Law Commons^™

Wills--Devise Of Specific Portion Of Property Held In Contenancy, Richard Marion Alker

West Virginia Law Review

No abstract provided.

Federal Estate Tax-Determination Of Marital Deduction In Community Property State When Surviving Spouse Elects To Take Under Decedent's Will, Jon E. Denney

Michigan Law Review

Decedent, a Texas resident, provided that if his wife elected to take under his will she would receive one-third of the total community property and one-third of his separate estate. The remaining two-thirds of decedent's total estate was devised in trust for the benefit of his children. The widow elected to take under the will, thereby allowing her interest in the community property to pass as provided in the will. The executors claimed a marital deduction for the one-third separate property passing to the widow. Since she received less under the will than the value of her relinquished community property, …

Construction, Reformation, And The Rule Against Perpetuities, Olin L. Browder Jr.

Michigan Law Review

Not long ago, in all the commotion about the doctrine of wait-and-see, a different principle for dealing with the pitfalls in perpetuities law unobtrusively emerged. This was an adaptation of the principle of cy pres to require that provisions, void under the Rule Against Perpetuities, be reformed within the limits of that Rule so as to give effect as closely as possible to the intention of the donor.

Right Of A Surviving Partner To Purchase A Deceased Partner's Interest Under The Uniform Partnership Act, Charles R. Frederickson

Michigan Law Review

This discussion is intended to demonstrate that, under the act, the likelihood of fraud should no longer be so controlling a factor as to require invariably a liquidation sale of partnership assets when a court of equity has within its supervisory powers the ability to protect fully all of the parties involved when a partnership is dissolved by death.

Decedents' Estates And Trusts—Self-Dealing By Trustee’S Attorney Did Not Vitiate Real Estate Sale, George P. Doyle

Buffalo Law Review

Matter of Clarke, 12 N.Y.2d 183, 188 N.E.2d 128, 237 N.Y.S.2d 694 (1962).

Decedents' Estates And Trusts—Irrevocable Assignment Of Trust Income To Wife Not Violative Of Spendthrift Rules In Certain Cases, William Carnahan

Buffalo Law Review

In Matter of Knauth, 12 N.Y.2d, 259, 189 N.E.2d, 482, 238 N.Y.S.2d, 942 (1963).

Decedents' Estates And Trusts—Devolution Of A Lapsed Residuary Legacy: A Departure From The “No Residue Of A Residue" Rule, Josephine Y. King

Buffalo Law Review

Matter of the Estate of Dammann, 12 N.Y.2d 500, 191 N.E.2d 452, 240 N.Y.S.2d 968 (1963).

Wills—Testamentary Capacity—Insane Delusions, John S. Calvert

Washington Law Review

In re Meagher's Estate apparently establishes a new rule requiring that the contestant of a will on the ground of insane delusions must show that the delusion, exclusive of any rational motive, was the controlling cause in the disposition of the property.

Distribution Of Estates To Beneficiaries Behind The Iron Curtain, Bernard Freedman

Buffalo Law Review

In the Matter of Tybus, 28 Misc. 2d 278, 279, 217 N.Y.S.2d 913, 919 (Surr. Ct. 1961), citing 9 Polish Law Reg. or Journal (Feb. 19, 1951) containing decree of Feb. 3, 1947 (translated -in decree of Feb. 3, 1947, Title I, article 4 on file with U.S. Embassy in Warsaw).

Decedents' Estates, Trusts And Future Interests -- 1962 Tennessee Survey, Herman L. Trautman

Vanderbilt Law Review

I. DECEDENTS" ESTATES

A. Intestate Succession-Release of an Expectancy B. Wills C. Fiduciary Administration and Estate Planning

II. TRUSTS

A. Self-dealing-Purchase by Trustees of One Beneficiary's Interest

III. FUTURE INTERESTS

A. Alternative Gifts B. Class Gifts As in the past, the subject matter will be discussed under the headings indicated above. The developments of the year consist of court decisions only, as the Tennessee legislature was not in general session.

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.

Future Interests-Powers Of Disposition-Some Practical Considerations In Using Powers Of Disposition For Testamentary Purpose, Lawrence Ray Bishop S.Ed.

