Open Access. Powered by Scholars. Published by Universities.®

Estates and Trusts Commons™

Open Access. Powered by Scholars. Published by Universities.®

University of Michigan Law School

Discipline
Keyword
Publication Year
Publication
Publication Type
File Type

Articles 361 - 390 of 967

Full-Text Articles in Estates and Trusts

Descent And Distribution-Uniform Simultaneous Death Act--Applicability Of Lapse Statute, Edward S. Tripp S.Ed. Jun 1948

Descent And Distribution-Uniform Simultaneous Death Act--Applicability Of Lapse Statute, Edward S. Tripp S.Ed.

Michigan Law Review

H and W were found dead or near death. The will of each left all property to the other. Nephews and nieces survived W while no relatives survived H. W's relatives claimed both estates against a claim of escheat. The lower court found that H survived W and that W's kin were entitled to take under the Maryland lapse statute. On appeal, held, affirmed. Regardless of which party survived, application of the Uniform Simultaneous Death Act and the lapse statute entitled W's relatives to take against the claim of escheat. Mayor and City Council of …

Go to article

Executors And Administrators-Powers Of Executor Prior To The Grant Of Letters Testamentary, R. V. Wellman Jun 1948

Executors And Administrators-Powers Of Executor Prior To The Grant Of Letters Testamentary, R. V. Wellman

Michigan Law Review

Testator's will was probated solely for the purpose of passing title to the real estate involved. There was no request for letters testamentary by those named executors in the will, it being alleged that there was no personal estate necessitating administration. Six days prior to the expiration of the statutory period for commencing such an action, plaintiffs, creditors, started a suit against the persons named as executors for the purpose of extending the lien of their debt against the land in the estate. The defendants appeared specially to question the propriety of the action against them. On appeal from the …

Go to article

Taxation - Federal Income Tax - Choice Of Remedies-Tax Court Or District Court, Samuel N. Greenspoon S.Ed. Jun 1948

Taxation - Federal Income Tax - Choice Of Remedies-Tax Court Or District Court, Samuel N. Greenspoon S.Ed.

Michigan Law Review

Plaintiff, in 1935, purported to set up a trust of $300,000 for the benefit of her infant daughter; and thereafter in 1936 paid the gift tax thereon. She then borrowed from the trustee; (herself and husband) $298,000 of the trust corpus. In 1938 she paid $35,760 interest to the trustees and attempted to deduct it as an expense. This deduction was disallowed and the plaintiff then filed in the Tax Court a petition for redetermination on the ground that the gift tax of 1936 had been erroneously paid and should now be allowed as a credit against the assessed deficiency …

Go to article

Future Interests - Statute Abolishing The Rule In Shelley's Case Applied To The Worthier Title Doctrine, Joseph W. Morris May 1948

Future Interests - Statute Abolishing The Rule In Shelley's Case Applied To The Worthier Title Doctrine, Joseph W. Morris

Michigan Law Review

Plaintiff set up an irrevocable trust of $75,000 to pay the income to himself for life, and upon his death to distribute the remainder of the trust to his heirs at law according to the laws of succession of the State of California in existence at his death. He later brought suit to terminate the trust on the theory that the worthier title doctrine prevented the creation of a remainder in his heirs at law, and that as sole beneficiary of the trust, he was entitled to termination. Held, the worthier title doctrine was inapplicable because of a statute …

Go to article

Taxation-Estate Tax-Reservation Of Power To Amend Trust, Samuel N. Greenspoon S.Ed. May 1948

Taxation-Estate Tax-Reservation Of Power To Amend Trust, Samuel N. Greenspoon S.Ed.

Michigan Law Review

Settlor executed a trust indenture in 1915 whereby a trust was established for the benefit of his three minor children. Income was to be accumulated for the benefit of the three children until they respectively attained majority, and provision was made for the death of any child under 21 without surviving issue. The settlor then reserved "the power from time to time by an instrument in writing signed by me to amend this trust instrument so that it will more clearly express my actual intentions if I shall consider such amendments advisable, as to which I shall be the sole …

Go to article

Wills-Preference For Vesting Under Joint And Mutual Will, L. K. Cooperrider S.Ed. May 1948

Wills-Preference For Vesting Under Joint And Mutual Will, L. K. Cooperrider S.Ed.

