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Selected Works

Estates and Trusts

2016

Articles 1 - 10 of 10

Full-Text Articles in Law

“I’M Not Quite Dead Yet!”: Rethinking Anti-Lapse Redistribution Of A Dead Beneficiary’S Gift, Eloisa Rodriguez-Dod Nov 2016

“I’M Not Quite Dead Yet!”: Rethinking Anti-Lapse Redistribution Of A Dead Beneficiary’S Gift, Eloisa Rodriguez-Dod

Eloisa C Rodríguez-Dod

Anti-lapse statutes create a category of substitute takers when a beneficiary prematurely dies. They are based on the legislature’s presumption of how a testator or settlor would want his property distributed in these circumstances. However, a testator’s or settlor’s intent may effectively be frustrated by this presumed intent. This Article critically examines the tension between an individual’s autonomy and societal goals in the context of anti-lapse statutes applicable to wills and trusts. It scrutinizes the current rules of construction regarding anti-lapse statutes and identifies their deficiencies in their application to wills and trusts. This Article analyzes and identifies the deficiencies …

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The "Estate Planning" Interviewer, Thomas L. Shaffer Nov 2016

The "Estate Planning" Interviewer, Thomas L. Shaffer

Thomas L. Shaffer

Professor Shaffer's article The "Estate Planning" Interviewer is the Introduction: Part II, in J.K. Lasser's Estate Tax Techniques on pages INT-25 to INT-51

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Toward Economic Analysis Of The Uniform Probate Code, Daniel B. Kelly Oct 2016

Toward Economic Analysis Of The Uniform Probate Code, Daniel B. Kelly

Daniel B Kelly

Insights from economics and the economic analysis of law may be useful in analyzing succession law, including intestacy and wills as well as nonprobate transfers such as trusts. After surveying prior works that have examined succession from a functional perspective, I explore the possibility of utilizing tools like (i) transaction costs, (ii) the ex ante/ex post distinction, and (iii) rules versus standards, to illuminate the design of the Uniform Probate Code. Specifically, I investigate how these tools, which legal scholars have employed widely in other contexts, may be relevant in understanding events like the nonprobate revolution and issues like “dead …

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A Review And Critique Of Selected Problem Areas From The Tax Reform Act Of 1976, Neil E. Harl, Michael D. Boehlje Jul 2016

A Review And Critique Of Selected Problem Areas From The Tax Reform Act Of 1976, Neil E. Harl, Michael D. Boehlje

Neil E. Harl

Rarely has agriculture enjoyed the attention it received in the Tax Reform Act of 1976. In addition to various provisions narrowing the scope of tax shelter opportunities, Congressional attention was drawn to the federal estate tax concerns that were believed to be unique to agriculture and other small firms. As a result, legislation was enacted providing two new methods for valuing land, an expanded and more attractive installment option or paying the federal estate tax attributable to a qualifying business, a new rule for taxing post-1976 joint tenancies at death,— an opportunity to continue "Section 303" stock redemptions for the …

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Donative Trusts And Equity At Common Law, Thomas E. Simmons Jun 2016

Donative Trusts And Equity At Common Law, Thomas E. Simmons

Thomas E. Simmons

The historical evolution of express donative trusts in the English Middle Ages down to today both explains and frames the basic elements of a common law trust. Today, trusts in common law countries - and also in many civil law jurisdictions with the exception of China - are utilized in the private donative context to preserve and administer family wealth in ways not otherwise achievable. This paper outlines the basic elements of a common law donative trust from a functional perspective, explaining how trust work as a form of gratuitous transfers and why,

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Family Surrogate Laws: A Necessary Supplement To Living Wills And Durable Powers Of Attorney, 38 Vill. L. Rev. 103 (1993), Ardath A. Hamann Jun 2016

Family Surrogate Laws: A Necessary Supplement To Living Wills And Durable Powers Of Attorney, 38 Vill. L. Rev. 103 (1993), Ardath A. Hamann

Ardath A. Hamann

No abstract provided.

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Mapping Chinese Trusts With A Patrimony Compass, Thomas E. Simmons Jan 2016

Mapping Chinese Trusts With A Patrimony Compass, Thomas E. Simmons

Thomas E. Simmons

Review of: Kai Lyu, Re-Clarifying China's Trust Law: Characteristics and New Conceptual Basis, 36 Loy. L.A. Int'l & Comp. L. Rev. 447 (2015).

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Mor[T]Ality And Identity: Wills, Narratives, And Cherished Possessions, Deborah S. Gordon Dec 2015

Mor[T]Ality And Identity: Wills, Narratives, And Cherished Possessions, Deborah S. Gordon

Deborah S Gordon

Franz Kafka is credited with observing that “the meaning of life is that it stops.” This recognition—that life’s one certainty is certain death—has been the source of great artistic, scientific, political, and personal inspiration. How we have lived over the course of our days—our individual and collective histories—and how we will be remembered by those who survive us—our legacies—are bridged not only by our achievements and relationships but also by cherished items of property that we have accumulated and decided to pass on. This type of possession often has a narrative that endows it with meaning. By incorporating a personal …

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Wills Above Ground, Thomas E. Simmons Dec 2015

Wills Above Ground, Thomas E. Simmons

Thomas E. Simmons

The widespread adoption of electronic court filing systems allow for easier and more efficient views of the rich data of probate proceedings. Wills Law on the Ground by Professor David Horton, published in the UCLA Law Review, highlights both the potential and some of the inherent limitations of empirical research in the law of wills. Wills law has been the battleground of formalists and functionalists over the last half century, with both sides bearing the banner of testator intent, but neither backing up their proposals or counterproposals with much hard data about which better achieves their common aim. Professor Horton …

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The Wrongheadedness Of The Poms Pooled Trust Rules And An Unfortunate But Recently Noted Chinese Parallel, Thomas E. Simmons Dec 2015

The Wrongheadedness Of The Poms Pooled Trust Rules And An Unfortunate But Recently Noted Chinese Parallel, Thomas E. Simmons

Thomas E. Simmons

Supplemental needs trusts of the pooled trust variety have offered important dignity-enhancing protections for individuals with disabilities for several decades. A pooled trust, properly structured according to Congressional requirements, allows the wealth of an individual with disabilities to be overseen by an independent third party trustee, supplementing without displacing means-tested government programs like Medicaid and Supplemental Security Income. Beginning in 2012, the Social Security Administration imposed new burdensome requirements on pooled trusts through its informal POMS manual. Those new requirements have intentionally or unintentionally eliminated as a practical matter the availability of pooled trusts in many states. This unfortunate result …

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