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Articles 1 - 30 of 61
Full-Text Articles in Law
Book Notes, Law Review Staff
Book Notes, Law Review Staff
Vanderbilt Law Review
BOOK NOTES
The Law of Trusts
By Ralph A. Newman
Brooklyn: The Foundation Press, Inc., 1949. Pp. xi, 452. $4.50
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Estate Planning
By Joseph Trachtman
New York: Practicing Law Institute. 1949 Edition. Paper bound. Pp. i, 170. $2.00
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BOOKS RECEIVED
The Case of General Yamashita
By A. Frank Reel
Chicago: University of Chicago Press, 1949. Pp. v, 324. $4.00
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Cases and Materials on Commercial Law
By Hugh W. Babb and Carl B. Everberg
Brooklyn: The Foundation Press, Inc., 1949. Pp. iii, 963. $6.00
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Cases and Materials on Law and Accounting
By Donald Schapiro and Ralph Wienshienk …
Trusts-Addition To Corpus By Will-Nature Of Bequest, Robert H. Frick
Trusts-Addition To Corpus By Will-Nature Of Bequest, Robert H. Frick
Michigan Law Review
Testator created an amendable inter vivos trust which he amended in 1938, 1940, and 1942. By a codicil to his will, executed in 1945, he left his residuary estate to the trustees of the inter vivos trust to be held according to the terms of that trust as amended. On certification from the probate court, held, the bequest to the trustees was valid, and it was not necessary for the trustees to give bond and account to the probate court as required of trustees of testamentary trusts by statute. In re York's Estate, (N. H. 1949) 65 A. …
Wills--Time For Contest--Admission To Probate Of Non-Testamentary Instrument, E. G. R.
Wills--Time For Contest--Admission To Probate Of Non-Testamentary Instrument, E. G. R.
West Virginia Law Review
No abstract provided.
Recent Cases, Law Review Staff
Recent Cases, Law Review Staff
Vanderbilt Law Review
Recent Cases
Bills and Notes--Fictitious Payee Known only to Fraudulent Employee of Drawer--Negotiable Instruments Law v. Fictitious Payee Act
Constitutional Law--Amendment and Revision--Power to Call Constitutional Convention Limited to Consideration of Specific Topics
Constitutional Law--Interstate Commerce--Dental of License to Ship Milk Held Invalid
Constitutional Law--Separation of Powers--Legislative Control over Admission to the Bar
Contracts--Recited Cash Consideration--Effect of Non-payment
Contracts--Statute of Frauds--Letterhead as a Signature
Criminal Procedure--Communication between Judge and Jury--Effect of Inquiry as to Pronounced Majority
Criminal Procedure--Constitutional Right to Public Trial--Power of Court to Order Courtroom Cleared of Spectators
Estates--Disability of Life Tenant to Purchase Tax Title to Exclusion …
Wills-An Exception To The Pennsylvania Mortmain Statute, Robert H. Frick
Wills-An Exception To The Pennsylvania Mortmain Statute, Robert H. Frick
Michigan Law Review
Testatrix and her husband entered into an agreement that the survivor should devise property owned by them as tenants by the entireties to charities of the Catholic Church. Ten years later, testatrix, who had survived her husband, executed a will in accordance with the agreement, and died within thirty days thereafter. The lower court held that the bequest was not invalid under the Pennsylvania statute voiding religious or charitable bequests made within thirty days of death. On appeal, held, affirmed. Where a valid contract to make a will antedates the testator's death by more than the statutory period, the …
Future Interests-Rule Against Perpetuities-Application To Duration Of Private Trusts, R. L. Storms
Future Interests-Rule Against Perpetuities-Application To Duration Of Private Trusts, R. L. Storms
Michigan Law Review
Testator devised the locus to his daughter, V, in fee. Thereafter he executed a codicil whereby the property passed to his son-in-law, in trust, to take possession of the real estate and hold it in trust for V during her life, and "in the event of the death of my daughter . . . rent the same . . . and the said rents so received . . . he shall use for the support, sustenance, education, and benefit of the children of my daughter . . . surviving her." Held: the trust the testator attempted to create …
Trusts-Power To Revoke Through Unrestricted Power To Amend, Alan P. Goldstein S.Ed.
Trusts-Power To Revoke Through Unrestricted Power To Amend, Alan P. Goldstein S.Ed.