Michigan Law Review

Chadwick and his wife executed in 1928 a joint and mutual will containing an express agreement that it should not be changed except by the agreement of both parties. The will then devised and bequeathed "unto the survivor of us . . . all of the property real or personal--of which we may die seized or possessed . . . and the survivor of us in accepting under the will shall be bound to carry out the provisions hereinafter and heretofore set forth. To have and to hold such property and and estate unto the survivor of us, for and …

Go to article

Mcgowan: Trust Receipts, Michigan Law Review Apr 1948

Mcgowan: Trust Receipts, Michigan Law Review

Michigan Law Review

A Review of TRUST RECEIPTS. By George B. McGowan.

Go to article

Witnesses-Dead Man Statutes-Competence Of Spouse Of Party Or Interested Person-Effect Of Divorce, James E. Tobin S.Ed. Mar 1948

Witnesses-Dead Man Statutes-Competence Of Spouse Of Party Or Interested Person-Effect Of Divorce, James E. Tobin S.Ed.

Michigan Law Review

The "Dead Man" statutes, enacted in various forms in almost every state, generally forbid a party or person interested to testify in an action involving a decedent's estate. As is well known, these statutes are the lone survival of the common law rule disqualifying parties and persons interested as witnesses in all actions, a rule which has otherwise been universally repudiated because of the realization that pecuniary interest does not necessarily raise any large probability of falsehood and that, even if it did, the risks of admitting such testimony can easily be minimized and are far outweighed by the advantages …

Go to article

Trusts-Charities-Erection Of Monument, J. Barrett Mar 1948

Trusts-Charities-Erection Of Monument, J. Barrett

Michigan Law Review

Testatrix directed "that my executors . . . erect in the courthouse park at Madera, California, a granite tower . . . to contain a carillon . . . to be placed in the park at a reasonable cost . . . with an inscription . . . to be cut in a conspicuous place on the granite . . . to read as follows: 'Dedicated to the memory of all those . . . who strove to make Madera and Madera County all that it is. John L. Butin, M.D. Mary Ryerson Butin, M.D.'" Held, the devise constituted …

Go to article

Trusts-Rule Against Perpetuities-Tetamentary Trust For Maintenance Of Testatrix' Home As Depository For Ashes Of Testatrix And Daughter, Richard L. Eckhart S.Ed. Mar 1948

Trusts-Rule Against Perpetuities-Tetamentary Trust For Maintenance Of Testatrix' Home As Depository For Ashes Of Testatrix And Daughter, Richard L. Eckhart S.Ed.

Michigan Law Review

Testatrix provided that her body should be cremated, the ashes mixed with the ashes of her deceased daughter, and both placed in a designated room on the second floor of testatrix' home. The executors were directed not to sell the home but to use rentals from the first floor to maintain it, such rentals to be obtained from any member of the Socialist Party whom the executors should find proper and able to pay the rental. Held, the attempted disposition was invalid as a violation of the rule against restraints on alienation. Alexander v. House, (Conn. 1947) 54 …

Go to article

Wills-Failure Of Residuary Clause To Pass Undevised Property, Robert T. Haines Mar 1948

Wills-Failure Of Residuary Clause To Pass Undevised Property, Robert T. Haines

Michigan Law Review

Decedent, in his will, declared that he had, by trust agreement of even date, "disposed of all my intangible personal property, both during the remainder of my lifetime and after my death. Said Trust Agreement does not include within its terms my real estate, my tangible personal property, or any money. . . . This will is, therefore, specifically designed to provide for the distribution of said real estate, tangible personal property, and money." After certain specific gifts decedent directed that, "all the rest and residue of my estate, of every description, real, personal and mixed, and wherever situated," be …

Go to article

Kennedy: Federal Income Taxation Of Trusts And Estates, Michigan Law Review Mar 1948

Kennedy: Federal Income Taxation Of Trusts And Estates, Michigan Law Review

Michigan Law Review

A Review of FEDERAL INCOME TAXATION OF TRUSTS AND ESTATES. By Lloyd W. Kennedy.

Go to article

Wills-Validity Of A Statutory Compromise Of A Will Contest Which Alters Or Reduces Possible Interests Created Under The Will, John M. Veale S.Ed. Feb 1948

Wills-Validity Of A Statutory Compromise Of A Will Contest Which Alters Or Reduces Possible Interests Created Under The Will, John M. Veale S.Ed.

