Estates and Trusts Commons^™

Message To Congress: Halt The Tax Exemption For Perpetual Trusts, Lawrence W. Waggoner

Articles

The federal estate tax is in abeyance this year. The popular press has picked up on the possibility that the estates of billionaires such as the late George Steinbrenner, who owned the New York Yankees, will escape the tax. The House Ways and Means Committee, chaired by Representative Sander Levin of Michigan, and the Senate Finance Committee, chaired by Senator Max Baucus of Montana, are now considering two questions: what the maximum rate and exemption will be when the estate tax returns and whether the tax will be reinstated for this year. Lurking behind the headlines but equally important is …

Innovation Or A Race To The Bottom? Trust "Modernization" In New Hampshire, Christopher Paul

The University of New Hampshire Law Review

[Excerpt] “Late last summer, Governor Lynch signed into law Senate Bill 465, designed to further update New Hampshire‘s trust law. This bill follows similar legislation in Alaska, Delaware, Nevada, and several other states. It adds major new provisions to the existing statutory framework for irrevocable trusts. The bill allows for the creation of so-called self-settled asset protection trusts or domestic asset protection trusts (DAPTs). DAPTs represent the latest chapter in our State‘s move away from traditional trust and estate principles towards a system of dynastic and (theoretically) creditor-proof trusts.

This legislation results from New Hampshire‘s desire to retain and attract …

The Upc Addresses The Class-Gift And Intestacy Rights Of Children Of Assisted Reproduction Technologies, Lawrence W. Waggoner, Sheldon F. Kurtz

Articles

Editor's Synopsis: Recent years' advances in assisted reproduction technology have enabled the conception of children in ways in addition to the traditional way. The Uniform Probate Code was amended last year to address the status of children born from assisted reproductive technologies for intestacy and class-gift purposes. This article discusses the relevant UPC provisions and offers several hypothetical cases to show how they operate. The article concludes expressing the hope that states will consider the new UPC approach.

The Upc Authorizes Notarized Wills, Lawrence W. Waggoner

Articles

This article reports on a 2008 amendment to the Uniform Probate Code that permits notarization as a method of will execution.

Incorporation Choice, Uniformity, And The Reform Of Nonprofit State Law, Garry W. Jenkins

Georgia Law Review

This Article explores the significance of private lawmaking initiatives in the reform process of nonprofit state law. Specifically, Professor Jenkins considers projects led by the American Bar Association, American Law Institute, and National Conference of Commissioners on Uniform State Laws. He documents and explains how various institutional dynamics, ingrained habits, and other factors unique to the tax-exempt sector, most notably the choices of nonprofit organizations regarding where to incorporate,affect the ways in which nonprofit law is developed. To that end, the Article presents empirical findings revealing that nonprofits are far less likely than for-profit corporations to opt for out-of-state incorporation.This, …

Charities, Endowments, And Donor Intent: The Uniform Prudent Management Of Institutional Funds Act, Susan N. Gary

Georgia Law Review

American charities manage substantial funds in conjunction with carrying out their charitable purposes, holding some funds for current operating needs and others as endowments. The legal rules on managing and investing those funds have worked well, but are now somewhat out of date, and revisions to these rules will benefit donors, charities, and charitable beneficiaries. Because laws regulating charities come from a variety of sources, including trust law, nonprofit corporation statutes, federal tax laws, and additional state statutes, this Article does not address the full panoply of regulations governing charities. Rather, the Article takes a narrow focus: the investment, management, …

A Complete Property Right Amendment, John H. Ryskamp

ExpressO

The trend of the eminent domain reform and "Kelo plus" initiatives is toward a comprehensive Constitutional property right incorporating the elements of level of review, nature of government action, and extent of compensation. This article contains a draft amendment which reflects these concerns.

Proposals For Revising Georgia's Probate Code, Mary F. Radford

Faculty Publications By Year

No abstract provided.

Free Will To Will? A Case For The Recognition Of Intestacy Rights For Survivors To A Same-Sex Marriage Or Civil Union?, Christine A. Hammerle

Michigan Law Review

This Note argues that courts should recognize intestacy rights for same sex couples that were validly married or civilly united in a state other than the one in which one of the partners died. Courts may validly recognize the marriage for intestacy purposes, even while refusing to recognize the marriage as against public policy. Part I details the recent provision of benefits in various states to same-sex couples. Part II argues that same-sex couples cannot necessarily rely on wills to effectuate their intent to leave their property to their spouses. Part III argues that when states refuse to recognize the …

Richard Vance Wellman, Thomas L. Jones

Georgia Law Review

I first met Richard "Dick"Vance Wellman when I was a graduate law student at The University of Michigan. As it turned out, Dick and I taught almost the same courses in our law schools. Perhaps I knew Dick best, however, as a Commissioner on Uniform State Laws.' The Model Probate Code (MPC) was promulgated in 1946 with Professor Lewis Simes, of The University of Michigan, as its Chief Reporter. As its name suggests, the Model Probate Code was intended to be a collection of probate statutes from which the respective states might pick and choose a well-drafted provision on a …

Colorado Revisits The Rule Against Perpetuities, Wayne M. Gazur

Publications

The 2006 Colorado General Assembly passed legislation adopting a 1000-year limitation applicable to interests in trust, practically eliminating the Rule Against Perpetuities ("RAP"). This article discusses the legislation's impact on the RAP in trust and non-trust situations.

