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Apportionment Of The Federal State Tax In The Absence Of Statute Or An Expression Of Intention, William P. Sutter
Apportionment Of The Federal State Tax In The Absence Of Statute Or An Expression Of Intention, William P. Sutter
Michigan Law Review
Federal law now provides in sections 826 (c) and (d) of the Internal Revenue Code that life insurance and property transferred by appointment shall bear their proportionate tax burden. It does not contain similar provisions with respect to other types of non-probate property. At the present time, twenty states provide by statute for some sort of apportionment of estate taxes. Two states have statutes restricting apportionment in some degree. In the rest, the matter rests in the discretion of the courts. I propose to discuss in this article the situation in those areas where no statutory guidance exists.
Personal Property-Gifts-Beneficiary's Letter Directing Trustee To Transfer Accumulated Income As A Gift, Wendell B. Will S.Ed.
Personal Property-Gifts-Beneficiary's Letter Directing Trustee To Transfer Accumulated Income As A Gift, Wendell B. Will S.Ed.
Michigan Law Review
The donor was entitled to the income of a trust for her life. Income in the amount of $9,000 had accrued in the hands of the trustee and was subject to the immediate call of the donor. While a resident of Spain, the donor wrote a letter addressed to the trustee in New York reciting that she was in poor physical condition and desirous of distributing her American money. The letter directed the trustee to transfer the accumulated income to the donee. Because of troubles with the Spanish Government the donor did not wish to mail the letter directly to …