Estates and Trusts Commons^™

Will Interviews, Young Family Clients And The Psychology Of Testation, Thomas L. Shaffer

Journal Articles

The psychology of testation—the human content in will interviewing and consequent "estate planning"—is a mixture of attitudes toward death, attitudes toward property, and attitudes toward giving. This article is an attempt to examine this human content in five specific lawyer-client settings. The clients are young married couples with small children; they are people to whom death would seem remote, whose property is skimpy and largely devoted to dependent support, and whose attitudes toward giving are likely to be narrowly focused on members of their immediate families.

Book Reviews, Herman L. Trautman, W. Harold Bigham

Vanderbilt Law Review

THE BEST OF TRUSTS AND ESTATES-ESTATE PLANNING

There are one hundred and four articles arranged in eight chapters entitled, "Estate Planning-A Panoramic View," "Using the Marital Deduction, "Income Tax Planning, " "Making the Most of Gifts,""Minimizing Administration Problems," "How to Handle Business Interests," "Arranging Life Insurance," and "Drafting Wills and Trusts." The citation and date of the original publication of each article is stated, and in many instances there is an addendum by the author which brings the article up to the date of the book. In addition there are excellent introductory commentaries by the editors at the beginning of …

Review Of Michigan And Federal Estate And Tax Planning, By P. Chirco And S. Ward, Douglas A. Kahn

Reviews

Any evaluation of a book of this nature must be made in light of its purpose and its intended audience. The authors recognize that estate and tax planning is too broad a subject to be treated comprehensively in a single volume, and, consequently, they quite properly made no effort in that direction. Rather, their apparent purpose was to furnish the non-specialist with an annotated form book containing textual discussions of tax and estate planning problems, with particular emphasis on local Michigan law.

Succession, John D. Johnston Jr.

Faculty Scholarship

No abstract provided.

Nonestate Planning, Thomas L. Shaffer

Journal Articles

This article proposes and explains a will form for the young and promising, but presently impecunious, Calvin Knox. He is called a "junior executive" by appliance dealers, and his property is called an "estate" by his flatterers. He is really a middle-class, white-collar worker; and what he really has is a nonestate of children and debts.

This article is intended to stimulate argument. Nobody ever argues about Calvin Knox's nonestate. Nobody ever 'discusses' him in public. Practicing lawyers who can afford to write about "estate planning" pay no attention to him. Bar association panels and slick-paper journals leave him to …

The Use Of Business Property As Short-Term Trust Corpus, Robert Doty

Vanderbilt Law Review

A progressive income tax structure encourages the taxpayer with income above his consumption level to attempt to shift income to other members of his family group where it would be taxed at lower rates. The income which the taxpayer desires to shift may be in the form of compensation for services rendered by the taxpayer or of income from income-producing property owned by him...This article seeks to explore the extent to which the benefits of the short-term trust can be secured for this latter class of persons by utilizing business assets as trust corpus in the following manner: (1) by …

The Spouse's Nonbarrable Share: A Solution In Search Of A Problem, Sheldon J. Plager

Articles by Maurer Faculty

No abstract provided.

"In Terrorem" Ne Terreamus, Hugo M. Pfaltz Jr.

Kentucky Law Journal

No abstract provided.

The Division Of Values Approach To Estate Planning, Henry C. Lowenhaupt

West Virginia Law Review

No abstract provided.

Post-Mortem Estate Planning, Or The Maryland Executor's Eight Tax Returns, G. Van Velsor Wolf

Maryland Law Review

No abstract provided.

Drafting Of The Simple Will, Ellis V. Rippner

Cleveland State Law Review

The so-called "simple" will is by far the most common type of will drafted by the attorney. In jest it has been said to be that legal instrument requested by the newly retired business man who wishes to "place his house in order" prior to an extended vacation. Double-parked in front of his attorney's office, he wants the will drafted "instanter" so that he can start his trip with "peace of mind." In fact, seldom does a client suggest that his estate problem requires anything more than a "simple will." In truth, however, no properly drafted will can properly be …

Book Reviews, Ronan E. Degnan, James J. Lenoir (Reviewer), David H. Vernon (Reviewer), David W. Louisell (Reviewer), David Maxwell (Reviewer)

Vanderbilt Law Review

Book Reviews:

Cases and Materials on Evidence, Fourth Edition. By Morgan, Maguide & Weinstein Brooklyn: Foundation Press, 1957. Pp. xxiv,880. $11.00

reviewers: Ronan E. Degnan and David W. Louisell

==================================

Estate Planning and Taxation Two volumes. By William J. Bowe Buffalo: Dennis & Company, Inc., 1957. Vol. I, pp. lvi, 590; Vol. II,pp. viii, 614.

