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Articles 1 - 29 of 29
Full-Text Articles in Estates and Trusts
Absent Heirs, Mark Glover
Absent Heirs, Mark Glover
Pepperdine Law Review
The whereabouts of a decedent’s heirs are sometimes unknown, and consequently some inheritances go unclaimed. Generally, most states regulate unclaimed inheritances by naming a custodian to safekeep the inheritance, and if the absent heir fails to claim it within a prescribed time, then the inheritance escheats to the state. The specifics of the law, however, vary considerably across the country, particularly with respect to the identity of the custodian and the length of the custodial period. Moreover, several states take idiosyncratic approaches to absent heirs, which depart significantly from the typical regulation of unclaimed inheritances. Without hard data regarding absent …
Worshiping At The Feet Of Wealth: Self-Settled Asset Protection Trusts And Their Public Policy Implications, Kelsey Massey
Worshiping At The Feet Of Wealth: Self-Settled Asset Protection Trusts And Their Public Policy Implications, Kelsey Massey
The Journal of Business, Entrepreneurship & the Law
The primary concern of this note is summarizing the public policy concerns concerning Domestic Self-Settled Asset Protection Trusts (DAPT) debated by scholars in a concise way and critiquing them. Secondly, this note seeks to compile various alternative structures suggested by scholars. Part I will explain the basic nature of spendthrift trusts and explain the history leading to the current DAPT structure. Part II will briefly explore the differences between Offshore Self-Settled Asset Protection Trusts (OAPTs) and DAPTs. Part III provides an overview of the relevant policy arguments for and against DAPT statutes and an analysis of their relative persuasiveness. Part …
Please Don’T Make Me Pay Taxes: How New Irs Law Helps Art Collectors Avoid Hefty Taxes, Stephanie Dunn
Please Don’T Make Me Pay Taxes: How New Irs Law Helps Art Collectors Avoid Hefty Taxes, Stephanie Dunn
Journal of the National Association of Administrative Law Judiciary
No abstract provided.
The Family Llc: A New Approach To Insuring Dynastic Wealth, Evan Michael Purcell
The Family Llc: A New Approach To Insuring Dynastic Wealth, Evan Michael Purcell
The Journal of Business, Entrepreneurship & the Law
This Article introduces the taxpayer to the basic background principles needed to understand the inner workings of the investment, then provides a guide to drafting considerations for the family's attorney, and concludes with a general plan to maintain business legitimacy and take advantage of tax-favored status, while retaining the flexibility essential to combating the unexpected. Part II addresses the historically favored tax treatment of life insurance products, as well as relatively recent restrictive reforms. Part III addresses the background foundation of the LLC entity and surveys its skeletal structure. Part IV introduces a practical example of how to create an …
Who Killed The Rule Against Perpetuities?, Grayson M. P. Mccouch
Who Killed The Rule Against Perpetuities?, Grayson M. P. Mccouch
Pepperdine Law Review
During the last two decades more than half the states have either abolished or substantially weakened the traditional rule against perpetuities. The increased demand for perpetual trusts is widely attributed to the ability of such trusts to avoid federal wealth transfer taxes. Furthermore, recent empirical studies confirm a correlation between repeal of the rule against perpetuities (coupled with favorable state income tax treatment) and increased personal trust assets and average account size. This symposium article discusses the asymmetric benefits and drawbacks of perpetual trusts and concludes that the decline of the rule against perpetuities cannot be explained solely in terms …
Distracted From Distraction By Distraction: Reimagining Estate Tax Reform, Edward J. Mccaffery
Distracted From Distraction By Distraction: Reimagining Estate Tax Reform, Edward J. Mccaffery
Pepperdine Law Review
Recent legislation has left a gift and estate tax that will apply to far fewer than 1% of all decedents each year. This Article, prepared for a symposium on Tax Advice for the Second Obama Administration, argues that the estate tax has become largely irrelevant, except ironically as a spur to the creation and perpetuation of dynastic wealth via 'Dynasty Trusts.' The tax no longer meets any compelling policy rationale, such as raising revenue, 'backing up” the income tax, injecting progression into the tax system, or breaking up large concentrations of wealth. It is time to move on, and to …
Book Review, David Mckibbin Iii
Trimble V. Gordon: An Unstated Reversal Of Labine V. Vincent?, John A. Boyd
Trimble V. Gordon: An Unstated Reversal Of Labine V. Vincent?, John A. Boyd
Pepperdine Law Review
No abstract provided.
In Search Of A Less Tentative Totten, R. Wayne Estes
In Search Of A Less Tentative Totten, R. Wayne Estes
Pepperdine Law Review
No abstract provided.
Formalities And Formalism: A Critical Look At The Execution Of Wills, Charles I. Nelson, Jeanne M. Starck
Formalities And Formalism: A Critical Look At The Execution Of Wills, Charles I. Nelson, Jeanne M. Starck
Pepperdine Law Review
No abstract provided.