Michigan Law Review
Plaintiff and defendant were the settlors and trustees of a twenty year trust created in 1945. Their wives were the beneficiaries. The settlors retained the unrestricted power to amend the trust, but reserved no power to revoke. In October, 1945 the trust was amended, giving to either trustee the power to terminate the trust at any time, upon notice to the other trustee. In 1947, plaintiff gave notice of revocation to the defendant, and when this notice was ignored, plaintiff petitioned for a decree of termination. A demurrer was sustained, and plaintiff appealed. Held, reversed. ''If the power to …
Wills-Advancements-Joint Bank Deposit As Advancement To Child, James F. Gordy S.Ed.
Wills-Advancements-Joint Bank Deposit As Advancement To Child, James F. Gordy S.Ed.
Michigan Law Review
Decedent opened a joint bank account in the name of himself and his daughter. Only two deposits were made, both by him, and solely from his funds. Decedent died intestate before any withdrawals had been made. The administratrix of his estate contended that the funds remaining in the joint bank account constituted an advancement to the daughter, and sought to have them brought into hotchpot in determining the distributive shares of the other heirs. A Colorado statute provided, inter alia, that when such a joint deposit is made, it may be paid to any one· of the joint depositors whether …
Future Interests-Contingent Construction Of Remainder Gift To Charity, Charles D. Bell S.Ed.
Future Interests-Contingent Construction Of Remainder Gift To Charity, Charles D. Bell S.Ed.
Michigan Law Review
Testator left property in trust to use the income, and such portions of principal as might be necessary, for the support, maintenance and education of his granddaughter during her life. Upon the death of the life tenant, the trustee was directed "to pay unto the Methodist Protestant University of Kansas City, Kansas, all the unexpended principal and interest thereof, if any, to have and to hold the same forever.'' Subsequent to the testator's death in 1904, but prior to the death of the life tenant, the remainderman assigned its interest to appellant's assignor, and then went out of existence. In …
Future Interests-Creation Of A Power By Exercise Of General Testamentary Power Held Valid, William R. Hewitt S.Ed.
Future Interests-Creation Of A Power By Exercise Of General Testamentary Power Held Valid, William R. Hewitt S.Ed.
Michigan Law Review
H in his will created a trust which provided for a life estate for his wife W. The trustee was directed to distribute the corpus of this trust after W's death "to such person or persons as she [W] may limit, nominate, and appoint by her last will and testament." At her death, W's will provided that part of the property over which she had a power of appointment was to continue in trust for S for life, with the power in S to dispose of the corpus absolutely by her last will. S, …
Torts-Liability Of Decedent's Estate For Libel Contained In Will And Published Only By Probate Of Will
Washington and Lee Law Review
No abstract provided.
The Family Land Trust Treated As An Association For Federal Income Taxation, Carter Glass, Iii
The Family Land Trust Treated As An Association For Federal Income Taxation, Carter Glass, Iii
Washington and Lee Law Review
No abstract provided.
Domestic Relations-Liability Of Estate Of Deceased Husband For Support Of Children Under Divorce Decree
Washington and Lee Law Review
No abstract provided.
The Function Of The Lawyer In Estate Planning, Charles I. Stone
The Function Of The Lawyer In Estate Planning, Charles I. Stone
Washington Law Review
Inflation and an unprecedented increase in employment and national income have multiplied the number of individuals having at least a modest net worth and therefore the groundwork for an estate. Our staggering national debt has been accompanied by an expanding and intricate pattern of taxation winch takes increasingly more from an increasingly greater group. From the individual's point of view, the only interruption in this trend has been the Revenue Act of 1948. It is probable, if not certain, that the future will bring greater tax demands. The many who have recently acquired actual or potential estates are finding themselves …
The Function Of The Corporate Trustee In The Planning Of Estates, Henry H. Judson
The Function Of The Corporate Trustee In The Planning Of Estates, Henry H. Judson
Washington Law Review
With the advent of diversified types of wealth, the increasing complexities of the economic structure, development of legal devices and statutory enactments, changing trends and theories of governmental emphasis on the social fabric through the power of taxation, estate plannmg has become a complex and involved problem, meriting the most careful consideration and best advice obtainable. The basic purpose of any plan for an individual's estate is to provide for the economic settlement of the estate and for its orderly and practical distribution in a manner commensurate with the personal requirements and economic needs of the beneficiaries. There can be …
Participation By The Certified Public Accountant In Estate Planning, John G. Larson
Participation By The Certified Public Accountant In Estate Planning, John G. Larson
Washington Law Review
Since estate taxes and administration costs do not weigh heavily on smaller estates, the accountant generally will not be concerned with planning for persons whose estates consist primarily of life insurance or with community estates of husband and wife with a value under $120,000. It would be appropriate, however, even in those cases, to inquire whether wills have been prepared, how recently, the plan of disposition, and whether the insurance program has been co-ordinated with the testamentary disposition. It is desirable that the clients of every accountant be made more conscious of the importance of estate planning.
