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Estates and Trusts

2008

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Articles 1 - 30 of 42

Full-Text Articles in Law

Wills, Trusts, And Estates, J. Rodney Johnson Nov 2008

Wills, Trusts, And Estates, J. Rodney Johnson

University of Richmond Law Review

No abstract provided.


The Low Road To Cy Pres Reform: Principled Practice To Remove Dead Hand Control Of Charitable Assets, Rob Atkinson Oct 2008

The Low Road To Cy Pres Reform: Principled Practice To Remove Dead Hand Control Of Charitable Assets, Rob Atkinson

Scholarly Publications

In recent decades many scholars have called for reduction of dead hand control of charitable assets. These scholars have recommended the "high road" to reform: sweeping, wholesale revision of legal doctrines by either courts or legislatures. These calls, for all their merit, have gone virtually unheeded. In the face of that apparent impasse, this article recommends a different route, a "low road," to reform: an immediately available set of strategies for removing dead hand control, strategies that can be deployed, in particular cases, right now. The net effect of this piecemeal, practical approach should be to move us, albeit in …


Individualized Justice In Disputes Over Dead Bodies, Frances H. Foster Oct 2008

Individualized Justice In Disputes Over Dead Bodies, Frances H. Foster

Vanderbilt Law Review

In February 2007, the world had a ringside seat to a truly macabre fight. Under the glare of television cameras, Anna Nicole Smith's nearest but not dearest' battled in a Florida probate court over custody of her body. The parties agreed on only one point: "Anna Nicole Smith's appearance was a paramount issue to her." Yet, those same parties denied Anna Nicole after death the beauty she prized during life. Because of their protracted legal wrangling, Anna Nicole went to her grave a decomposed corpse in a closed casket. Anna Nicole Smith's tragic fate is by no means unique. For …


Shattering And Moving Beyond The Gutenberg Paradigm: The Dawn Of The Electronic Will, Joseph Karl Grant Oct 2008

Shattering And Moving Beyond The Gutenberg Paradigm: The Dawn Of The Electronic Will, Joseph Karl Grant

University of Michigan Journal of Law Reform

Legislators in Nevada have already acted to modernize the law of wills. This Article advocates that other states follow their lead and depart from what is described as the "Gutenberg Paradigm" by adopting similar legislation and embracing electronic technology. Part One of this Article explores the history of print, Johann Gutenberg's role in this development, and the emergence of the "Gutenberg Paradigm." Part Two examines the history and policy underpinnings of will execution formalities, and the role of the "writing" requirement. Part Three explores the use of electronic wills as conforming and nonconforming testamentary instruments. More specifically, Part Three highlights …


A Comment On Unification, Grayson M.P. Mccouch Oct 2008

A Comment On Unification, Grayson M.P. Mccouch

UF Law Faculty Publications

This Article discusses recent proposals aimed at unifying the law of wills and nonprobate transfers. The author notes that default rules of construction present the strongest case for unification, but contends that distinctions between wills and nonprobate transfers remain important in the areas of formalities and restrictions affecting third-party rights. The author concludes that the policy goal should be to allow wills and nonprobate transfers to operate smoothly as complementary methods of deathtime wealth transmission.


Drafting Attorneys As Fiduciaries: Fashioning An Optimal Ethical Rule For Conflicts Of Interest, Paula A. Monopoli Sep 2008

Drafting Attorneys As Fiduciaries: Fashioning An Optimal Ethical Rule For Conflicts Of Interest, Paula A. Monopoli

Paula A Monopoli

The American Bar Association recently revised the ethical rules that govern lawyers. Its Ethics 2000 Commission proposed a number of changes to the Model Rules of Professional Conduct, including revisions to the rules that affect how the profession handles conflicts of interest in the area of attorneys who draft instruments that name themselves as fiduciaries. The intersection of these changes, with their subsequent clarification by an ABA opinion issued in May 2002, has broad implications for attorneys practicing in this area. Given the increasing elderly population, the trillions of dollars that they are transferring to their baby-boomer children, and the …


"Deadbeat Dads": Should Support And Inheritance Be Linked?, Paula A. Monopoli Sep 2008

"Deadbeat Dads": Should Support And Inheritance Be Linked?, Paula A. Monopoli

Paula A Monopoli

No abstract provided.


Is Philanthropy Going To The Dogs? Panelist, Ray D. Madoff Sep 2008

Is Philanthropy Going To The Dogs? Panelist, Ray D. Madoff

Ray D. Madoff

No abstract provided.


