Law Commons^™

San Marino - Digest Of Trust Law, Andrea Vicari Avv.

Andrea Vicari Avv.

No abstract provided.

How The Rich Stay Rich: Using A Family Trust Company To Secure A Family Fortune, Iris Goodwin

College of Law Faculty Scholarship

Abstract HOW THE RICH STAY RICH: USING A FAMILY TRUST COMPANY TO SECURE A FAMILY FORTUNE Iris J. Goodwin Associate Professor, University of Tennessee College of Law This Article is about family trust companies and the role they play in preserving great fortunes. A family trust company is a corporation formed to provide fiduciary services to a related group of people, in contrast to banking institutions established to offer similar services to a larger public. The province of the mega-rich (who remain very much upon the American landscape, the recent economic crisis notwithstanding), these entities have received scant attention from …

The Virginia Uniform Trust Code, Robert T. Danforth

Robert T. Danforth

In its 2005 session the Virginia General Assembly enacted Senate Bill No. 891, thus adopting the Uniform Trust Code (UTC), with modifications considered appropriate to this state's institutions, traditions and jurisprudence. The Virginia Uniform Trust Code (Virginia UTC), set forth in new Chapter 31 of Title 55 of the Code, has an effective date of July 1, 2006, but, once in effect, will be applicable (with some exceptions) to trusts created before, on, or after that date. The new Virginia UTC, which encompasses the great bulk of the principles and rules that comprise the law of trusts in Virginia, has …

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

Faculty Publications

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 …

"I'M Not Quite Dead Yet!": Rethinking The Anti-Lapse Redistribution Of A Dead Beneficiary's Gift, Eloisa C. Rodriguez-Dod

Cleveland State Law Review

A persistent challenge in law is how to achieve the necessary balance between individual decision-making and societal goals. This struggle of autonomy versus societal goals manifests itself in the context of anti-lapse law for wills and trusts. This article highlights how the current rules of construction regarding anti-lapse statutes fail both the goal of implementing intent and ensuring societal goals. An examination of the current statutes demonstrates that they are flawed, controversial, and, at times, result in inconsistent application. The current statutory scheme leads to unanswered questions: Should statutes presuppose distributions when an instrument does not explicitly address the specific …

A Supreme Court Ruling That's About Way More Than Preemption, Nancy Polikoff

Articles in Law Reviews & Other Academic Journals

No abstract provided.

You Can't Have Your Trust And Defeat It Too: Why Mandatory Arbitration Provisions In Trusts Are Enforceable, And Why State Courts Are Getting It Wrong, Rachel M. Hirshberg

Journal of Dispute Resolution

This note addresses a recent decision by the Texas State Court of Appeals concerning the enforceability of mandatory arbitration provisions found in testamentary instruments, and specifically, inter vivos trusts. After analyzing the legal background of arbitration, the use of contract principles to analyze both arbitration and trust agreements, and statutory enactments making trust arbitration provisions enforceable, this note will discuss the nuanced relationship between contract principles of construction, arbitration agreements, and trust instruments, and specifically the relationship between trust agreements and contracts. In analyzing these relationships, this note will also address the differences between the statute at issue in Rachal …

How An Obscure Tennessee Opinion Uncovers The Veil Of Legal Malpractice Between Asset-Protection Trusts And The Uniform Trust Code., Charles Epps Ipock

St. Mary's Journal on Legal Malpractice & Ethics

In the year 2000, the Uniform Law Commissioners approved the Uniform Trust Code (UTC). This was the first effort to provide states with an all-inclusive model for codifying their trust laws. Since then, at least twenty-three states adopted some, or most of the UTC. But this enactment did not come without controversy. Most of the controversies stem from provisions regarding asset-protection trusts. The net result of asset-protection trusts within the UTC essentially disposes of discretionary trusts by requiring them to contain spendthrift language. The undesirable effect of these provisions is that without a spendthrift clause any creditor can attach a …

Restricting Testamentary Freedom: Ex Ante Versus Ex Post Justifications, Daniel B. Kelly

Journal Articles

The organizing principle of American succession law — testamentary freedom — gives decedents a nearly unrestricted right to dispose of property. After surveying the justifications for testamentary freedom, I examine the circumstances in which it may be socially beneficial for courts to alter wills, trusts, and other gratuitous transfers at death: imperfect information, negative externalities, and intergenerational equity. These justifications correspond with many existing limitations on the freedom of testation. Yet, disregarding donor intent to maximize the donees’ ex post interests, an increasingly common justification for intervention, is socially undesirable. Doing so ignores important ex ante considerations, including a donor’s …

Digital Planning: The Future Of Elder Law, Naomi R. Cahn

GW Law Faculty Publications & Other Works

More than half of individuals over the age of 65 use the Internet or e-mail — and they are a fast-growing population on the Internet. Like most people, however, they have probably not considered how to dispose of their digital life if they become incapacitated or when they die, even though they are in the most likely age group to have drafted a will. Indeed, even if they do engage in planning, they cannot be confident that their wishes will be carried out: only a few states have laws covering probate and digital assets, there is no generally accepted method …