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Articles 241 - 270 of 967

Full-Text Articles in Estates and Trusts

Descent And Distribution - Distribution To A Nonresident Alien Prevented By State Staute, Eugene Alkema S.Ed. Nov 1954

Descent And Distribution - Distribution To A Nonresident Alien Prevented By State Staute, Eugene Alkema S.Ed.

Michigan Law Review

Decedent's sole heirs were residents of Poland. By virtue of a power of attorney executed and authenticated in Poland, the Polish consul general intervened to receive their distributive shares. A Massachusetts statute provided that a court may order the distributive share to be deposited for the benefit of nonresidents when it appears that they "may not receive or have opportunity to obtain" such money. Held, the distributive shares must be kept in Massachusetts as it is uncertain that residents of Poland presently could have full benefit of the funds if transmitted. Petition of Mazurowski, (Mass. 1954) 116 N.E. …

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Creation Of Joint Rights Between Husband And Wife In Personal Property: Ii, R. Bruce Townsend May 1954

Creation Of Joint Rights Between Husband And Wife In Personal Property: Ii, R. Bruce Townsend

Michigan Law Review

The net effect of the general legislation pertaining to the creation of joint tenancy has been to make lawyers sensitive to language expressing an intent to create joint tenancy, tenancy by the entireties and other types of survivorship rights which may or may not fall within the foregoing concepts. And so the law has busied itself with the task of giving technical meanings to words used by members of the public in their efforts to create joint rights in property-a task that has not been fully appreciated by people who acquire personal property from bankers, brokers, clerks and the like …

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Taxation-Federal Estate Tax-Relevance Of Marital Deduction To Computation Of Widow's Distributive Share Of Husband's Estate Where She Elects To Take Against Will, Alice Austin May 1954

Taxation-Federal Estate Tax-Relevance Of Marital Deduction To Computation Of Widow's Distributive Share Of Husband's Estate Where She Elects To Take Against Will, Alice Austin

Michigan Law Review

A widow electing to take against her husband's will claimed to be entitled to have her one-third share of decedent's net personal estate computed without deduction of federal estate taxes, on the theory that Congress in allowing the marital deduction intended that a widow's share qualifying for such deduction should be free of the impact of the federal estate tax. The state had no statute providing for apportionment of federal estate taxes. Held: Congress did not intend, by allowing the marital deduction, to change the rule that state law is determinative of the impact of the federal estate tax. …

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Wills-Construction-Effect Of Precatory Words Relating -To Disposition Of Property On Donee's Death, Donald M. Wilkinson, Jr. May 1954

Wills-Construction-Effect Of Precatory Words Relating -To Disposition Of Property On Donee's Death, Donald M. Wilkinson, Jr.

Michigan Law Review

After two bequests, each of an absolute interest in one-third of her property, to a niece and a nephew, testatrix bequeathed the remaining one-third of her estate to her husband " ... to have and to hold subject to the request hereinafter stated. It, however, is my wish and desire and I charge my said husband ... to make disposition ... so that it will not pass to his heirs upon his death, but shall revert, after his death, to my heirs and be distributed to the legatees named in subparagraphs A. and B. of this clause Eighth ... subject, …

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Defeasance As A Restrictive Device In Michigan, William F. Fratcher Feb 1954

Defeasance As A Restrictive Device In Michigan, William F. Fratcher

Michigan Law Review

Quite apart from any question of their validity, the imposition of use restrictions by means of a prohibition was not practicable before the development of equitable remedies because the common law afforded no method of enforcing such a prohibition. One who conveyed land in violation of a prohibition on alienation might attempt to enforce the prohibition by attacking the validity of his own conveyance but one who violated a prohibition on use had neither motive nor method for challenging his own acts. Hence attempts to restrict use by common law devices are necessarily confined to penalty restraints and to limitations …

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Future Interests - Restraints On Alienation - Same Rules Applicable To Restraints On Future And Possessory Interests, Chester F. Relyea S.Ed. Feb 1954

Future Interests - Restraints On Alienation - Same Rules Applicable To Restraints On Future And Possessory Interests, Chester F. Relyea S.Ed.

