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Taxation Of Trust Estates-Reservation Of Life Income
Taxation Of Trust Estates-Reservation Of Life Income
Michigan Law Review
Settlor executed a deed of trust, retaining a life income, but no power of revocation. Held, that the State of Connecticut could tax the transfer as a gift to take effect in possession or enjoyment at or after death without violating the federal constitution. Guaranty Trust Co. of New York v. Blodgett, (U.S. 1933) 53 Sup. Ct. 244.
Wills - Renunciation By The Beneficiary As Affecting The Rights Of His Creditors
Wills - Renunciation By The Beneficiary As Affecting The Rights Of His Creditors
Michigan Law Review
The testator devised to his son an undivided fourth interest in a certain piece of land. The creditors of the son levied on the land, and it was sold at an execution sale. After the execution sale the son formally renounced all his rights under the will. Held, that a beneficiary under a will has the right to renounce unconditionally all benefits derived from the will, and his creditors have no right to object. Lehr v. Switzer, (Iowa 1931) 239 N. W. 564.