Shoemaker V. Gindlesberger: The Lack Of Privity Defense Survives, But Just Barely, Alan Newman Jul 2008

Shoemaker V. Gindlesberger: The Lack Of Privity Defense Survives, But Just Barely, Alan Newman

Akron Law Faculty Publications

In Shoemaker v. Gindlesberger, decided in May of this year, the Ohio Supreme Court held that: “A beneficiary of a decedent's will may not maintain a negligence action against an attorney for the preparation of a deed that results in increased tax liability for the estate.” In doing so, the Court approved and followed its 1987 decision in Simon v. Zipperstein. Under Zipperstein, an attorney who prepares a will for a client can not be liable in negligence to a third person the client intended to benefit under the will unless (i) the third person was in privity with the …


Shoemaker V. Gindlesberger: The Lack Of Privity Defense Survives, But Just Barely, Alan Newman Jul 2008

Shoemaker V. Gindlesberger: The Lack Of Privity Defense Survives, But Just Barely, Alan Newman

Alan Newman

In Shoemaker v. Gindlesberger, decided in May of this year, the Ohio Supreme Court held that: “A beneficiary of a decedent's will may not maintain a negligence action against an attorney for the preparation of a deed that results in increased tax liability for the estate.” In doing so, the Court approved and followed its 1987 decision in Simon v. Zipperstein. Under Zipperstein, an attorney who prepares a will for a client can not be liable in negligence to a third person the client intended to benefit under the will unless (i) the third person was in privity with the …


Tercer Congreso Nacional De Organismos Públicos Autónomos, Bruno L. Costantini García Jun 2008

Tercer Congreso Nacional De Organismos Públicos Autónomos, Bruno L. Costantini García

Bruno L. Costantini García

Tercer Congreso Nacional de Organismos Públicos Autónomos

"Autonomía, Reforma Legislativa y Gasto Público"


Law, Biology, And Property: A New Theory Of The Endowment Effect, Owen D. Jones, Sarah F. Brosnan May 2008

Law, Biology, And Property: A New Theory Of The Endowment Effect, Owen D. Jones, Sarah F. Brosnan

William & Mary Law Review

Recent work at the intersection of law and behavioral biology has suggested numerous contexts in which legal thinking could benefit by integrating knowledge from behavioral biology. In one of those contexts, behavioral biology may help to provide theoretical foundation for, and potentially increased predictive power concerning, various psychological traits relevant to law. This Article describes an experiment that explores that context. The paradoxical psychological bias known as the "endowment effect" puzzles economists, skews market behavior, impedes efficient exchange of goods and rights, and thereby poses important problems for law. Although the effect is known to vary widely, there are at …


Valuation Discounting Techniques: Terms Gone Awry, Wendy G. Gerzog Apr 2008

Valuation Discounting Techniques: Terms Gone Awry, Wendy G. Gerzog

All Faculty Scholarship

Fair market value is defined in the section 2031 Regulations. For its validity, that definition of fair market value relies on the normal definitions of its significant terms: a seller is someone who is seeking the highest price for her product and a buyer is someone who wants to obtain the lowest price for his purchase. It is only that tension that creates the realistic, and fair, market value of that asset. Indeed, without that conflict, the definition is comprised of hollow words.

In the context of family limited partnerships, terms have been misused. By utilizing the limited partnership shell, …


Probate Law Reform And Nonprobate Transfers, Grayson M.P. Mccouch Apr 2008

Probate Law Reform And Nonprobate Transfers, Grayson M.P. Mccouch

UF Law Faculty Publications

The advent of widespread, large-scale probate avoidance has added a new dimension to the project of probate law reform. When the Uniform Probate Code made its debut in 1969, its primary goal was to modernize traditional probate procedures and make them more uniform, flexible, and efficient. The Code's reforms were in part a response to the rise of will substitutes which offered a ready means of transferring property at death outside the probate system. In the intervening years, however, will substitutes have continued to proliferate, while traditional probate procedures have resisted comprehensive reform. The probate system has not become obsolete …


Acerca De La Responsabilidad Social Y El Desarrollo Económico Del País: Ignorantia Legis Excusat, Ignorantia Facti Non Excusat, Gastón Fernández Cruz, Renzo E. Saavedra Velazco Mar 2008

Acerca De La Responsabilidad Social Y El Desarrollo Económico Del País: Ignorantia Legis Excusat, Ignorantia Facti Non Excusat, Gastón Fernández Cruz, Renzo E. Saavedra Velazco

Renzo E. Saavedra Velazco

La presente nota tiene como propósito exponer los defectos en la transmisión de información por parte de la clase política peruana respecto de los procesos de "concesión" y/o "privatización". Tales defectos han generado una errónea percepción por parte de la sociedad que ha devenido en movimientos contrarios a tales procesos.