Breaking The Bank: Revisiting Central Bank Of Denver After Enron And Sarbanes-Oxley, Celia Taylor

ExpressO

No abstract provided.

Wills, Trusts, And Estates, J. Rodney Johnson

University of Richmond Law Review

No abstract provided.

The Rise Of The Perpetual Trust, Jesse Dukeminier, James E. Krier

Articles

For more than two centuries, the Rule against Perpetuities has served as the chief means of limiting a transferor's power to tie up property by way of successive contingent interests. But recently, at least seventeen jurisdictions in the United States have enacted statutes abolishing the Rule in the case of perpetual (or near-perpetual) trusts. The prime mover behind this important development has been the federal Generation-Skipping Transfer Tax. This Article traces the gradual decline of the common law Rule against Perpetuities, considers the dynamics behind the recent wave of state legislation, examines the problems that might result from the rise …

Corporate And Business Law, C. Porter Vaughan Iii, David I. Meyers, W. Lake Taylor Jr.

University of Richmond Law Review

No abstract provided.

Wills, Trusts, And Estates, J. Rodney Johnson

University of Richmond Law Review

No abstract provided.

Estates & Trusts: 2001 Survey Of Florida Law, Eloisa Rodriguez-Dod

Faculty Publications

This article discusses relevant changes in Florida probate and trust statutes and regulations through mid-2001, updating a prior survey published in 1998. The article highlights and summarizes, some aspects of the elective share provisions and other legislative changes to the Florida Probate Code and Trust Administration Statutes. Amendments to the Florida Probate Rules are also highlighted. Lastly, the article highlights some significant cases decided during mid-2001 that affected this area of the law.

The Uniform Probate Code Extends Antilapse-Type Protection To Poorly Drafted Trusts, Lawrence W. Waggoner

Articles

The Uniform Law Commission' promulgated a revised version of Article II of the Uniform Probate Code (UPC or Code) in 1990, and approved a set of technical amendments in 1993. As Director of Research and Chief Reporter for the Joint Editorial Board for the Uniform Probate Code (Board)2 and reporter for the UPC Article II drafting committee, I was privileged to serve as the principal drafter of these provisions. UPC Article II deals with the substantive rules governing donative transfers - intestacy; spouse's elective share; execution, revocation, and revival of wills; rules of construction for wills and other donative transfers; …

Time Bombs And Pitfalls: Tax Traps And Opportunities That Every Lawyer Should Know, Oregon Law Institute, Joseph W. Schneid, Roy Strowd Jr., Corey Henkelman, Susan T. Burton, Nikki C. Hatton, Neil D. Kimmelfield, Jack C. Walsh, Lewis M. Horowitz

Oregon Law Institute, 1995

Course Materials from the February 17, 1995 Program in Portland

Beating The Grim Reaper, Or Just Confusing Him - Examining The Harmful Effects Of Viatical Settlement Regulation, 27 J. Marshall L. Rev. 581 (1994), Jennifer Berner

UIC Law Review

No abstract provided.

Defamation By Will: Theories And Liabilities, 27 J. Marshall L. Rev. 749 (1994), Paul T. Whitcombe

UIC Law Review

No abstract provided.

Equal Protection: In Re Cooper

Touro Law Review

No abstract provided.

Exoneration Clauses In Wills And Trust Instruments, Robert Whitman

Faculty Articles and Papers

No abstract provided.

Revocation And Revival: An Analysis Of The 1990 Revision Of The Uniform Probate Code And Suggestions For The Future, Robert Whitman

Faculty Articles and Papers

No abstract provided.

Marital Property Rights In Transition, Lawrence W. Waggoner

Articles

The subject of "marital property rights" is very timely because those rights are in a state of transition. The term "marital property rights" covers a vast multitude of rights or interests conferred by law on persons who occupy the status of spouse. This lecture is divided into four discrete, yet related segments. The first segment addresses how the law allocates original ownership between spouses in a marriage. The second segment turns to the intestate share of the surviving spouse. This is not a topic that high-powered estate planners get involved in very much because intestate estates are usually fairly small. …

Legal Issues Confronting Families Affected By Hiv, 24 J. Marshall L. Rev. 543 (1991), James Monroe Smith

UIC Law Review

No abstract provided.

Your Hiv Positive Client: Easing The Burden On The Family Through Estate Planning, 24 J. Marshall L. Rev. 509 (1991), Emily Berendt, Laura Lynn Michaels

UIC Law Review

No abstract provided.

American Family Law In The Age Of Aids: An Annotated Bibliography, 24 J. Marshall L. Rev. 625 (1991), John R. Austin, Rebecca S. Trammell

UIC Law Review

No abstract provided.

The Uniform Statutory Rule Against Perpetuities: Oregon Joins Up, Lawrence W. Waggoner

Articles

Uniform perpetuity reform is on the march, and Oregon has joined the parade. On January 1, 1990, the Uniform Statutory Rule Against Perpetuities (Uniform Act) became effective in Oregon. Although promulgated only three years ago, the Uniform Act has been enacted in over twenty percent of the states and appears to be on its way toward enactment in several others. Prior to the adoption of the Uniform Act, Oregon followed the common-law Rule Against Perpetuities (common-law Rule). Noted for its unjust consequences, the common-law Rule disregards actual events and invalidates a contingent (nonvested) future interest merely on the grounds of …

Property Rights Of Unmarried Cohabitants In New York: Proposal For Legislative Action Towards A More Equitable Future, Helene Kulczycki

Touro Law Review

No abstract provided.