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Articles 1 - 10 of 10
Full-Text Articles in Law
Honoring Probable Intent In Intestacy: An Empirical Assessment Of The Default Rules And The Modern Family, Danaya C. Wright, Beth Sterner
Honoring Probable Intent In Intestacy: An Empirical Assessment Of The Default Rules And The Modern Family, Danaya C. Wright, Beth Sterner
Danaya C. Wright
This article provides preliminary analysis of an empirical study of nearly 500 wills probated in Alachua and Escambia Counties in the State of Florida in 2013. The particular focus of the study is to determine if there are noticeable patterns of property distribution preferences among decedents based on their diverse family relationships. Earlier empirical studies of distribution preferences indicated that a majority of married decedents wanted to give all or most of their estates to their surviving spouses. As a result of these studies, most states amended their probate codes to give surviving spouses a sizable percentage of a decedent …
Maryland Treads Water Over Elective Share Reform: The Spouse’S Desperate Cry For The Court’S Intervention With A Bright-Line Rule For Revocable Trusts, Angela Vallario
Maryland Treads Water Over Elective Share Reform: The Spouse’S Desperate Cry For The Court’S Intervention With A Bright-Line Rule For Revocable Trusts, Angela Vallario
University of Baltimore Law Forum
No abstract provided.
No Child Left Behind: Extending Ohio's Pretermitted Heir Statute To Revocable Trusts, Danielle J. Halachoff
No Child Left Behind: Extending Ohio's Pretermitted Heir Statute To Revocable Trusts, Danielle J. Halachoff
Akron Law Review
Generally, pretermitted heir statutes protect a child, and under some statutes a more remote descendant of the testator from unintentional disinheritance. Their purpose is to carry out the presumed intent of the decedent to provide for a child inadvertently omitted from the will. Because revocable trusts are regularly used as substitutes for wills, primarily to avoid probate administration, presumptions regarding the intent of a decedent that are applicable to wills should also be applicable to revocable trusts. Additionally, many other problems that arise when disposing of a testator’s property at death may also arise with a settlor’s use of a …
The Elective Share Has No Friends: Creditors Trump Spouse In The Battle Over The Revocable Trust, Angela M. Vallario
The Elective Share Has No Friends: Creditors Trump Spouse In The Battle Over The Revocable Trust, Angela M. Vallario
All Faculty Scholarship
A revocable trust is a popular estate planning tool used to disinherit a spouse in sixteen jurisdictions. In common law jurisdictions, a surviving spouse, who is dissatisfied with his or her inheritance, has the right to receive an elective share of the decedent's estate regardless of the decedent's estate plan. However, sixteen jurisdictions have defined a dissatisfied spouse's rights with a fractional share of the deceased spouse's "net probate estate," allowing one spouse to disinherit the other, by single-handedly transferring his or her assets to a revocable trust. To add insult to injury seven of these common law jurisdictions have …
Honoring Probable Intent In Intestacy: An Empirical Assessment Of The Default Rules And The Modern Family, Danaya C. Wright, Beth Sterner
Honoring Probable Intent In Intestacy: An Empirical Assessment Of The Default Rules And The Modern Family, Danaya C. Wright, Beth Sterner
UF Law Faculty Publications
This article provides preliminary analysis of an empirical study of nearly 500 wills probated in Alachua and Escambia Counties in the State of Florida in 2013. The particular focus of the study is to determine if there are noticeable patterns of property distribution preferences among decedents based on their diverse family relationships. Earlier empirical studies of distribution preferences indicated that a majority of married decedents wanted to give all or most of their estates to their surviving spouses. As a result of these studies, most states amended their probate codes to give surviving spouses a sizable percentage of a decedent …
Creation, Administration, And Effectiveness Of The "Failsafe" Trust For Nonresident Aliens, Andrew H. Prussack
Creation, Administration, And Effectiveness Of The "Failsafe" Trust For Nonresident Aliens, Andrew H. Prussack
Georgia Journal of International & Comparative Law
No abstract provided.
Disclose - Disclose - Disclose - Longmeyer Distorts The Trustee's Duty To Inform Trust Beneficiaries, David M. English, Berry T. Turney, Dana G. Fitzsimons Jr.
Disclose - Disclose - Disclose - Longmeyer Distorts The Trustee's Duty To Inform Trust Beneficiaries, David M. English, Berry T. Turney, Dana G. Fitzsimons Jr.
Faculty Publications
The evolution of the law concerning the trustee's duty to disclose information to the trust beneficiaries, through cases like Longmeyer, creates new risks for trustees who are unaware of their obligations. Trustees will also face an increasing number of difficult situations as in Longmeyer as a result of an aging and increasingly infirm population. Although it can be a difficult decision to make under pressure, a trustee should give strong consideration to policies that favor prompt and complete disclosure even in difficult circumstances. Also, trustees should remember that the courts are available for their protection when confronted with genuine doubt …
Longmeyer Exposes Or Creates Uncertainty About The Duty To Inform Remainder Beneficiaries Of A Revocable Trust, David M. English, Turney P. Berry, Dana G. Fitzsimons Jr.
Longmeyer Exposes Or Creates Uncertainty About The Duty To Inform Remainder Beneficiaries Of A Revocable Trust, David M. English, Turney P. Berry, Dana G. Fitzsimons Jr.
Faculty Publications
This article discusses the surprising Longmeyer decision, handed down by the Supreme Court of Kentucky earlier this year in which a predecessor trustee was held to have a duty to give certain notifications to former remainder beneficiaries of a revocable trust. The authors then examine how Longmeyer might have been decided in other states and under other statutory schemes. The article concludes with observations concerning when certain notices to trust beneficiaries may be conducive to effective trust administration and suggestions to those who administer trusts on how best to comply with beneficiary notice requirements.
Shape Up Or Ship Out: Accountability To Third Parties For Patent Ambiguities In Testamentary Documents, Angela M. Vallario
Shape Up Or Ship Out: Accountability To Third Parties For Patent Ambiguities In Testamentary Documents, Angela M. Vallario
All Faculty Scholarship
The attorney's preparation of a testamentary document (hereinafter sometimes referred to as a will or revocable trust) should clearly and accurately reflect the client's last wishes. Although these testamentary documents should reflect the client's intent, they often fall short of accomplishing that goal. There are numerous examples of will and trust construction cases that exhaust tremendous resources in an effort to ascertain the client's wishes or intent. Many of these cases involve the construction of patent and/or latent ambiguities which should have been resolved by appropriate drafting. This article's scope is limited to patent ambiguities caused by the attorney's negligence …
Dying With The "Living" (Or"Revocable") Trust: Federal Tax Consequences Of Testamentary Dispositions Compared, C. Douglas Miller, R. Alan Rainey
Dying With The "Living" (Or"Revocable") Trust: Federal Tax Consequences Of Testamentary Dispositions Compared, C. Douglas Miller, R. Alan Rainey
Vanderbilt Law Review
The purpose of this Article is to examine the federal tax consequences of the revocable trust to the grantor and to his estate.Principally due to the grantor's power to revoke the trust and re-vest the trust assets in himself the federal tax consequences to the grantor are in effect, if not in cause, insignificant. The perception that creation of a revocable trust has no federal tax consequences,therefore, is at least to that extent essentially correct, and the discussion herein is merely a summary review of the tax consequences to the grantor upon the trust's creation and during its administration. Perhaps …