Summary Of In Re Orpheus Trust, 124 Nev. Adv. Op. No. 16, Tanya Gaylord Mar 2008

Summary Of In Re Orpheus Trust, 124 Nev. Adv. Op. No. 16, Tanya Gaylord

Nevada Supreme Court Summaries

Appeal from a district court order denying a special trustee’s proposed distribution adjustments in a trust administration matter.


Leaving More Than Money: Mediation Clauses In Estate Planning Documents, Lela P. Love, Stewart E. Sterk Mar 2008

Leaving More Than Money: Mediation Clauses In Estate Planning Documents, Lela P. Love, Stewart E. Sterk

Washington and Lee Law Review

When probate disputes arise, an increasing number of courts have been referring those disputes to mediation. Estate planners, however, have been less proactive about drafting wills to include mediation clauses that would anticipate estate disputes and channel them away from litigation. When a will mandates mediation, the will provides a dispute resolution mechanism designed to preserve family harmony, conserve estate assets, and avoid airing the family's "dirty laundry "-objectives common to many testators. Mediation clauses in wills are no panacea. They are of little value to testators who exalt control over estate assets above all other concerns, and they are …


Till [My Parents'] Death Do Us Part: Exposing Testamentary Restrictions Placed On Marriages That Perpetuate Prejudice, Christina V. Bonfanti Mar 2008

Till [My Parents'] Death Do Us Part: Exposing Testamentary Restrictions Placed On Marriages That Perpetuate Prejudice, Christina V. Bonfanti

Washington and Lee Journal of Civil Rights and Social Justice

No abstract provided.


Tortious Interference With Expectancy Of Inheritance Or Gift--Suggestions For Resort To The Tort, Irene D. Johnson Feb 2008

Tortious Interference With Expectancy Of Inheritance Or Gift--Suggestions For Resort To The Tort, Irene D. Johnson

Elisabeth Haub School of Law Faculty Publications

This article examines the various factual circumstances in which a tort recovery for interference with the expectancy of inheritance or gift might be available, either as the only possible remedy for the disappointed expectant person or as an alternative to a remedy at equity or at probate, and determines, in regard to each circumstance, whether a cause of action in tort should be available. This tort has received recent attention, especially in light of the substantial awards, both compensatory and punitive, in a California Bankruptcy Court, 253 B.R. 550 (Bankr. C.D. Cal 2000), and, on appeal, in the U,S. District …


Shattering And Moving Beyond The Gutenberg Paradigm: The Dawn Of The Electronic Will, Joseph Karl Grant Jan 2008

Shattering And Moving Beyond The Gutenberg Paradigm: The Dawn Of The Electronic Will, Joseph Karl Grant

Journal Publications

Legislators in Nevada have already acted to modernize the law of wills. This Article advocates that other states follow their lead and depart from what is described as the "Gutenberg Paradigm" by adopting similar legislation and embracing electronic technology. Part One of this Article explores the history of print and the emergence of the "Gutenberg Paradigm." Part Two examines the history and policy underpinnings of will execution formalities, and the role of the "writing" requirement. Part Three explores the use of electronic wills as conforming and nonconforming testamentary instruments. Part Three, also, highlights some of the pitfalls and shortcomings of …


Whose Money Is It Anyway? The Case For A Mortality Discount For Cash Balance Plan Early Termination Lump Sum Distributions, William Handley Woolston Jan 2008

Whose Money Is It Anyway? The Case For A Mortality Discount For Cash Balance Plan Early Termination Lump Sum Distributions, William Handley Woolston

Student Award Winning Papers

No abstract provided.


