Open Access. Powered by Scholars. Published by Universities.®
- Discipline
- Keyword
-
- Future interest (3)
- Rule against perpetuities (3)
- Executor (2)
- Gift (2)
- Vesting (2)
-
- Will (2)
- Accumulation (1)
- Alienability (1)
- Alienation (1)
- Amendable (1)
- Ames (Dean) (1)
- Annuity (1)
- Arkansas Act 163 (1)
- Bequest (1)
- Chapman v. Cheney (1)
- Clark v. Citizens National Bank of Collingswood (1)
- Class gift (1)
- Constructive trust (1)
- Contingent remainder (1)
- Corporation (1)
- Cy pres (1)
- Death (1)
- Debt (1)
- Definite beneficiary rule (1)
- Delivery requirement (1)
- Dispose (1)
- Distribution (1)
- Distributive choice (1)
- Donative intent (1)
- Duplicate will (1)
Articles 1 - 15 of 15
Full-Text Articles in Estates and Trusts
Future Interests - Rule Against Perpetuities - Recent Statutory Amendment In New York, Paul K. Gaston S.Ed.
Future Interests - Rule Against Perpetuities - Recent Statutory Amendment In New York, Paul K. Gaston S.Ed.
Michigan Law Review
After 128 years of criticism and confusion and enormous amounts of litigation, New York has amended its statutory rule against perpetuities. The old rule provided that the absolute power of alienation could not be suspended for longer, than "two lives in being" at the creation of the estate plus a minority exception in some cases. Under the new rule the absolute power of alienation can be suspended for a period measured by any number of "lives in being" at the creation of the estate so long as they are not "so designated or so numerous as to make proof of …
Personal Property - Gifts - Delivery To Third Party, Thomas A. Dieterich S.Ed.
Personal Property - Gifts - Delivery To Third Party, Thomas A. Dieterich S.Ed.
Michigan Law Review
A husband changed the beneficiary of his life insurance policy from his wife to his mother during a temporary separation and failed to restore his wife as beneficiary after reconciliation. Subsequent to his death the mother, in the presence· of the wife, signed a memorandum "waiving" her policy rights "to" the wife and handed the writing to the insurer's district manager. Before payment of the proceeds the mother discovered that the wife was the beneficiary of another policy and attempted to revoke the memorandum. In insurer's interpleader action, a gift to the wife was recognized. On appeal, held, affirmed. …
Wills - Testamentary Additions To The Corpus Of An Inter Vivos Trust-Recent Judicial And Legislative Developments, Richard I. Singer S.Ed.
Wills - Testamentary Additions To The Corpus Of An Inter Vivos Trust-Recent Judicial And Legislative Developments, Richard I. Singer S.Ed.
Michigan Law Review
The shape of the law relating to testamentary additions to the corpus of an inter vivos trust was outlined in 1951 by Professor George E. Palmer in an article entitled "Testamentary Dispositions to the Trustee of an Inter Vivos Trust." It is the purpose of this comment to consider recent developments in this area. A generalized formulation of the problem to be dealt with is-may a valid bequest be made to the trustee of an inter vivos trust without setting out the terms of the trust in the will?
Taxation - Federal Estate Tax - Insurance And Annuity Combinations, John B. Schwemm S.Ed.
Taxation - Federal Estate Tax - Insurance And Annuity Combinations, John B. Schwemm S.Ed.
Michigan Law Review
Decedent, aged seventy-six, invested in three single premium life insurance policies. Issuance of each was conditioned on the purchase of a single life, nonrefundable annuity of specified value, and no physical examination was required. Each combination was balanced so that the total premium, exclusive of loading charges, equalled the face value of the insurance. The resulting correlation between compound interest and annuity disbursements made the guaranteed payments to the annuitant correspond precisely with the expected income of a reinvestment of the entire deposit by the insurer. Decedent retained the annuity rights, but all present and future interests in the life …
Wills - Devise To Executor For Further Distribution - Application Of Trust And Power Doctrines, William P. Wooden S.Ed.
Wills - Devise To Executor For Further Distribution - Application Of Trust And Power Doctrines, William P. Wooden S.Ed.
Michigan Law Review
This comment is designed to demonstrate the potential. anomalies which exist in traditional thinking in this area and to point up some possibilities for correlation of the hitherto unrelated concepts developed in the trust and power realms.
Conflict Of Laws - Estoppel - Extra-Territorial Effect Of Probate Decree, Thomas A. Hoya S.Ed.
Conflict Of Laws - Estoppel - Extra-Territorial Effect Of Probate Decree, Thomas A. Hoya S.Ed.
Michigan Law Review
Testator, domiciled in California, by his will created a charitable trust of his residuary estate which included lands located in North Dakota. Under California law, the charitable bequest was valid to the extent of only one-third of the residuary estate. Upon distribution of the trust estate by the California court, the charity appeared and received its one-third of the entire residuary property. The trustee then filed with the North Dakota court, asking that the North Dakota land be distributed in accord with the California decree. Since there was no limitation on the validity of the charitable bequest in North Dakota, …
Descent And Distribution - Joint Ownership - Imposition Of Constructive Trust On Murderer Of Co-Tenant, John B. Schwemm S.Ed.
Descent And Distribution - Joint Ownership - Imposition Of Constructive Trust On Murderer Of Co-Tenant, John B. Schwemm S.Ed.