How To Accomplish A Successful Tax-Free Pension Plan Rollover, Steven T. Graham
How To Accomplish A Successful Tax-Free Pension Plan Rollover, Steven T. Graham
Pepperdine Law Review
Advising a client how to accomplish a tax-free rollover from one pension plan to another has been an area of confusion for the general practitioner. In order to end this confusion the author examines recent statutory amendments, Internal Revenue Service rulings and the Employee Retirement Income Security Act. The author then outlines, in conjunction with the recent changes in the law, potential pension plan rollover scenarios that can aid the client. After a thorough discussion of the available rollovers and the benefits and drawbacks of each, the author concludes with a chart designed to provide quick identification of the most …
Oral Will Contracts And The Statute Of Frauds In California, 1896-1980: A Summary And Evaluation , Marc P. Bouret
Oral Will Contracts And The Statute Of Frauds In California, 1896-1980: A Summary And Evaluation , Marc P. Bouret
Pepperdine Law Review
There is no longer any certainty that one can successfully argue that purely oral mutual promises to bequeath property are unenforceable due to the Statute of Frauds. The author traces the trends in the oral will contract area during the past eighty years. He then analyzes various exceptions to the Statute of Frauds which have developed to allow oral will contracts to be enforced during the lifetime of the promisor, or more frequently after his or her death.
The Right Of Publicity: "You Can't Take It With You", Timothy C. Williams
The Right Of Publicity: "You Can't Take It With You", Timothy C. Williams
Pepperdine Law Review
The "right of publicity," a progeny of the right to privacy, has evolved into a valuable property right of the rich and famous. However, indecisive courts and disinterested legislatures have failed to arrive at any consensus on whether the "right of publicity" should be descendible and inheritable upon its owner's death. This comment seeks to evaluate the sundry arguments and policies concerning this issue, and to advocate a freely descendible 'right of publicity."
It Pays To Give It Away - Sometimes: Inter Vivos Charitable Remainder Unitrusts In Estate Planning, Robert G. Popovich
It Pays To Give It Away - Sometimes: Inter Vivos Charitable Remainder Unitrusts In Estate Planning, Robert G. Popovich
Pepperdine Law Review
No abstract provided.
It's All Mine - Or At Least Part Of It Is: A California Look At Property Apportionment Between The Families Of An Interstate And An Intestate's Predeceased Spouse, Robert G. Popovich
It's All Mine - Or At Least Part Of It Is: A California Look At Property Apportionment Between The Families Of An Interstate And An Intestate's Predeceased Spouse, Robert G. Popovich
Pepperdine Law Review
No abstract provided.
A Descendible Right Of Publicity: Has The Time Finally Come For A National Standard?, J. Steven Bingman
A Descendible Right Of Publicity: Has The Time Finally Come For A National Standard?, J. Steven Bingman
Pepperdine Law Review
No abstract provided.
What Happens To Our Facebook Accounts When We Die?: Probate Versus Policy And The Fate Of Social-Media Assets Postmortem, Kristina Sherry
What Happens To Our Facebook Accounts When We Die?: Probate Versus Policy And The Fate Of Social-Media Assets Postmortem, Kristina Sherry
Pepperdine Law Review
More than 580,000 Facebook users in the U.S. will die this year, raising numerous legal questions as to the disposition of their Facebook pages and similar “digital assets” left in a state of legal limbo. While access to and ownership of decedents’ email accounts has been philosophized for nearly a decade, this Comment focuses on the additional legal uncertainties posed by “digital death” in the more amorphous realm of “social media.” Part II explores the implications of digital death by conceptualizing digital assets and surveying the underlying legal principles of contractual policies, probate, property, and privacy concerns. Part III surveys …
The Case For The Retention Of The State Death Tax Credit In The Federal Transfer Tax Scheme: "Just Say No" To A Deduction, John M. Janiga, Louis S. Harrison
The Case For The Retention Of The State Death Tax Credit In The Federal Transfer Tax Scheme: "Just Say No" To A Deduction, John M. Janiga, Louis S. Harrison
Pepperdine Law Review
No abstract provided.
Crummey Trusts: An Exploitation Of The Annual Exclusion, Dora Arash
Crummey Trusts: An Exploitation Of The Annual Exclusion, Dora Arash
Pepperdine Law Review
No abstract provided.
Can Wrongful Death Damages Recovered By A Married Person Be Separate Property Under California Law? , William A. Reppy Jr.
Can Wrongful Death Damages Recovered By A Married Person Be Separate Property Under California Law? , William A. Reppy Jr.
Pepperdine Law Review
No abstract provided.