Michigan Law Review

Testator's will created a trust of realty and personalty worth about nine million dollars. Small life annuities, subject to spendthrift provisions, were given to various heirs, with remainder on the death of the survivor of two grandsons to T's "legal heirs." Several years after T's death the heirs filed a bill to construe the will, claiming that it gave them vested remainders in the trust estate. Pending decision, all the present heirs executed an agreement to compromise the controversy which provided for immediate distribution to themselves of six million dollars from the corpus. The agreement was submitted to …

Go to article

Wills-Interpretation-Revoked Will As Admissible Extrinsic Evidence, Daniel W. Reddin, Iii Feb 1948

Wills-Interpretation-Revoked Will As Admissible Extrinsic Evidence, Daniel W. Reddin, Iii

Michigan Law Review

Two nonprofit organizations, Meadville Volunteer Fireman's Relief Association and Paid Firemen's Relief and Pension Association of Meadville, Pennsylvania, claimed a legacy under the will of L. F. Williamson, deceased, "unto the Meadville Firemen's Relief Association, Division No. 43," and at the request of the corporate executor, the court below appointed an auditor to hear testimony to determine which organization was entitled to the legacy. The auditor awarded the legacy to the Volunteer Association after admitting testimony of the attorney who drew the will that wills executed by the testator before the existence of the Paid Association contained a similarly worded …

Go to article

Bills And Notes-Construction Of Negotiable Instruments And Contemporaneous Written Agreements, Ralph J. Isackson Feb 1948

Bills And Notes-Construction Of Negotiable Instruments And Contemporaneous Written Agreements, Ralph J. Isackson

Michigan Law Review

On April 12, 1938, M executed a demand promissory note, negotiable in form, payable to the order of his daughter, the plaintiff. Simultaneously M prepared and attached a written instrument to the note stating that the plaintiff agreed that she would not attempt to collect the note until M died. The attached instruments were delivered to plaintiff immediately after execution. M died May 23, 1945. Plaintiff, who held the instruments from the date of execution without making any demand for payment, filed the note with the defendant, M's administrator, as a claim against M's estate. The defendant objected …

Go to article

Future Interests-Parties-Unborn Persons-Virtual Representation, A. E. Anderson S.Ed. Feb 1948

Future Interests-Parties-Unborn Persons-Virtual Representation, A. E. Anderson S.Ed.

Michigan Law Review

Testator devised land to his six children for life with provision for a division into six equal parcels, and with remainder over to each life tenant's surviving issue. Subsequently, four of the life tenants brought an action against the other two life tenants and the three children of the life tenant then living, and obtained a decree ordering a sale of the land, and requiring each life tenant to file a bond conditioned that he safely keep such portion of his share of the proceeds as would be necessary to, protect the interests of any after-born child. The vendee gave …

Go to article

Wills-Letters As Holographic Wills-Testamentary Intent, Charles M. Soller Feb 1948

Wills-Letters As Holographic Wills-Testamentary Intent, Charles M. Soller

Michigan Law Review

A church trustee offered for probate as decedent's will a letter wholly written, dated, and signed in the handwriting of decedent. The letter was addressed to proponent, and read: "I am sending you a cashier's check for the $5000.00 I wrote you about last week. Now as to my heirs-I have three nieces, and a husband who has had enough. I'm not interested in any of them. If I leave $5.00 or $5,000.00 I want the church to have it." Probate was denied, and proponent appealed. Held, the letter was entitled to probate. De Lapp v. Anderson, .(Ky. …

Go to article

Real Property-Tenancy By Entireties-Estate Created By Parol Gift Followed By A Voluntary Settlement, Ralph J. Isackson Jan 1948

Real Property-Tenancy By Entireties-Estate Created By Parol Gift Followed By A Voluntary Settlement, Ralph J. Isackson

Michigan Law Review

Prior to his death in 1892, X made a parol gift of 60 acres in a 360 acre tract to his daughter, W, or to W and her husband, H, and put them into actual possession but gave them no deed to the land. No evidence was shown to indicate that either W or H had paid the taxes or made any improvements on the land during X's lifetime. X died intestate and left surviving him five children, including W. All the heirs, except W, conveyed the 60 acre tract to W and H in …

Go to article

Statute Of Frauds-Extinguishment Of Beneficial Interest In Constructive Trust In Land, Richard J. Archer Jan 1948