Michigan Law Review

Testator devised real estate to his wife for life, remainder to his children, "with the following understanding," that should any child attempt to dispose of his interest before the death of the testator's wife, that child would forfeit his share and it would go to the remaining children. After the death of the testator, but before the death of his widow, one son conveyed away his interest in the property. In a suit for the partition of the real estate devised by the testator; held, on appeal, restraints on the alienation of vested estates in fee simple are against …

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Advancements: Iii, Harold I. Elbert Feb 1954

Advancements: Iii, Harold I. Elbert

Michigan Law Review

Many states have statutes which provide that support, maintenance and education of a child will not be considered an advancement unless the parent intended it as such. The Kentucky statute is typical and it reads in part as follows: " . . . the maintaining or educating or the giving of money, to a child or grandchild without any view to a portion or settlement in life, shall not be deemed an advancement." Most states do not have statutes of that type but by judicial decision reach a result that is in accord with the statutory provision just quoted.

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Trusts - Validity And Effect Of Assignment Of Beneficial Interest In Trust For Support - Claims Of Beneficiary's Divorced Wife And Children, William E. Parmenter Jr. Feb 1954

Trusts - Validity And Effect Of Assignment Of Beneficial Interest In Trust For Support - Claims Of Beneficiary's Divorced Wife And Children, William E. Parmenter Jr.

Michigan Law Review

A testamentary trust required the trustee to apply income in such amounts as might be necessary for the education, support and maintenance of H until he attained the age of 35 years; then to hand over the corpus and accrued interest. Contingent interests were created for children of H who might survive his death before the age of 35. After the death of testatrix, H married W and had two children. In an agreement subsequently incorporated in a California decree of divorce obtained by W, H promised to make monthly payments to W for her own support and for the …

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Perpetuities And Other Restraints: A Study Of The Michigan Statutes And Decisions Relating To Perpetuities And Other Devices Which Fetter The Alienability Of Property, Against The Background Of The Laws Of England And Other American Jurisdictions, William F. Frachter Jan 1954

Perpetuities And Other Restraints: A Study Of The Michigan Statutes And Decisions Relating To Perpetuities And Other Devices Which Fetter The Alienability Of Property, Against The Background Of The Laws Of England And Other American Jurisdictions, William F. Frachter

Michigan Legal Studies Series

The central theme of this study comprises the judicial and legislative rules developed to restrict attempts by men of property to endow their families in perpetuity, usually with land, in such manner that each successive living generation can neither part with the property nor prevent unborn generations from succeeding to it. Part One deals with attempts to accomplish this object by bestowing the whole title on each living generation but denying each such generation the power to dispose of the property or to prevent its· descent to the next generation. In this part the principal restrictive rules are judicial, the …

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Future Interests - Rule Against Perpetuities - Actual Rather Than Possible Facts As Determining Certainty Of Vesting, Paul B. Campbell S.Ed. Dec 1953

Future Interests - Rule Against Perpetuities - Actual Rather Than Possible Facts As Determining Certainty Of Vesting, Paul B. Campbell S.Ed.

Michigan Law Review

T died testate, leaving a life estate to her children A and B, with the remainder to granddaughter C. The will further provided that if other body heirs of A and B survived their deaths, then such heirs should share equally with C; and if all the grandchildren should die without leaving heirs of their body, then the property was to pass to T's brothers and sisters or their representatives. A and B survived but T died without further issue. Later C also died without issue. X held conveyances deeding to him the interests of the …

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Wills - Enforcement Of Parol Contract To Devise Real Property, John S. Slavens S.Ed. Dec 1953

Wills - Enforcement Of Parol Contract To Devise Real Property, John S. Slavens S.Ed.

