discern fault lines in contemporary U.S. political and …

Wills, Trusts, And Estates, J. William Gray Jr., Katherine E. Ramsey

University of Richmond Law Review

The Supreme Court of Virginia has handed down seven recent

decisions addressing the authority of an agent to change the principal's

estate plan, legal malpractice claims in estate planning,

rights of incapacitated adults, limits of the constructive trust doctrine,

effects of a reversionary clause in a deed, ownership of an

engagement ring, and proof of undue influence. The 2017 Virginia

General Assembly clarified rules on legal malpractice and tenancies

by the entireties, adopted the Uniform Trust Decanting Act

and the Uniform Fiduciary Access to Digital Assets Act, and expanded

provisions governing estate administration, life insurance,

and advance medical directives. Other …

In States We "Trust": Self-Settled Trusts, Public Policy, And Interstate Federalism, Brendan Duffy

Northwestern University Law Review

Over the last twenty years, domestic asset protection trusts have risen in popularity as a means of estate planning and asset protection. A domestic asset protection trust is an irrevocable trust formed under state law which enables an independent trustee to allocate money to a class of

persons, which includes the settlor.

Since Alaska first enacted domestic asset protection legislation in 1997, fifteen states have followed its lead. The case law over the last twenty years addressing these trust mechanisms has, however, been surprisingly sparse. A Washington bankruptcy court decision, In re Huber, altered this drought, but caused more confusion …

Foreclosure Of A Deed Of Trust In Virginia, Doug Rendleman

University of Richmond Law Review

This article deals with foreclosure of a deed of trust in Virginia.

The Introduction discusses the deed of trust or mortgage as a social

and political institution and the foreclosure crisis that seems

to be ending. Part I is a brief history of mortgage law. It provides

a short history of the modern mortgage system in the United

States. Part II follows with a description of the approach that

Virginia takes to mortgages. It localizes the mortgage institution

to Virginia and introduces Virginia's vocabulary and technical details,

the deed of trust, and the parties' rights and obligations.

Part III provides …

Wills, Trusts, And Estates, J. William Gray Jr., Katherine E. Ramsey

University of Richmond Law Review

No abstract provided.

Principles Of Contract Law Applied To Entertainment And Sports Contracts: A Model For Balancing The Rights Of The Industry With Protecting The Interests Of Minors, John H. Shannon, Richard J. Hunter Jr.

Loyola of Los Angeles Law Review

This Article discusses the context of common law and statutory materials dealing with minors who participate in the entertainment and sports fields. The Article describes the changes undertaken as a result of several notorious cases involving prominent child actors, and how the California legislature dealt with issues ranging from set asides of income, approval of contracts by a competent court of jurisdiction, recognition of the legitimate interests of all parties to the contract, to principles under which a minor would be precluded from disaffirming a contract. The Article then applies and extends the principles developed in entertainment contracts to minors …

Wills, Trusts, And Estates, J. William Gray Jr., Katherine E. Ramsey

University of Richmond Law Review

No abstract provided.

Crummey Trusts: An Exploitation Of The Annual Exclusion, Dora Arash

Pepperdine Law Review

No abstract provided.

Wills, Trusts, And Estates, J. William Gray Jr., Katherine E. Ramsey

University of Richmond Law Review

The 2011 session of the Virginia General Assembly enacted wills, trusts, and estates legislation that: (i) eliminated a potential federal transfer tax trap in inter vivos marital trusts, (ii) interpreted transfer tax formula clauses in light of recent changes in federal law, and (iii) adopted the Uniform Adult Guardianship and Protective Proceedings Jurisdiction Act. Three other legislative enactments and seven opinions of the Supreme Court of Virginia during the twelve months ending June 1, 2011, addressed issues affecting this field. In addition to addressing those developments, this article summarizes a recent federal district court opinion that dealt with a significant …

Wills, Trusts, And Estates, J. Rodney Johnson

University of Richmond Law Review

The 2010 Session of the General Assembly enacted wills, trusts, and estates legislation (i) adopting the Uniform Power ofAttorney Act, (ii) passing emergency legislation for the construction of tax-oriented wills and trusts of persons who die during 2010 with documents drafted prior thereto, (iii) revising the small-estate statutes, and (iv) clarifying the burial power of attorney. In addition, there were six other enactments, and seven opinions from the Supreme Court of Virginia during the one-year period ending June 1, 2010 that present issues of interest in thisarea. This article reports on all of these legislative and judicial developments, along with …

Managing Assets: The Oklahoma Uniform Principal And Income Act, Mark R. Gillett, Katheleen R. Guzman

Oklahoma Law Review

No abstract provided.

Property Rights Of Unmarried Cohabitants In New York: Proposal For Legislative Action Towards A More Equitable Future, Helene Kulczycki

Touro Law Review

No abstract provided.