Statute Of Frauds-Extinguishment Of Beneficial Interest In Constructive Trust In Land, Richard J. Archer

Michigan Law Review

In order to increase borrowing capacity the husband conveyed several parcels of land to his wife so as to establish a separate credit for her; parol evidence indicated that the conveyance was for the use of the husband. Subsequently their relations became estranged, and the husband attempted a parol surrender of the parcels to his wife. The New Jersey Statute of Frauds is the counterpart of the English Statute requiring the creation of an express trust to be manifested and proved by writing but excluding from the requirement of writing creations, transfers, or extinguishments by operation of law. In a …

Go to article

Powers-Execution By A General Residuary Clause, John E. Grosboll S.Ed. Dec 1947

Powers-Execution By A General Residuary Clause, John E. Grosboll S.Ed.

Michigan Law Review

Testatrix was given a general testamentary power of appointment over the corpus of a trust by her deceased husband's will. His will further directed that "a general residuary clause in her will shall not be deemed to be an exercise of said power of appointment." Plaintiff was named as a taker in default of appointment. The testatrix died eight years later leaving a will which expressly provided that it was exercising the power of appointment. One paragraph of her will gave several specific bequests from the said trust estate; the paragraph following provided: "All the rest, residue and remainder of …

Go to article

Trusts--Constructive Trusts--Effect Of Inter-Vivos Transfer Of Land On Oral Trust To Reconvey To Transferor, Ira M. Price, Ii S.Ed. Dec 1947

Trusts--Constructive Trusts--Effect Of Inter-Vivos Transfer Of Land On Oral Trust To Reconvey To Transferor, Ira M. Price, Ii S.Ed.

Michigan Law Review

Plaintiff, who had courted defendant for six years and had proposed marriage, conveyed a lot and house to defendant after various discussions and immediately upon the written suggestion of defendant. Later their romance terminated when she went abroad and plaintiff turned his attention to another woman. In a suit to cancel deed to the premises, held, that because of the confidential relationship which had existed between the parties and in order to prevent defendant from "completing her fraud," defendant held title as constructive trustee for plaintiff. Kausky v. Koten, (Wash. 1947) 179 P. (2d) 950.

Go to article

Trusts--Constructive Trust--Tracing Funds Into The Hands Of An Innocent Payee-Antecedent Debt As Value, James R. Bliss S.Ed. Nov 1947

Trusts--Constructive Trust--Tracing Funds Into The Hands Of An Innocent Payee-Antecedent Debt As Value, James R. Bliss S.Ed.

Michigan Law Review

Plaintiffs advanced $3,200 to X intending to make a loan to Y secured by Y's note and mortgage. X delivered to plaintiffs a note and mortgage to which he had forged Y's name, and deposited $3175 of the money in his personal bank account, which theretofore had shown a balance of $7.09. Two days later, and before any other deposits were made, X withdrew $1000 from his account by check, with which he purchased a draft payable to defendant. This he delivered to defendant in satisfaction of a debt he owed defendant. Eighteen months later X died, plaintiffs …

Go to article

Wills-Incorporation By Reference-Comparison With Secret Trusts And Acts Of Independent Significance, T. L. Tolan, Jr. S.Ed. Nov 1947

Wills-Incorporation By Reference-Comparison With Secret Trusts And Acts Of Independent Significance, T. L. Tolan, Jr. S.Ed.

Michigan Law Review

Legal doctrines have been developed to define the extent to which events outside the will itself may control the testamentary dispositions. Incorporation by reference, acts of independent significance, and secret trusts are related in their concern with testators' attempts to determine major parts of testamentary schemes by acts not written on the attested paper first presented for probate. The present discussion investigates the degree to which the courts adhere to the definitions of these doctrines and the traditional distinctions between them.

Go to article

Future Interests-Powers Of Appointment-Formalities Required For Release, George A. Rinker S.Ed. Nov 1947

Future Interests-Powers Of Appointment-Formalities Required For Release, George A. Rinker S.Ed.