Michigan Law Review

Plaintiffs and decedent made an oral agreement whereby plaintiffs agreed to pay decedent a yearly sum and to make repairs on certain real estate in return for which decedent agreed to devise the real estate to plaintiffs. Plaintiffs had been in possession of the property for several years and had vastly improved its value when decedent died, devising the property to third parties. Plaintiffs brought this action for specific performance against the devisees. The trial court, satisfied that the oral contract had been established, entered the decree for specific performance. On appeal, held, affirmed. A person can make a …

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Is The Rule Against Perpetuities Doomed?, Lewis M. Simes Dec 1953

Is The Rule Against Perpetuities Doomed?, Lewis M. Simes

Michigan Law Review

Few rules of the common law have shown such amazing vitality as the rule against perpetuities. Emerging in the Duke of Norfolk's Case in 1682, as a rule to restrict unbarrable entails in land, it is now applied, not only to interests in land, legal and equitable, but also to personal estate, tangible and intangible, including beneficial interests in trusts. It is regarded as a part of the common law of nearly every English speaking country, except a few of the United States where statutory substitutes have been provided. Since 1930, statutory substitutes have been abolished and there has been …

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Advancements: Ii, Harold I. Elbert Dec 1953

Advancements: Ii, Harold I. Elbert

Michigan Law Review

A voluntary inter vivos transfer by a parent to a child is not an advancement so long as the transferor lives. The purpose of the doctrine is to equalize an intestate' s property among his children. It is auxiliary to the distribution of his estate that the question of advancement is raised. The death of the transferor is not enough to give rise to the doctrine. The person seeking to charge the intestate's heirs with an advancement must prove several additional facts. The legislation of each state determines what must be proved in order to charge the transferee with an …

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Sales - Uniform Trust Receipts Act - Strict Requirement Of Accuracy In Designating Trustee In Filing Under The Act, John W. Hupp S.Ed. Nov 1953

Sales - Uniform Trust Receipts Act - Strict Requirement Of Accuracy In Designating Trustee In Filing Under The Act, John W. Hupp S.Ed.

Michigan Law Review

Plaintiff and E. R. Millen Co., Inc., entered into a financing arrangement whereby plaintiff agreed to finance the wholesale purchase of various types of electrical appliances by E. R. Millen Co., Inc. Plaintiff promptly recorded a statement of trust receipt financing setting forth that the plaintiff "is or expects to be engaged in financing under trust receipt transactions the acquisitions by the trustee, E. R. Millen Company." The statement then designated the trustee's business address. This trust receipts arrangement was in operation for about a year when E. R. Millen Co., Inc., made a general assignment of all of its …

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Securities - Application Of Antideficiency Judgment Statute To Second Purchase Money Trust Deed Where Security Is Exhausted By Foreclosure Of First Deed, John Houck S.Ed. Nov 1953

Securities - Application Of Antideficiency Judgment Statute To Second Purchase Money Trust Deed Where Security Is Exhausted By Foreclosure Of First Deed, John Houck S.Ed.

Michigan Law Review

To secure the purchase price of land, defendant executed a promissory note and first deed of trust in favor of a savings and loan association, and a second note and deed in favor of plaintiff-vendor. On default of both obligations, the savings and loan association foreclosed upon the land. The resulting sale completely exhausted the security, and plaintiff brought the present action upon his note. Defendant interposed section 580b of the California Code of Civil Procedure, which specifies that "no deficiency judgment shall lie in any event after any sale of real property for failure of the purchaser to complete …

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Notes, Michigan Law Review Nov 1953

Notes, Michigan Law Review

Michigan Law Review

The information given in the notes is derived from inspection of the books, publishers' literature, and the ordinary library sources.

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Taxation-Federal Estate Tax-Taxability Of Joint And Survivor Annuity Paid Pursuant To Pension Plan, Lawrence M. De Vore S.Ed. Jun 1953

Taxation-Federal Estate Tax-Taxability Of Joint And Survivor Annuity Paid Pursuant To Pension Plan, Lawrence M. De Vore S.Ed.

Michigan Law Review

Under a pension and retirement plan, decedent had the option of receiving a pension for life or a smaller pension while both he and his wife lived, with two-thirds of such reduced pension payable to the survivor for life. On decedent's normal retirement date he chose the latter. Decedent did not retire but continued working until his death. His wife was then entitled to receive a monthly income for life under the pension plan. The Commissioner of Internal Revenue determined that the value of the wife's annuity should be included in the decedent's gross estate. Plaintiff instituted action for refund …

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Trusts-Creation-Significance Of Creation Of Honorary Trust By Inter Vivos Transfer, John W. Hupp S.Ed. May 1953

Trusts-Creation-Significance Of Creation Of Honorary Trust By Inter Vivos Transfer, John W. Hupp S.Ed.