Michigan Law Review

Testators, in an effort to retain control of their property from beyond the grave, have often developed schemes by which they attempt to alter the normal devolution of title to, and the utilization of, that property by their beneficiaries. One of the primary motives giving rise to such schemes is the desire to give the immediate object of a testator's bounty a great deal of flexibility and control in the use of the testamentary property, while reserving to the testator the possibility of controlling its further disposition upon the death of such person. The most theoretically suitable device by which …

Taxation-Federal Estate Tax-Tax Consequences Of A Gift In Contemplation Of Death By A Joint Tenant Or A Tenant By The Entirety, Fredric L. Smith S.Ed.

Michigan Law Review

This comment will examine the foregoing problem in light of several recent cases which have cast doubt on the presently conceived relationship between section 2035 and section 2040.

Bankruptcy-Proof And Allowance Of Claims-Reopening Of Estate To Allow Creditors To Reach Tenancy By The Entirety, Robert V. Seymour

Michigan Law Review

Husband (H) and wife (W) executed joint, unsecured promissory notes to each of two creditors, a realty company, and a bank. H, in default on both notes, filed a voluntary petition in bankruptcy. The petition listed both noteholders as creditors; in addition, the schedule of assets noted that an interest in an estate by the entirety held by the bankrupt was not an asset of the bankrupt estate, since under state law it was not subject to the claims of creditors of only one spouse. After the first meeting of creditors, an order of discharge …

Inequities In Corporate Payments To Widows

Indiana Law Journal

No abstract provided.

Abstracts Of Recent Cases, Frank Thomas Graff Jr.

West Virginia Law Review

No abstract provided.

Wills--Rights Of An Adopted Child To Take As A Class Remainderman, Stephen Grant Young

West Virginia Law Review

No abstract provided.

Taxation-Federal Estate Tax-Application Of Section 2039 To Benefits Paid To Survivor Under A Deferred Compensation Plan, T. K. Carroll

Michigan Law Review

Upon decedent's death, his former employer made certain payments to the surviving widow under two voluntarily established benefit plans which were unfunded and non-qualified. The first of these arrangements, the death benefit plan, provided for three months' salary to be paid to an employee's widow, if the employee died before becoming eligible for retirement. The second, the deferred compensation plan, provided payment of a certain stated maximum to an employee's widow in sixty equal monthly installments. This was not a retirement program, however, since the employee himself would receive these payments if, and only if, he were ever to become …

Real Estate Investment Trusts And Tide Insurance, G. H. Mayes, Jr.

Washington and Lee Law Review

No abstract provided.

Virginia Law On Joint Bank Accounts

Washington and Lee Law Review

No abstract provided.

Distinction Between Construction And Interpretation Of Wills

Washington and Lee Law Review

No abstract provided.

Wills--Sequestration--Acceleration Of Life Interest Upon Renunciation Of Prior Interest, Daniel R. Elliott Jr.

Michigan Law Review

Testator made an inter vivos agreement in which he promised to bequeath to his son a certain portion of his estate. Upon testator's failure to comply with this agreement, the bequest actually given, a life interest in sixty percent of the estate, was renounced by the son, who instead elected to receive one million dollars from the estate in settlement of his claim. The will gave a remainder interest for life to the son of the renouncing legatee, testator's grandson. The ultimate remaindermen of the corpus of this part of the estate were two hospitals. In regard to the remaining …

Charitable Trusts And Inducements To Violate The Law

Washington and Lee Law Review

No abstract provided.

Appeal By A Court Appointed Fiduciary From An Order Of Discharge - Hundley V. Hundley, Allen L. Schwait

Maryland Law Review

No abstract provided.

Future Interests-Rule Against Perpetuities--Cy Pres Applied To Modify An Interest Violating The Rules, T. K. Carroll

Michigan Law Review

Testator's will created a trust for his grandchildren which was to terminate "when my youngest grandchild (whether now living or hereafter born) shall become twenty-five years of age." As it would be possible for the youngest grandchild to become twenty-five beyond the period permitted by the Rule Against Perpetuities, the chancellor held the class gift invalid. The state supreme court reversed, and ruled that since the trust allowed payment of income to the beneficiary as needed, the interests vested upon the death of the testator. On suggestion of error, held, overruled, judgment modified and corrected. The interests may be …

Estate Of Incompetent Liable For Torts Of Conservator - Filip V. Gagne, Jon Harlan Livezey

Maryland Law Review

No abstract provided.

Trust Administration - Principal And Income Act Applies Retroactively To Extraordinary But Not To Ordinary Stock Dividends, Thomas F. Schilpp

Villanova Law Review

No abstract provided.