A Proposal For A Variation Of Trusts Statute In Washington, Julie A. Anderson

Seattle University Law Review

This Comment argues that similar legislation would be desirable in Washington. Even though the proposed statute would entail a substantial deviation from the common-law rule, the resulting benefits justify the change. This Comment also examines the retroactive application of variation of trusts statutes and concludes that a retroactive application is constitutional. A requirement that courts consent on behalf of the beneficiaries only when the variation benefits the beneficiaries in some manners sufficiently protects the beneficiaries' constitutional interests under the contract clause10 and the due process clause of the federal Constitution. Finally, this Comment proposes that a Washington variation of trusts …

The Winds Of Change In Wills, Trusts, And Estate Planning Law, The Editor

Vanderbilt Law Review

The articles in this Symposium illustrate three different aspects of change. The essay by Professor Fellows provides an analysis and criticism of one very important change, the trend toward the use of a legislative rather than judicial forum to create new law. In the second article, Professor Rein discusses adoption and proposes a mechanism by which the laws of succession can be modernized better to reflect the social phenomenon of adoption,whether of children or adults, legal or equitable. Professor Miller and Mr. Rainey in their article examine the premises that have prompted the increasing use of a revocable trust rather …

Inheritance, The Share Of The Surviving Spouse, And Wills: Arkansas Law And The Uniform Probate Code Compared, Ellen B. Brantley, Richard W. Effland

University of Arkansas at Little Rock Law Review

No abstract provided.

Principal And Income Allocation Of Stock Distributions--The Six Per Cent Rule, Michael C. Devine

Michigan Law Review

A productive trust is usually dynamic in two ways: the principal assets appreciate in value, and their use produces income. When the beneficial interests in such a trust are successively divided between income recipients and principal remaindermen, every payment to the trust must be characterized either as income or as an addition to principal. The most difficult categorization problems arise when the receipt is of corporate stock.

Trusts-Trustees-Investment Duties Of Trustees And The Problem Of Unduly-Conservative Trust Investments, Lawrence Hirsch S.Ed.

Michigan Law Review

This comment will first examine the trustee's investment duties, particularly those relating to investments in securities, and then consider the factors which have brought to the fore the problem of the unduly-conservative trust investment. On the basis of this examination, it may be determined whether the present law in this area provides the beneficiary with adequate safeguards against the unduly-conservative investment. Finally, assuming such safeguards have not been provided, some suggested remedies for this situation will be considered, including the possible imposition of a duty upon trustees to invest at least part of the trust funds in common stock.

Taxation-Federal Estate Tax-The Construction Of Section 2036, William S. Bach S .Ed.

Michigan Law Review

This comment will explore two problems: first, an analysis of the legislative history of the present section 2036 in an effort to discover exactly which property relationships Congress intended to reach by this provision; second, an examination of the treatment which several specific arrangements have been given by the courts to determine whether there is any degree of certainty or predictability in the application of section 2036.

Creation Of A Trust On Insurance Proceeds By The Use Of Precatory Expressions In A Testamentary Instrument - Waesche V. Rizzuto, Daniel F. Thomas

Maryland Law Review

No abstract provided.

Chancery Practice On The American Frontier: A Study Of The Records Of The Supreme Court Of Michigan Territory, 1805-1836, William Wirt Blume

Michigan Law Review

The act of Congress of January 11, 1805, which created Michigan Territory out of Indiana Territory, provided that the new territory should have a government "in all respects similar" to that provided for the Northwest Territory by the Ordinance of 1787. The Ordinance had provided for the appointment of a court to consist of three judges who should have "a common law jurisdiction. "

Trusts - Principal And Income - Apportionment Under Pennsylvania Rule Of Stock Dividends Based On Capital Surplus, James H. Devries

Michigan Law Review

Under the terms of a trust established in New York in 1915 income was to be paid to a beneficiary for life and upon his death the principal was to be distributed to certain descendants of the settlor. Two extraordinary stock distributions were received by the trust during the life of the income beneficiary. In issuing the additional shares each of the corporations had transferred to capital stock account its entire capital surplus and sufficient earned surplus to support the additional shares at their par value. At the time of creation of the trust New York applied the Pennsylvania rule …

The Apportionment Of Stock Distributions In Trust Accounting Practice, Arthur W. Machen Jr.

Maryland Law Review

No abstract provided.

Taxation - Federal Estate Tax - Insurance And Annuity Combinations, John B. Schwemm S.Ed.

Michigan Law Review

Decedent, aged seventy-six, invested in three single premium life insurance policies. Issuance of each was conditioned on the purchase of a single life, nonrefundable annuity of specified value, and no physical examination was required. Each combination was balanced so that the total premium, exclusive of loading charges, equalled the face value of the insurance. The resulting correlation between compound interest and annuity disbursements made the guaranteed payments to the annuitant correspond precisely with the expected income of a reinvestment of the entire deposit by the insurer. Decedent retained the annuity rights, but all present and future interests in the life …

Scott: The Law Of Trusts (Second Edition)., Lewis M. Simes

Michigan Law Review

A Review of The Law of Trusts (second edition). By Austin Wakeman Scott