Estates and Trusts Commons^™

Nestlé V. Doe: A Death Knell To Corporate Human Rights Accountability?, Phillip Ayers

Seattle University Law Review

The Supreme Court in Nestlé v. Doe held that foreign plaintiffs who claimed to be victims of overseas tortious conduct by corporate defendants had no jurisdiction to sue in federal courts using the Alien Tort Statute. This Comment looks at the history of the Alien Tort Statute, from its inspiration, long dormancy, and recent reinvigoration beginning in the 1980s. The Comment then explores the background of Nestlé and its issues with child slavery in its cocoa supply chain. From there, the Comment analyzes the Nestlé v. Doe decision, and posits an alternative outcome. Finally, this Comment looks for a new …

Wills, Trusts, And Estates : A Contemporary Approach (2023), Lloyd Bonfield, Joanna L. Grossman, William P. Lapiana

Books

is casebook is designed to present in a comprehensive yet streamlined fashion the law of Wills, Trusts, and Future Interests to 21st–century law students. It assists the student in developing an understanding of the core legal concepts critical to a grasp of wills, trusts and future interests in a novel format that is clear and easy to understand, while maintaining the intellectual rigor of the subject. The book covers the standard topics, but is organized in an innovative fashion. It begins with an estate planning problem which introduces the student to the craft of the practitioner, providing context for the …

Tenancy By The Entirety Property And Transfers To Trusts, Julie M. Cheslik

Faculty Works

Lawyers practicing in the area of matrimonial law encounter the structuring of property transactions as their clients contem­plate marriage, during the marriage, and upon dissolution of the marriage. At all three periods in the life of a marriage, whether for creditor asset protection purposes, estate planning purposes, or dissolution purposes, whether and how to deviate from the state's default property laws is of utmost concern for the matri­monial lawyer. Of special concern is how default laws intended to protect the spouses' marital estate from creditors - including the tenancy by the entirety estate - may be implicated or abro­gated by …

Corporate Governance And Gender Equality: A Study Of Comply-Or-Explain Disclosure Regulation, Aaron A. Dhir, Sarah Kaplan, Maria Arabella Robles

Seattle University Law Review

In 2020, the Nasdaq Stock Market filed a proposal with the U.S. Securities and Exchange Commission seeking permission to adopt a board diversity-related disclosure requirement for its listed companies. In 2021, the SEC approved the proposal, thus entrenching Nasdaq’s position as the most significant stock exchange to date to mandate listing rules that reflect the intention of diversifying corporate boardrooms. Nasdaq’s movement into the diversity space is not the first attempt to address homogeneous boards in the U.S. In 2009, the SEC adopted a rule requiring publicly traded firms to report on whether they consider diversity in identifying director nominees. …

Judicial Ethics And The Eradication Of Racism, Dontay Proctor-Mills

Seattle University Law Review

In 2020, the Washington Supreme Court entrusted the legal community with working to eradicate racism from its legal system. Soon after, Washington’s Commission on Judicial Conduct (hereinafter the Commission) received a complaint about a bus ad for North Seattle College featuring King County Superior Court Judge David Keenan. Along with a photo of Judge Keenan’s face, the ad included the following language: “A Superior Court Judge, David Keenan got into law in part to advocate for marginalized communities. David’s changing the world. He started at North.” The Commission admonished Judge Keenan for violating the Code of Judicial Conduct, in part …

Table Of Contents, Seattle University Law Review

Seattle University Law Review

Table of Contents

Why Corporate Boards Should Include Lgbtq+ People, Jeremy Mcclane, Darren Rosenblum

Seattle University Law Review

Corporate boardrooms sit at the heart of most of society’s most consequential decisions but fall far short of the diversity of our society. The current movement toward board diversification aims to remedy the underrepresentation of marginalized groups on corporate boards. More recently, some efforts have included LGBTQ+ people, even though the basis for their inclusion on corporate boards remains largely unstated. This Article examines both the normative and instrumental bases for LGBTQ+ inclusion in board diversity initiatives, articulating unspoken assumptions and linking LGBTQ+ people to the broader inclusion effort. In so doing, it begins to surface the unique issues LGBTQ+ …

Status Check: Should The Federal Tax Status Of A Disregarded Debtor Be Property Of The Estate?, J. Benjamin Ward

Emory Bankruptcy Developments Journal

This Comment focuses on whether the tax status of a debtor constitutes “property” of the debtor’s estate under 11 U.S.C. § 541(a). The answer to this question ultimately determines whether a bankruptcy trustee has the power to avoid a “check-the-box” tax status change made by the owner of a debtor entity from a “pass-through” to a separately taxed C Corporation. This issue normally arises when the parent corporation or individual owner of a debtor subsidiary corporation or disregarded entity (to the individual owner) elects to transform the status of the debtor by “checking the box” on the proper federal tax …

Putting Trust In Technology: A Pandemic's Effect On Remote Estate Planning, Amy Weiss

Cardozo Arts & Entertainment Law Journal

The COVID-19 pandemic accelerated the adoption of remote witnessing and notarization in trusts and estates, offering convenience but introducing risks like fraud and privacy concerns. The article advocates for a balanced approach, suggesting uniform national standards to mitigate these risks while maintaining the benefits of remote processes.