The Role Of The Advanced Life Underwriter In The Field Of Estate Planning, Sanford M. Bernbaum
The Role Of The Advanced Life Underwriter In The Field Of Estate Planning, Sanford M. Bernbaum
Washington Law Review
Estate planning is a continuing process, never completed, always subject to review and change to reflect altered personal, family, legal, or economic circumstances. The estate plan is fluid and affected by many factors, including the daily business and investment operations of the estate owner. Many kinds of specialized knowledge and experience must be utilized in its original formulation and brought to bear upon a periodic review The professional status of the lawyer, certified public accountant, and trust officer of a recognized bank has been established for many years. Each designation carries with it considerable prestige. In recent years another professional …
Transfers Intended To Take Effect At Or After Death
Transfers Intended To Take Effect At Or After Death
Indiana Law Journal
Recent Cases: Taxation
The Drafting And Revision Of Wills And Trust Instruments Under The Revenue Act Of 1948, H. D. Battle
The Drafting And Revision Of Wills And Trust Instruments Under The Revenue Act Of 1948, H. D. Battle
West Virginia Law Review
No abstract provided.
Equity-Power To Rescind Conveyance For Fraud-Survival, Stephen A. Bryant
Equity-Power To Rescind Conveyance For Fraud-Survival, Stephen A. Bryant
Michigan Law Review
Defendants obtained a deed from plaintiffs' testator shortly before he died. Plaintiffs, his residuary devisees, filed a bill seeking cancellation of the deed, alleging that it was procured by undue influence. Defendants demurred on the ground that undue influence is a species of fraud and the power to rescind a conveyance for fraud does not survive the grantor's death. The demurrer was overruled. On appeal, held, affirmed. The power to rescind was not extinguished by the grantor's death. Glojek v. Glojek, (Wis. 1948) 35 N.W. (2d) 203.
Future Interests-Effect Of Limited Power Of Revocation In Determining Validity Of Inter Vivos Trust Under Rule Against Perpetuities, Andrew W. Lockton, Iii S.Ed.
Future Interests-Effect Of Limited Power Of Revocation In Determining Validity Of Inter Vivos Trust Under Rule Against Perpetuities, Andrew W. Lockton, Iii S.Ed.
Michigan Law Review
Settlor created an inter vivos trust, reserving to himself the income for life plus an absolute, non-cumulative right to withdraw sums not in excess of $1500 per year. The trust was otherwise irrevocable. Measured from the date of the inter vivos transaction, some of the limitations clearly violated the rule against perpetuities; measured from the date of settlor' s death, all limitations would be valid. The trust fund, some twenty years after its creation, amounted to about $32,000. Held, the crucial date was that of creation. Ryan v. Ward, (Md. 1949) 64 A.(2d) 258.
Future Interests-Rule As To Remoteness Of Vesting In California, Howard W. Haftel S. Ed.
Future Interests-Rule As To Remoteness Of Vesting In California, Howard W. Haftel S. Ed.
Michigan Law Review
T devised the income of a trust to his unmarried daughter for life. If at her death there were living issue of the daughter, the income was to be distributed to such issue until 24 years after T's death. The trust was then to terminate, unless issue, who had been living at T's death, should survive the 24-year period, in which event the income was to continue to be distributed until the death of such issue. It was further provided, "if my said daughter survives me, but at the time of her death leaves no issue of hers …
Coming Into Equity With Clean Hands, Zechariah Chafee, Jr.
Coming Into Equity With Clean Hands, Zechariah Chafee, Jr.
Michigan Law Review
The most amusing maxim of equity is "He who comes into Equity must come with clean hands." It has given rise ,to many interesting cases and poor jokes. The maxim has been regarded as an especially significant manifestation of the ethical attitude of equity as contrasted with the common law. Pomeroy, for instance, argues that the principle involved in this maxim is "merely the expression of one of the elementary and fundamental conceptions of equity jurisprudence." Pomeroy's theory is that chancery has power to force a defendant to comply with the dictates of conscience as to matters outside the strict …
Trustor As Sole Trustee And Only Ascertainable Beneficiary, William F. Fratche
Trustor As Sole Trustee And Only Ascertainable Beneficiary, William F. Fratche
Michigan Law Review
The Circuit Court of Appeals for the Eighth Circuit, one judge dissenting, affirmed a decision of the Board of Tax Appeals holding that a profit arising from sale of the stock was taxable to the settlor individually because the declaration did not create a trust. The majority opinion argued that, although a trust may be created solely for the benefit of unborn or unascertained beneficiaries by a transfer to a third party as trustee, it cannot be done by a declaration of trust. The opinion suggested that a transfer in trust for unborn or unascertained beneficiaries creates only a resulting …
Adoption - Right Of Inheritance In Absence Of Legal Adoption-Specific Performance Of Contract To Adopt And Other Remedies, James C. Mordy
Adoption - Right Of Inheritance In Absence Of Legal Adoption-Specific Performance Of Contract To Adopt And Other Remedies, James C. Mordy
Michigan Law Review
Adoption was unknown at common law. Modern statutes permitting adoption are largely derived from Roman ideas, which were introduced into this country first through the civil law of Louisiana and later by statutes, beginning with Massachusetts in 1851.