Institutionalizing Mediation: The Role Of Lawyers And Bar Associations , Ronald R. Volkmer
Institutionalizing Mediation: The Role Of Lawyers And Bar Associations , Ronald R. Volkmer
Pepperdine Dispute Resolution Law Journal
The world of trusts and estates is changing before our eyes - the "multidiscipline practice" trend may radically change the traditional practice of the probate bar. There is one constant, however, besides change and that is conflict. That conflict is oftentimes lurking beneath the surface when a lawyer becomes involved in the estate planning process. All of the technical knowledge you may possess about the legal system and its rules is valuable and necessary. But, the estate planning lawyer is preeminently a counselor at law. In the strongest possible way I urge students to become aware of conflict management skills …
Mediation And Jury Trials As Means Of Resolving Will Contests , Ronald Chester
Mediation And Jury Trials As Means Of Resolving Will Contests , Ronald Chester
Pepperdine Dispute Resolution Law Journal
In the vast range of human problems that law seeks to govern, there are certain areas in which legalisms and legal thinking are not particularly useful. It is my belief that one of these areas is that of will contests, in which nonlawyer dispute resolution seems particularly effective.
Mediation Of Probate Matters: Leaving A Valuable Legacy , Lela Porter Love
Mediation Of Probate Matters: Leaving A Valuable Legacy , Lela Porter Love
Pepperdine Dispute Resolution Law Journal
Mediation has the power to bring parties to a different level of understanding about their underlying situation and about each other, to re-establish family harmony and to resolve both monetary and relationship issues that probate matters generally involve. To realize these advantages, this paper makes two suggestions. First, attorneys should urge testators to consider dispute resolution provisions in their will. Such provisions allow the testator to weigh in with a directive that the family pull together and attempt to resolve its conflicts creatively. A dispute resolution clause can also provide a vehicle to express and encourage family values connected with …
Advantages And Disadvantages Of Mediation In Probate, Trust, And Guardianship Matters , Mary F. Radford
Advantages And Disadvantages Of Mediation In Probate, Trust, And Guardianship Matters , Mary F. Radford
Pepperdine Dispute Resolution Law Journal
Mediation is the ADR process by which a neutral third party works with disputants to reach a mutually agreeable resolution. Mediation is arguably the oldest and most popular ADR technique in use today. Part I of this essay discusses the commonly accepted advantages of mediation as an alternative to litigation, and, in some instances, questions whether those advantages become disadvantages in the context of probate, trust, and guardianship cases. Part II examines the use of mediation as a component of the actual estate planning process rather than as an alternative to litigation.
The Greatest Heritage Is The Love Of A Family: The Larson Case And The Mediation Of Probate Disputes, Susan N. Gary
The Greatest Heritage Is The Love Of A Family: The Larson Case And The Mediation Of Probate Disputes, Susan N. Gary
Pepperdine Dispute Resolution Law Journal
In 1981, two brothers, Ben and William Larson, began litigation that would last for four years. By the time the lawsuit ended, the "winning" brother was dead, and the other brother was bitter and estranged from the family of his only sibling. Although one can only speculate, had the brothers chosen mediation, rather than litigation, to resolve their dispute, both brothers might have achieved a better outcome.
Interstate Competition And State Death Taxes: A Modern Crisis In Historical Perspective , Jeffrey A. Cooper
Interstate Competition And State Death Taxes: A Modern Crisis In Historical Perspective , Jeffrey A. Cooper
Pepperdine Law Review
No abstract provided.
In The Aftermath Of The Terri Schiavo Case: Resolving End-Of-Life Disputes Through Alternative Dispute Resolution, Alisa L. Geller
In The Aftermath Of The Terri Schiavo Case: Resolving End-Of-Life Disputes Through Alternative Dispute Resolution, Alisa L. Geller
Pepperdine Dispute Resolution Law Journal
Imagine yourself the proud parent of an adult daughter. You have spent many years nurturing your precious child so that she may excel in the world. Just as all of your dreams for her are coming true, the news no parent wants to hear was delivered. Your daughter lost control of her car, the vehicle overturned and she was found lying face down in a ditch. You gasped. You expected the worst. A tragic end to a life yet lived. Then, the good news was delivered. You breathed a sigh of relief. You learned she survived. She was in a …
A Holistic Approach To Estate Planning: Paramount In Protecting Your Family, Your Wealth, And Your Legacy, Melissa Street
A Holistic Approach To Estate Planning: Paramount In Protecting Your Family, Your Wealth, And Your Legacy, Melissa Street
Pepperdine Dispute Resolution Law Journal
This comment will take an in-depth look at the art of holistic estate planning. Part II will walk through an overview of how the holistic estate planning process works. Part III will discuss certain familial circumstances that have the most to gain from the holistic approach. Part IV will give a brief overview of other alternatives to litigation and their disadvantages. Part V will conclude this article.
Cook Islands Asset Protection Trust Law, David R. Mcnair
Cook Islands Asset Protection Trust Law, David R. Mcnair
The Journal of Business, Entrepreneurship & the Law
No abstract provided.