Michigan Law Review

Settlor made an inter vivos transfer of certain property in trust for a specified period with directions that the trustees should, in accordance with their own discretion, apply the income of the trust fund toward all or any of several specified purposes. These purposes included the "establishment ... of good understanding, sympathy and co-operation between nations," "the preservation of the independence and integrity of newspapers," and "the protection of newspapers ... from being absorbed or controlled by combines." Summons was taken out by the settlor to have the validity of the trusts determined. Held, the trusts were void because …

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Rights Accruing To A Husband Upon Marriage With Respect To The Property Of His Wife, James W. Day Apr 1953

Rights Accruing To A Husband Upon Marriage With Respect To The Property Of His Wife, James W. Day

Michigan Law Review

Attention is directed in this article to the principles of the common law and the features of the subsequent developments that are believed to be of greatest current value either because the particular doctrine still persists or because it aids in the evaluation of a precedent for use in a legal background that differs from that of the period or jurisdiction in which the decision was rendered.

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Future Interests-Powers Of Appointment-Exclusive And Nonexclusive Powers And The Doctrine Of Illusory Appointments, John Houck S.Ed Apr 1953

Future Interests-Powers Of Appointment-Exclusive And Nonexclusive Powers And The Doctrine Of Illusory Appointments, John Houck S.Ed

Michigan Law Review

Testatrix, after making certain specific bequests, devised the residue of her estate to her son George for life. The will stated that upon the death of George, the property should pass to his widow and descendants, "provided, however, that [George] may devise his interest to his widow, his descendants or my descendants." The will further provided that if George should die leaving no widow or descendants, and without having made a testamentary disposition, the property was to pass one-half to George's brother and his descendants, and one-half to a sister. George died without having married and left a will which …

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Obtaining The Gift Tax Exclusion On Gifts In Trust: Drafting And Legislative Suggestions, Zolman Cavitch Mar 1953

Obtaining The Gift Tax Exclusion On Gifts In Trust: Drafting And Legislative Suggestions, Zolman Cavitch

Michigan Law Review

The purposes of this article are to outline the "future interest" pitfalls in the use of various conventional trust provisions, to explore remedial drafting possibilities even under the present law, and to suggest a statutory amendment which will eliminate the fundamental defects of the present poorly-drafted law.

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Advancements: I, Harold I. Elbert Mar 1953

Advancements: I, Harold I. Elbert

Michigan Law Review

The purpose of this monograph is to consider the afore-mentioned topics and other questions inherent in the doctrine of advancements. Different interpretations in the various states will be discussed. The principal objectives of the work are to make a comparative study of advancement legislation and to state the law as it actually exists as a basis for determining whether it can be improved.

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Real Property-Construction Of Deeds-Effect Of Phrase "And/Or Survivor" Following Names Of Grantees, Gene E. Overbeck S.Ed. Mar 1953

Real Property-Construction Of Deeds-Effect Of Phrase "And/Or Survivor" Following Names Of Grantees, Gene E. Overbeck S.Ed.

Michigan Law Review

The receiver of a bank deeded land "to Alfred Carothers and Delarma Hackett, or survivor." Plaintiff, Hackett's grantee, brought an action for construction of the deed. On appeal, held, the deed conveyed a moiety to each for life with remainder to the survivor in fee, and neither grantee, by a conveyance during his lifetime, could cut off the contingent remainder. Rowerdink v. Carothers, 334 Mich. 454, 54 N.W. (2d) 715 (1952).

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Retroactive Legislation Affecting Interests In Land, John Scurlock Jan 1953

Retroactive Legislation Affecting Interests In Land, John Scurlock

Michigan Legal Studies Series

Professor Scurlock's monograph covers an area of the law which is commonly by-passed in treatises and in classroom instruction. If we could merely tear Maitland's "seamless web" of the law and retain all the shreds, no part of the legal system would escape us. What we actually do, however, is to set up, in a more or less arbitrary fashion, numerous centers of legal classification, such as contracts, torts, property and constitutional law, to which closely related legal materials are attracted as to a magnet. But those legal materials which stand midway between two centers of attraction are likely to …

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The Cy Pres Doctrine And Changing Philosophies, Edith L. Fisch Jan 1953

The Cy Pres Doctrine And Changing Philosophies, Edith L. Fisch

Michigan Law Review

The cy pres doctrine arose so far back in antiquity that its origins are obscure. Apparently it was known and used in Roman law, for an application of the cy pres doctrine is reported in the Digest of Justinian. In the early part of the third century a city received a legacy bequeathed for the purpose of commemorating the memory of the donor by using the income of the legacy to hold yearly games. As such games were illegal at that time a problem arose concerning the disposition of the legacy. Modestinus, a well known jurist, found the solution.