Michigan Law Review

Deceased had a general testamentary power of appointment over the corpus of a trust, which provided for a gift over to his heirs in default of appointment. Prior to his death, he executed a written document, under seal and for consideration, whereby he released the power, and further covenanted with the trustee who held the property, and with the individual takers in default, that he would not thereafter attempt to exercise the power. He delivered the document to the trustee, for itself, and as trustee for each individual taker in default. Held, the transaction effected a valid release of …

Go to article

Wills--Construction-Testamentary Intent, J. R. Swenson Jun 1947

Wills--Construction-Testamentary Intent, J. R. Swenson

Michigan Law Review

In a will drawn for her by a layman, testatrix inserted in her own words a clause reading, "It is my belief that 120 acres . . . owned by my deceased husband, John Cagley, subject to a life estate willed to me, be distributed to his four nieces and nephews . . . . " In fact, her husband's will had not specifically disposed of the remainder, and testatrix had in addition to the life estate, taken the remainder as residuary devisee. Held, The clause was a valid devise of the property to the four named beneficiaries. Layton …

Go to article

Gifts--Banking--Gift Of Joint Savings Bank Deposits, Ira M. Price, Ii Jun 1947

Gifts--Banking--Gift Of Joint Savings Bank Deposits, Ira M. Price, Ii

Michigan Law Review

A, the mother of B, transferred three savings bank deposits from her sole account to the account of "A or B-either or survivor." Two of the depositors' signature cards contained this language: ''We hereby certify that this account and all moneys to be credited to it belong to us as joint tenants, and will be the absolute property of the survivor of us." There was evidence that one of the reasons for A's transferring her deposits to the joint account was to enable B to draw money therefrom for A while A was in the …

Go to article

Trusts-Language Of Condition In Inter Vivos Conveyance Construed As A Trust, Bruce L. Moore Jun 1947

Trusts-Language Of Condition In Inter Vivos Conveyance Construed As A Trust, Bruce L. Moore

Michigan Law Review

Grantor conveyed certain real property to plaintiff by deed "subject to the following conditions: That upon my death, the Grantee must pay to my Grand Children out of my estate, the sums of money indicated after each name," the amount to be paid totaling $5,000. By this deed grantor transferred practically all of the property of which she was possessed, so that upon her death she left an estate of but $100. Without having paid any part of the amount stipulated in the deed, grantee commenced suit to quiet title as against the named grandchildren, who in .turn counterclaimed. In …

Go to article

Descent And Distribution-Necessity Of Administration Of Decedents' Estates-Effect Of Statutes Which Change The Devolution Of Personal Property, Neal Seegert S.Ed. May 1947

Descent And Distribution-Necessity Of Administration Of Decedents' Estates-Effect Of Statutes Which Change The Devolution Of Personal Property, Neal Seegert S.Ed.

Michigan Law Review

It is almost an axiom of the common law that upon the death of a person the title to his personal property vests in his personal representative. On the other hand it is equally axiomatic that title to real property descends directly to the heirs or devisees, subject to the control of the personal representative and the probate court for purposes of satisfying the debts of the decedent in the absence of sufficient personalty. A number of jurisdictions, however, have by statute altered the common-law doctrine and have provided that title to both personalty and realty passes directly to the …

Go to article

Deeds-Testamentary Character, James R. Bliss S.Ed. May 1947

Deeds-Testamentary Character, James R. Bliss S.Ed.

Michigan Law Review

In 1929 J. J. Coulter and wife signed, acknowledged, and delivered to be recorded an instrument granting in customary form certain described land to their daughter, Eliza Coulter. The instrument then recited, "It is understood between the parties hereto that the grantors are to have the possession, control and occupancy of said lands during their natural life, and at their death the title to said lands shall vest in the said Eliza Coulter, but not until the death of both grantors herein, does the title pass." The present action, presumably instituted after the death of the makers, sought construction of …

Go to article

Reformation Of Instruments-Mistake-Deed Of Married Woman, Eugene H. Lattin May 1947

Reformation Of Instruments-Mistake-Deed Of Married Woman, Eugene H. Lattin

Michigan Law Review

In 1887 one Evans deeded to Mattie Woodbridge a lot described in the deed as lot 31, believing that the lot described was lot 29. Mattie took possession of lot 29, and held it until October 7, 1913, when she deeded it by the same description as in the original deed to one Casto, an intermediary, who then deeded it to William, Mattie's husband. Husband and wife continued in possession of lot 29 until her death in 1919. Lot 31, the lot described in the deed of 1887, continued in the possession of Evans and his successors until 1905, when …

Go to article

First Prev Next Last