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Full-Text Articles in Law
Trusts, Henry S. Barnes
Trusts, Henry S. Barnes
Mercer Law Review
The significant developments in the law of trusts during the year have been in the field of legislation. The 1950 session of the Legislature passed three bills: Act 5421 to exempt certain trust property from intangible taxes; Act 5432 to exempt the income derived from the same class of property from income taxes; and Act 7283 to prevent a trust from becoming executed so long as the trustee has active duties to perform.
Wills And Administration Of Estates, Floyd M. Buford, Robert E. Coll
Wills And Administration Of Estates, Floyd M. Buford, Robert E. Coll
Mercer Law Review
Definitions of a will are numerous and varied. The statutory definition is that "A will is the legal declaration of a person's intentions as to the disposition of his property after death." Obviously, a will is not a contract since it is unilateral. However, a contract to make a will in behalf of another or to include in a will a particular devise or legacy is valid if founded on a valuable consideration. Bowles v. White reaffirms this well recognized rule. The plaintiff in this case filed suit, as administrator, seeking to recover certain realty of the decedent. The defendant …
Some Trustees Are Amateurs, John Sherman Myers
Some Trustees Are Amateurs, John Sherman Myers
Mercer Law Review
There are many individuals w ho have undertaken to act in a fiduciary capacity, as trustee, executor, guardian or otherwise, without full realization that the obligations imposed upon them by law may result in substantial personal liability, even though every act has been in complete good faith and in an honest effort to perform, conscientiously and efficiently, the duties undertaken.