From The Greedy To The Needy, Wendy G. Gerzog Jan 2008

From The Greedy To The Needy, Wendy G. Gerzog

All Faculty Scholarship

In some instances when the taxpayer makes a charitable donation, the loss of revenue to the government, and the corresponding gain to the taxpayer, far exceeds the benefit to the charity. Some of these losses may be generated by government sanctioned complex transactions and even government created devices. This article proposes a new way to examine "quid pro quo" charitable gifts that reflects the rationale for the charitable deduction.The article analyzes various charitable donations in terms of the dollars gained by the taxpayer, the dollars lost by the government, and the dollars received by the charity. After considering a sliding …


Symposium: Issues In Estate Planning For Same-Sex And Transgender Couples: Foreword, Jennifer L. Levi Jan 2008

Symposium: Issues In Estate Planning For Same-Sex And Transgender Couples: Foreword, Jennifer L. Levi

Faculty Scholarship

Despite the sea of change in possibilities for creating lawful relationships for many gay, lesbian, bisexual, and transgender individuals, most jurisdictions do not allow them to marry or enter into any comparable legal status. The vast majority of states either by statute or state constitutional amendment actually prohibit marriage for same-sex couples. And, even when couples can marry or enter into a comparable legal status, they are faced with uncertainty regarding what effect, if any, will be accorded to that status should they travel or move. Given the legal challenges that same-sex couples face, the need for high-quality estate planning …


Dealing Fairly With Estate And Trust Beneficiary Complaints, Robert Whitman Jan 2008

Dealing Fairly With Estate And Trust Beneficiary Complaints, Robert Whitman

Faculty Articles and Papers

No abstract provided.


Revocable Trusts And The Law Of Wills: An Imperfect Fit, Alan Newman Jan 2008

Revocable Trusts And The Law Of Wills: An Imperfect Fit, Alan Newman

Akron Law Faculty Publications

Over the centuries that wills have been used to dispose of testators’ property at death, the law of wills has developed to address issues that arose. Similarly, over the centuries that trusts have been used for non-testamentary purposes, the law of trusts has developed to resolve resulting issues.

In recent decades revocable trusts have become the most commonly used trust in the United States. To avoid estate administration, particularly in states in which administration involves cumbersome, time-consuming, and expensive court supervision, settlors make inter vivos transfers of assets that otherwise would be subject to administration on their deaths in trust. …


Same-Sex Marriage And Federalism, Nancy J. Knauer Jan 2008

Same-Sex Marriage And Federalism, Nancy J. Knauer

Nancy J. Knauer

The increasing willingness of states to recognize same-sex relationships illustrates the central theme of this Symposium: federalism provides states the freedom to experiment with novel solutions to pressing social issues. The development of progressive policies seems to bear out Justice Brandeis' optimistic vision of federalism where "a single courageous State may, if its citizens choose, serve as a laboratory; and try novel social and economic experiments without risk to the rest of the country." With respect to same-sex relationships, however, state level reform efforts have not been uniformly progressive. To the contrary, the vast majority of these efforts prohibit the …


El Conflicto De Intereses Entre Los Beneficiarios Del Fideicomiso: Pautas De Interpretación De La Resolución General 530 De La Cnv, Martin Paolantonio Jan 2008

El Conflicto De Intereses Entre Los Beneficiarios Del Fideicomiso: Pautas De Interpretación De La Resolución General 530 De La Cnv, Martin Paolantonio

Martin Paolantonio

Análisis de alternativas de interpretación de las reglas de votación de los beneficiarios de fideicomisos financieros que sean a su vez fiduciantes


El Modelo Normativo De Información Al Inversor De Fondos Comunes De Inversión. La Necesidad De Su Adecuación Y La Futilidad Del Reglamento De Gestión, Martin Paolantonio Jan 2008

El Modelo Normativo De Información Al Inversor De Fondos Comunes De Inversión. La Necesidad De Su Adecuación Y La Futilidad Del Reglamento De Gestión, Martin Paolantonio

Martin Paolantonio

Crítica referencia al modelo normativo de información al inversor de fondos comunes de inversión, sustancialmente diferente del general vigente en el derecho de mercado de capitales


La Acción Cambiaria Directa: Presentación Al Pago Y Prescripción, Martin Paolantonio Jan 2008

La Acción Cambiaria Directa: Presentación Al Pago Y Prescripción, Martin Paolantonio

Martin Paolantonio

Breve análisis de una sentencia de la Cámara Nacional en lo Comercial y consideraciones sobre la acción directa para el cobro de pagarés


Los Amparos De Cuotapartistas De Fondos Comunes De Inversión. La Corte Suprema De Justicia Cierra Un Debate Más, Martin Paolantonio Jan 2008

Los Amparos De Cuotapartistas De Fondos Comunes De Inversión. La Corte Suprema De Justicia Cierra Un Debate Más, Martin Paolantonio

Martin Paolantonio

Nota a fallo de la Corte Suprema sobre la falta de legitimaciòn individual de los cuotapartistas para accionar por los perjuicios sufridos por el fondo de inversión