reviewer: James J. Lenoir

===================================

The Sanctity of Life and the Criminal Law By Glanville Williams. New York: Alfred A. Knopf, 1957. Pp. xi, 350. $5.00.

reviewer: David H. Vernon

===================================

Current Legal Problems Edited by G. W. Keeton & G. Schwarzenberger London: Stevens & …

Wills Can Be Made Unbreakable, Ellis V. Rippner

Cleveland State Law Review

So many will contest cases have been filed in the courts in recent years that it almost seems that whenever a will provides for distribution other than in the manner in which the property would descend in the event of intestacy, the probability of a will contest is present. This article will suggest methods by which a client can be given added assurance that his desires will be fulfilled. There are two aspects to consider: first, those methods which we can employ prior to the death of the testator; and second, the precautions we should use in preparing the will.

Book Note, Law Review Staff

Vanderbilt Law Review

Book Note

Tax Planning for Estates (1955 Revision)

By William J. Bowe

Nashville: Vanderbilt University Press, 1955. Pp. 98. $3.00

The Remarried Widow's Power Of Alienation Under The Probate Code

Indiana Law Journal

No abstract provided.

The Non-General Power Of Appointment -- A Creature Of The Powers Of Appointment Act Of 1951, Allan Mccoid

Vanderbilt Law Review

In the course of the past fifty years, during which estate planning has become a specialty rather than one of many jobs handled by the general practitioner, the power of appointment has become an increasingly popular form of gift. The two great advantages which have been claimed for the power are the introduction of great flexibility into the estate plan and the reduction of the tax burden on the property as it passes from one generation to another. It was presumably with both of these objectives in mind that Professor William J. Bowe made a suggestion last year as to …

Advantages And Limitations Of A Power Of Consumption In Testamentary Transfers Of Property

Indiana Law Journal

No abstract provided.

Book Reviews, Harold W. Holt, Harold G. Wren (Reviewer), Walter Chandler (Reviewer), Harold W. Hannah (Reviewer)

Vanderbilt Law Review

Marital Property in Conflict of Laws By Harold Marsh, Jr. Seattle: University of Washington Press, 1952. Pp.

reviewer: Harold Wright Holt

===============================

Life Insurance and Estate Tax Planning By William J. Bowe Nashville: Vanderbilt University Press, November 1952 Revision. Pp. 109.$2.10

reviewer: Harold G. Wren

================================

Caruthers' History of a Lawsuit Seventh Edition by Sam Gilreath Cincinnati: The W. H. Anderson Company, 1951. Pp. 1088. $17.50.

reviewer: Walter Chandler

===============================

Legal Status of the Tenant Farmer in the Southeast By Charles S.Mangum Chapel Hill: University of North Carolina Press, 1952.Pp. viii, 478, $7.50.

reviewer: Harold W. Hannah

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 …

Book Reviews, William J. Bowa, Emmett Conner (Reviewer), Charles K. Cosner (Reviewer), Charles E. Clark (Reviewer), Joseph Trachman (Reviewer)

Vanderbilt Law Review

Minimum Standards of Judicial Administration

Edited by Arthur T. Vanderbilt

Published by The Law Center of New York University for The National Conference of Judicial Councils, 1949. Pp. xxxii,752. $7.50

reviewer: William J. Bowa

=================================

Availability for Work

By Ralph Altman

Cambridge: Harvard University Press, 1950. Pp. 350. $4.50

reviewer: Emmett Conner, Charles K. Cosner

==================================

Forrester's Edition of Dobie and Ladd's Cases and Materials on Federal Jurisdiction and Procedure

By Ray Forrester

St. Paul: West Publishing Co., 1950, Pp. vii, 990. $8.50

reviewer: Charles E. Clark

======================================

Life Insurance and Estate Tax Planning

By William J. Bowe

Nashville: Vanderbilt …

Book Notes, Law Review Staff

Vanderbilt Law Review

BOOK NOTES

The Law of Trusts

By Ralph A. Newman

Brooklyn: The Foundation Press, Inc., 1949. Pp. xi, 452. $4.50

==================================

Estate Planning

By Joseph Trachtman

New York: Practicing Law Institute. 1949 Edition. Paper bound. Pp. i, 170. $2.00

===================================

BOOKS RECEIVED

The Case of General Yamashita

By A. Frank Reel

Chicago: University of Chicago Press, 1949. Pp. v, 324. $4.00

==================================

Cases and Materials on Commercial Law

By Hugh W. Babb and Carl B. Everberg

Brooklyn: The Foundation Press, Inc., 1949. Pp. iii, 963. $6.00

==================================

Cases and Materials on Law and Accounting

By Donald Schapiro and Ralph Wienshienk …

Participation By The Certified Public Accountant In Estate Planning, John G. Larson

Washington Law Review

Since estate taxes and administration costs do not weigh heavily on smaller estates, the accountant generally will not be concerned with planning for persons whose estates consist primarily of life insurance or with community estates of husband and wife with a value under $120,000. It would be appropriate, however, even in those cases, to inquire whether wills have been prepared, how recently, the plan of disposition, and whether the insurance program has been co-ordinated with the testamentary disposition. It is desirable that the clients of every accountant be made more conscious of the importance of estate planning.

