Law Commons^™

Republicanism And The Law Of Inheritance In The American Revolutionary Era, Stanley N. Katz

Michigan Law Review

This Article deals with the history of the law of inheritance during the era of the American Revolution, but its focus is actually more general, for it ultimately seeks to determine what sort of revolution we experienced. For the historian the problem is quite familiar, but a few observations seem pertinent. It is at least possible to argue that our colonial forefathers were not waging a revolution at all. Rather, one might say they were fighting what we should now call a colonial war of independence in which the overriding issue was "home rule." On this hypothesis, the main slogan …

Guidry V. Pinellas Central Bank And Trust Co., 310 So. 2d 386 (Fla. 2d Dist. Ct. App. 1975), Carol E. Gilmore

Florida State University Law Review

Wills and Trusts- TRUST INSTRUMENT PROVIDING FOR PAYMENT OF ESTATE TAXES IS INSUFFICIENT TO AVOID APPLICATION OF FLORIDA APPORTIONMENT STATUTE, ABSENT EXPRESS PROVISION IN TESTATOR'S WILL.

Estate Planning And Administration, Robert S. Hightower

Florida State University Law Review

By William C. Clay, Jr., Indianapolis, Indiana: The Research & Review Service of America, Inc. 1977. Pp. xi, 298. $19.95.

The Optimum Marital Deduction Survives The Tax Reform Act, J. Rodney Johnson

Law Faculty Publications

Several years ago an article appeared in the pages of this journal which suggested that those attorneys who regularly focused on obtaining the maximum marital deduction in the wills they were drafting for their clients might be suffering from a form of estate planner's myopia. That is, they were losing sight of their ultimate goal of minimizing the total estate tax burden imposed on the husband's assets as they pass from him, through the wife, on to the ultimate beneficiaries. The danger foreseen was that, as an attorney employed one of the various formula clauses designed to obtain every possible …

Current Problems Facing The Executor Taking The Section 2053 Estate Tax Deduction, Jay D. Christiansen

Vanderbilt Law Review

Section 2053 of the Internal Revenue Code allows the executor to deduct from the gross estate amounts attributable to expenses, indebtedness, and taxes. This Note will examine problems currently confronting an executor who is attempting to utilize the 2053 deduction. The first problem examined in this Note is the conflict in the federal courts of appeals regarding the deductibility of expenses incurred as a result of a sale of decedent's property. The statute,cases, and regulations in this area will be examined, and a suggested approach for the executor encountering this problem will be provided. The second problem considered is the …

Giving Or Leaving--What Is A Will?, Olin L. Browder

Michigan Law Review

The question raised by the title of this essay should be essentially as simple as that: Do you want to give property, so that, having given it, it is no longer yours, or do you want to leave it behind at your death, directing who will receive it at that time? The statement of that issue suggests obvious differences in the consequences of inter vivos and testamentary dispositions. Most people also understand that a testamentary disposition invokes the elaborate machinery involved in the administration of a testator's estate, which confers special rights in the creditors and the spouse of the …

Taxation Of Distributions From Accumulation Trusts: The Impact Of The Tax Reform Act Of 1976, David T. Link, Michael J. Wahoske

Journal Articles

The complex rules governing the taxation of income from trusts and estates have at times been described as incomprehensible. Perhaps the most confusing of these are the accumulation distribution throwback rules. In an effort to alleviate some of this confusion, Congress included accumulation trusts within the purview of the Tax Reform Act of 1976. Though Congress claimed that the rules are now "considerably simplified," it is not without some effort that one is able to translate the statutory language into a form useful to the practitioner.

Given the complexity of the rules, it is necessary to begin with a caveat. …

The Estate And Gift Tax Revisions Of The Tax Reform Act Of 1976, Howard Zaritsky

Washington and Lee Law Review

No abstract provided.

Foreign Accumulation Trusts And The Tax Reform Act Of 1976, David H. Simmons

Vanderbilt Journal of Transnational Law

If the foreign trust is not a grantor trust under the Grantor Trust Provisions (sections 671-679), then the new Act creates several new disparities in the tax treatment between it and a corresponding domestic accumulation trust. Domestic accumulation trusts are no longer subjected to a capital gains throw back, while capital gains of foreign trusts are included in DNI, subject to throw back, and then taxed as ordinary income to the beneficiary because of the abolition of the character rules upon accumulation distribution. Foreign trusts are subjected to throw back of accumulation distributions even though the accumulation was during the …

The Illinois Probate Act: Dispositions Subject To Contrary Will Intent, 11 J. Marshall J. Prac. & Proc. 154 (1977), Louise M. Calvert

UIC Law Review

No abstract provided.

Reflections On Estate Of Rothko: The Role Of The Legal Advisor In Relation To The Artist, Gustave Harrow

Cleveland State Law Review

Estate of Rothko reveals the type of responsibility a legal advisor to an artist ought to assume if he is to render a service designed to advance not only his client's monetary interests, but the integrity of his art and his artistic aspirations as well.

Pendleton V. Pendleton: An Equal Right Of Inheritance For The Illegitimate?, Donna Chu

Kentucky Law Journal

No abstract provided.

Close Corporations In Estate Planning After The Tax Reform Act Of 1976, Edwin T. Hood

Faculty Works

No abstract provided.

The Uniform Disposition Of Community Property Rights At Death Act, Sarah N. Welling

Law Faculty Scholarly Articles

In 1977, eight of the United States use community property systems instead of the common law systems used in the other 42 states. Because the community property system is totally alien to common law states which do not recognize community interests in property, when domiciliaries of a community property state migrate to a common law state problems develop over the definition of property rights. Two questions usually arise: do the spouses’ rights and interests in the community property change if they move to a common law state? And if not, how are these rights and interests protected? The first question …

Federal Taxation Of The Assignment Of Life Insurance, Douglas A. Kahn, Lawrence W. Waggoner

Articles

The most litigated estate tax issue concerning life insurance is whether the proceeds should be included in the insured's gross estate. This question usually is governed by section 2042 of the Internal Revenue Code of 1954, the estate tax provision directed specifically at life insurance. While the Tax Reform Act of 1976 wrought enormous changes in many areas of estate taxation, Congress did not change section 2042. Thus the several unresolved questions concerning the interpretation of that section remain unsettled. But the question of the includability of life insurance proceeds in the gross estate of the insured is not always …