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Future Interests-Construction-When Class Closes In Case Of Per Capita Class Gift, William K. Davenport S.Ed. Dec 1952

Future Interests-Construction-When Class Closes In Case Of Per Capita Class Gift, William K. Davenport S.Ed.

Michigan Law Review

Testator died in 1928 leaving an estate of $10,000,000. His will provided that each of his grandsons, two of whom were alive at his death, was to receive the income of a $100,000 trust for life. The residue of his estate was left in another trust and was to remain intact until the expiration of 21 years after the death of testator's last surviving grandchild living at the time of his death. Meanwhile the income from this trust was to go to various other legatees. When another grandson was born in 1949, the question arose whether a $100,000 trust should …

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Fiduciary Aministration-Executors And Aministrators-Inventory Not A Condition Precedent To Recovery Of Assets, Carl S. Krueger S.Ed. Dec 1952

Fiduciary Aministration-Executors And Aministrators-Inventory Not A Condition Precedent To Recovery Of Assets, Carl S. Krueger S.Ed.

Michigan Law Review

In a suit by an administrator to recover funds claimed to be part of the decedent's estate, the defendant's answer alleged that the suit had been commenced prior to compliance with a statute requiring an inventory of the assets of the estate. On appeal by the administrator from the trial court's holding that filing an inventory of a claim is a condition precedent to a suit thereon, held, reversed. While an inventory is the basis of subsequent probate proceedings, title to personal assets of the decedent vests in the administrator when he qualifies, and he may sue on claims …

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Apportionment Of The Federal State Tax In The Absence Of Statute Or An Expression Of Intention, William P. Sutter Nov 1952

Apportionment Of The Federal State Tax In The Absence Of Statute Or An Expression Of Intention, William P. Sutter

Michigan Law Review

Federal law now provides in sections 826 (c) and (d) of the Internal Revenue Code that life insurance and property transferred by appointment shall bear their proportionate tax burden. It does not contain similar provisions with respect to other types of non-probate property. At the present time, twenty states provide by statute for some sort of apportionment of estate taxes. Two states have statutes restricting apportionment in some degree. In the rest, the matter rests in the discretion of the courts. I propose to discuss in this article the situation in those areas where no statutory guidance exists.

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Banks And Banking-Deposits-Resulting Trusts Under The Contract Theory Of Joint Bank Accounts, Warren K. Urbom S. Ed. Nov 1952

Banks And Banking-Deposits-Resulting Trusts Under The Contract Theory Of Joint Bank Accounts, Warren K. Urbom S. Ed.

Michigan Law Review

A husband carried a bank account in his own name. Subsequently, he and his wife signed a signature card at the bank upon which appeared the following: 'We agree . . . that all funds now, or hereafter, deposited to this account are, and shall be, our joint property and owned by us as joint tenants with right of survivorship, and not as tenants in common; and upon the death of either of us any balance . . . shall become the absolute property of the survivor. The entire account or any part thereof may be withdrawn by . . …

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Real Property-Tenancy By Entireties-Creation By Deed From Husband To Husband And Wife, Richard P. Matsch S. Ed. Nov 1952

Real Property-Tenancy By Entireties-Creation By Deed From Husband To Husband And Wife, Richard P. Matsch S. Ed.

Michigan Law Review

H owned real estate in fee simple. His wife, W, joined with him in a warranty deed conveying the land to themselves with the expressed intention of creating a tenancy by entireties. H died and his heirs challenged W's right to take the fee by survivorship. The trial court held that a tenancy by entireties had been created and the wife properly took the fee. On appeal, held, affirmed, one judge dissenting. An Arkansas statute providing that a married man may convey "the interest specified in the deed" directly to his wife permits a husband, already owner …

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