The Function Of The Corporate Trustee In The Planning Of Estates, Henry H. Judson

Washington Law Review

With the advent of diversified types of wealth, the increasing complexities of the economic structure, development of legal devices and statutory enactments, changing trends and theories of governmental emphasis on the social fabric through the power of taxation, estate plannmg has become a complex and involved problem, meriting the most careful consideration and best advice obtainable. The basic purpose of any plan for an individual's estate is to provide for the economic settlement of the estate and for its orderly and practical distribution in a manner commensurate with the personal requirements and economic needs of the beneficiaries. There can be …

The Function Of The Lawyer In Estate Planning, Charles I. Stone

Washington Law Review

Inflation and an unprecedented increase in employment and national income have multiplied the number of individuals having at least a modest net worth and therefore the groundwork for an estate. Our staggering national debt has been accompanied by an expanding and intricate pattern of taxation winch takes increasingly more from an increasingly greater group. From the individual's point of view, the only interruption in this trend has been the Revenue Act of 1948. It is probable, if not certain, that the future will bring greater tax demands. The many who have recently acquired actual or potential estates are finding themselves …

The Role Of The Advanced Life Underwriter In The Field Of Estate Planning, Sanford M. Bernbaum

Washington Law Review

Estate planning is a continuing process, never completed, always subject to review and change to reflect altered personal, family, legal, or economic circumstances. The estate plan is fluid and affected by many factors, including the daily business and investment operations of the estate owner. Many kinds of specialized knowledge and experience must be utilized in its original formulation and brought to bear upon a periodic review The professional status of the lawyer, certified public accountant, and trust officer of a recognized bank has been established for many years. Each designation carries with it considerable prestige. In recent years another professional …

The Drafting And Revision Of Wills And Trust Instruments Under The Revenue Act Of 1948, H. D. Battle

West Virginia Law Review

No abstract provided.

Foreword, Mayo A. Shattuck

Vanderbilt Law Review

In order to get a proper measure of modern Estate Planning I think it may be useful to consider, very briefly, some aspects of its history. The family trust was born into our jurisprudence in an environment which had been moulded in that solid and immovable pyramid called feudalism. In that social order there was nothing of imaginative elasticity. Lateral allegiances or entanglements were as little known as lateral movements. All lines of authority moved from the top; all discharges of duties were rendered vertically to the liege lord next above. As with human relationships so also with property. The …

A Symposium On Estate Planning: Foreword, Mayo Adams Shattuck

Vanderbilt Law Review

The power and increasing value of conferences and symposia of the sort which the Vanderbilt Law Review has arranged is that a team of first class men are gathered together to give testimony and useful advice upon the various independent factors which must be taken into account in solution of this fascinating problem. When a group of distinguished scholars and practitioners like those participating in this symposium are willing to make thoughtful contributions to this sort-of round table, without hope of compensation except for the satisfaction that comes from the provision of sound ideas and the education that stems from …

A Planner's Primer, William M. Reynolds

Vanderbilt Law Review

Anyone undertaking an assignment to write within a few pages under this comprehensive title must limit his coverage. This general article on a subject as intangible as estate planning omits entirely or gives short treatment to many considerations which may be of great importance to the conscientious planning of relatively complicated estate situations., Emphasis will be placed on the tax aspects of estate planning, particularly federal taxes, but consideration will be given to other aspects which may be of equal or even greater importance. This deliberate emphasis is certainly not intended to add to the misleading impression, too frequently held, …

Valuation Of The Family Controlled Business For Estate Tax Purposes, James O. Wynn

Vanderbilt Law Review

The starting point in the determination of the federal estate tax is the valuation of the property included in the gross estate.' While the Internal Revenue Code does not use the term "fair market value" in defining the gross estate, the regulations promulgated by the Commissioner of Internal Revenue as an interpretation of the estate tax provisions of the Code provide that "the value of every item of property includible in the gross estate is the fair market value thereof." While a creditable argument could be made that Congress, in using the term "value" in defining the gross estate, intended …