Under the English common law, the only persons capable of inheriting property were blood relations of the deceased. On the other hand, most modern adoption statutes permit inheritance by adopted children equally with natural children. Adoption being purely statutory, the early cases denied the right of inheritance by supposedly adopted children when the statute was not strictly followed. Though still purporting to …
Descent And Distribution - Widow's Statutory Share - Widow Allowed To Elect Against Husband's Inter Vivos Trust Of Promise Under Seal, David H. Armstrong S. Ed.
Descent And Distribution - Widow's Statutory Share - Widow Allowed To Elect Against Husband's Inter Vivos Trust Of Promise Under Seal, David H. Armstrong S. Ed.
Michigan Law Review
Eleven years before his death, H executed his bond under seal for $20,000 payable one year after his death. He delivered the bond to a trustee to hold upon an irrevocable trust to collect and pay the proceeds to named beneficiaries. Upon H's death with a personal estate approximately equal to the amount of the bond, his widow elected to claim her statutory share in the estate, alleging that the bond was invalid. The trustee filed a bill alleging that the trust was sufficient to bar the widow, and the widow demurred. The demurrer was overruled by the trial …
Future Interests-Worthier Title Doctrine, David H. Armstrong S. Ed.
Future Interests-Worthier Title Doctrine, David H. Armstrong S. Ed.
Michigan Law Review
Plaintiff created an irrevocable trust of $75,000, reserving the income to himself for life and directing distribution of the corpus upon his death to his heirs according to the California laws of succession in existence at his death. Later he sued to terminate the trust on the theory that since the worthier title doctrine prevented creation of a remainder in his heirs, he was sole beneficiary. The intermediate California appellate court held that the worthier title doctrine was inapplicable because of a California statute changing the word "heirs" from one of limitation to one of purchase. Therefore, the outstanding remainder …
Taxation-Federal Estate Tax-Charitable Deduction-Certainity Of Amount Of Gift In Remainder To Charity When Corpus May Be Invaded For Life Tenant, Frank L. Adamson S. Ed.
Taxation-Federal Estate Tax-Charitable Deduction-Certainity Of Amount Of Gift In Remainder To Charity When Corpus May Be Invaded For Life Tenant, Frank L. Adamson S. Ed.
Michigan Law Review
Testator left his estate in trust for the life of his mother, giving her a life income of $750 per month. The trustees were authorized to use the rest of the income and the principal for her "pleasure, comfort and welfare" and were instructed to care and provide for her as she might desire. A deduction for a gift to charity of a portion of the remainder was disallowed by the commissioner. The executor sued to recover the tax paid, alleging that the annual income from the estate exceeded the mother's fixed share by $6000, that she had independent investments, …
Future Interests - Powers-Fraud On A Special Power, Bernard L. Trott S. Ed.
Future Interests - Powers-Fraud On A Special Power, Bernard L. Trott S. Ed.
Michigan Law Review
H was co-trustee under a trust agreement executed by his father which provided for payment of a specified monthly sum to H for life and after his death to his wife W. The trust was to terminate upon the death of the survivor of H and W, and thereupon the other trustee was to deliver 20% of the corpus to each of three named persons, A, B, and C. The trust instrument further provided that H was to have absolute power, with approval of the co-trustee, to prescribe that the distribution of this 60% of the …
Wills-Publication Of Will And Acknowledgment Of Signature, Robert W. Shadd
Wills-Publication Of Will And Acknowledgment Of Signature, Robert W. Shadd
Michigan Law Review
Testatrix telephoned two friends, asking them to come to her home and witness her will. When they arrived, the document was lying on a table in testatrix' presence, and she declared, "Here is the pen, sign it." Both witnesses were positive testatrix did not sign in their presence. The evidence, while not conclusive, also tended to show that neither witness saw the signature, testatrix having signed on page seven while the document was opened to the attestation clause on page eight. The superior court admitted the will to probate over appellant's objection that testatrix had failed to meet the statutory …