Michigan Law Review
A husband, owning land with his wife as tenants by the entireties, killed her and immediately thereafter committed suicide. In an action to determine ownership of the realty, both the probate and appellate courts declared that since a relevant disinheritance statute was inapplicable, full title vested in the husband and, upon his death, descended to his heirs. On appeal, held, reversed. Despite the common law nature of such tenancies, equity will impose on the husband a constructive trust in one-half the property for the benefit of the victim's estate. National City Bank of Evansville v. Bledsoe, (Ind. 1957) …
Wills - Revocation - Loss Of A Duplicate Will, John W. Gelder
Wills - Revocation - Loss Of A Duplicate Will, John W. Gelder
Michigan Law Review
Testator, who had executed his will in triplicate, retained two originals in his possession, but only one of them could be found after his death. Plaintiff sought to probate this document, but the lower court held that the plaintiff had not rebutted the presumption of revocation arising from the loss or destruction of one duplicate and refused to grant probate. On appeal, held, reversed. The presumption that the testator destroyed one original with an intention to revoke his will is rebutted by the fact the testator had preserved another original in his possession. Jones v. Mason, (La. 1958) …
Should The Rule Against Perpetuities Discard Its Vest?, Daniel M. Schuyler
Should The Rule Against Perpetuities Discard Its Vest?, Daniel M. Schuyler
Michigan Law Review
From what has preceded it is apparent that none of those who would reform the rule against perpetuities, excepting Professor Simes, has suggested that the rule's application to remoteness of vesting alone requires investigation. Yet there is little doubt that this aspect of the rule has caused as much if not more litigation than those which have been so harshly condemned. Proof of this assertion will not be undertaken, for every property lawyer knows how frequently courts are called upon to determine whether for purposes of the rule an interest is "vested" or "contingent." Professor Simes put it well when …
Fiduciary Administration - Nominee Statutes - Transfer Of Securities Held For The Benefit Of Another, Joseph T. De Nicola
Fiduciary Administration - Nominee Statutes - Transfer Of Securities Held For The Benefit Of Another, Joseph T. De Nicola
Michigan Law Review
Michigan is the forty-second jurisdiction to enact a nominee statute. Nominee statutes authorize a fiduciary to nominate a third person to hold stock or securities in the third person's name without giving notice on the stock certificate or on the transfer books of the corporation of his qualified ownership. For the most part it has been assumed that these statutes would facilitate a more rapid transfer of securities. It is the purpose of this comment to compare and analyze these statutes and to determine whether they are the most effective means of accomplishing the end they are intended to serve.
Future Interests - Validity Of Shifting Executory Interest On Event Certain To Occur, Jerome B. Libin S.Ed.
Future Interests - Validity Of Shifting Executory Interest On Event Certain To Occur, Jerome B. Libin S.Ed.
Michigan Law Review
Testator's will provided for alternative devises of his business real estate. If employees of the business exercised an option granted by the will to purchase his partnership interest within eight months after his death, the real estate was to pass to a bank in trust for his daughter and her children. If the option was not exercised within this period, the real estate was to pass to his widow. A residuary clause divided the remainder of his estate equally between his widow, absolutely, and the named bank as trustee. After passage of the eight-month period, testator's daughter sought a declaration …
Should The Rule Against Perpetuities Discard Its Vest?, Daniel M. Schuyler
Should The Rule Against Perpetuities Discard Its Vest?, Daniel M. Schuyler
Michigan Law Review
The venerable rule of property known as the rule against perpetuities has recently been subjected to numerous searching and critical analyses, some of which will presently be discussed. Thus far nothing has been published dealing with, and only Professor Simes has touched upon, what seems to the present writer to be the most serious problem engendered by the common law rule in its commonly accepted form, i.e., the notion that the rule is concerned only with remoteness of vesting. It is the purpose of the present discussion to examine the concept of vesting as related to the rule and to …
Wills - Legacies - Presumption Of Satisfaction Of Debt, Harry D. Krause S.Ed.
Wills - Legacies - Presumption Of Satisfaction Of Debt, Harry D. Krause S.Ed.
Michigan Law Review
Petitioners, the residuary legatees under their father's will, sought an accounting of dividends from stocks and rents from real property belonging to them but which had been collected by their father during his life and commingled with his own assets. The will did not state that the legacy to petitioners was intended to be in satisfaction of claims against the estate. To review an order of the chancellor requiring them to elect between accepting the legacy or prosecuting their claims against the estate petitioners brought certiorari. Held, certiorari granted, order requiring election quashed, and cause remanded. There is no …
Legislation - Future Interests - Extinguishment Of Contingent Remainder Interests In The Unborn, Edward B. Stulberg
Legislation - Future Interests - Extinguishment Of Contingent Remainder Interests In The Unborn, Edward B. Stulberg
Michigan Law Review
Under the somewhat misleading title of "An Act To Permit the Dissolution of Estates Tail and To Permit the Conveyance of Contingent Remainder Interest and To Provide Procedure Therefor," Arkansas has enacted legislation which partially revitalizes an ancient common law rule that other legislatures and courts have been trying to eliminate for some hundred and fifty years-the doctrine of the destructibility of contingent remainders. Arkansas' Act 163 is thus unique among the modern statutes designed to increase the alienability of estates fettered with outstanding future interests.
Fiduciary Administration - Compensation - Extra Compensation And The Rule Against Self-Dealing, David Shute
Fiduciary Administration - Compensation - Extra Compensation And The Rule Against Self-Dealing, David Shute
Michigan Law Review
Respondent was a member of a firm of certified public accountants who were actively engaged in assisting decedent work out his income tax difficulties at the time of his death. Under decedent's will respondent was named executor and trustee along with decedent's lawyer and a trust company. The executors employed respondent's partnership to perform services in connection with the estate. The surviving widow and life beneficiary of the estate filed objections to the account of the executors, urging that the rule against self-dealing on the part of fiduciaries precluded respondent from recovering for services performed as an accountant in addition …