The Haunting Of Wealth Law, Allison Anna Tait

Law Faculty Publications

Wealth law is full of ghosts, ghosts everywhere all at once. As a form of both preservation and disruption, a form of continuance as well as a form of interruption, ghosts are reminders of the past in its multiple forms. But they are also figures that prompt consideration of the present as well as speculation about the future. Jacques Derrida, who suggested the idea of “hauntology,” posited haunting and the ghostly as being “time out of joint,” a reference to Hamlet’s confused cry upon seeing his father’s ghost that Derrida analyzes extensively. In this sense, ghosts are akin to inheritance, …

Wills & Trusts, Gerry W. Beyer

SMU Annual Texas Survey

This article discusses developments relating to the Texas law of intestacy, wills, estate administration, trusts, and other estate planning matters during the Survey period of December 1, 2021, through November 30, 2022. The reader is warned that not all cases decided during the Survey period are presented, and not all aspects of each case are analyzed. You must read and study each case’s full text before relying on it or using it as precedent. The discussion of most cases includes a moral, that is, the important lesson to be learned from the case. By recognizing situations that resulted in time-consuming …

Creating A Trust Through Delegation, Raymond C. O'Brien

Scholarly Articles

Aging in America has precipitated increasing use of planning for incapacity devices, which include forms creating powers of attorneys ("POAs'). Simple forms may be found online, or they may become part of a sophisticated estate planning portfolio drafted by professionals. Resultingly, to support portability, enforceability, and protection against financial exploitation of vulnerable adults, the National Conference of Commissioners on Uniform State Laws approved the Uniform Power of Attorney Act in 2006 ("UPOAA "), which has been adopted by more than half of United States jurisdictions. One of the Act's provisions requires an express grant of authority contained within the principal's …

Laws Governing Restrictions On Charitable Gifts: The Consequences Of Codification, Nancy Mclaughlin

Utah Law Faculty Scholarship

Over the last two decades we have seen marked changes in the laws governing donor-imposed restrictions on charitable gifts. These changes have occurred primarily as a result of the adoption in many states of the Uniform Trust Code (the UTC) and the Uniform Prudent Management of Institutional Funds Act (UPMIFA). This Essay explains that codification in the UTC and UPMIFA of liberalized versions of cy pres and deviation, as well as other related changes to the common law, have had unintended negative consequences. Those negative consequences include a lack of coherence in the law, an elevation of form over substance …

Keeping Current - Probate [Notes], Claire Hargrove, Paula Moore, William P. Lapiana, Jake W. Villanueva

Articles & Chapters

No abstract provided.

Remediating Injustices For Black Land Loss: Taking The Next Step To Protect Heirs' Property, Phyllis C. Taite

Faculty Articles

No abstract provided.

Confusing Cy Près, Christopher J. Ryan Jr.

Articles by Maurer Faculty

American courts have increasingly considered the possibility of prolonging the life of charitable trusts through cy près and the closely related doctrine of equitable deviation. This requires courts to interpret the material purposes of trusts and even the administrative terms on which settlors of charitable trusts condition gifts in trust made for public benefit. Yet, the implicit reasons why courts might invoke cy près to change a charitable trust’s material purpose have not been explored in significant depth heretofore—and neither has a common but vexing trend of courts conflating cy près with deviation, which negatively impacts charitable trust-making.

I analyze …

Third-Party Releases Under The Bankruptcy Code After Purdue Pharma, Jeanne L. Schroeder, David G. Carlson

Articles

The biggest bankruptcy case ever (as measured by unsecured claims against a debtor-in-possession) is In re Purdue Pharma, LLC. The bankruptcy court affirmed a plan discharging the Sackler family (equity owners and often officers of Purdue) of all “derivative” claims that belonged to the debtor-in-possession. The settlement was bought for a substantial sum payable over time by the Sacklers. A debtor-in-possession is the sole owner of a derivative claim and has the power to bind all the creditors to a settlement. Under the Bankruptcy Code, a plan discharging derivative claims is confirmable. In fact, as we will, show, a great …

Wills, Trusts, Guardianships, And Fiduciary Administration, Mary F. Radford

Mercer Law Review

This Article discusses significant cases decided by the Georgia Court of Appeals during the period of June 1, 2021 through May 31, 2022, and significant Georgia legislation enacted in that same period relating to Georgia probate and trust law, guardianship, and estate planning.

Pop & Perjury: The Irs Valuation War With The Estate Of Michael Jackson

The University of New Hampshire Law Review

When Michael Jackson died unexpectedly in Los Angeles, California, on June 25, 2009, his career and earnings were nearing an all-time low. Plagued by past sexual abuse allegations, scandals, and questionable health, Michael Jackson’s personal finances were purported to be in complete disarray. However, following his unexpected death, the value of his estate, which was reported to be near to nothing, swelled as the world remembered his beloved contributions to the world and began to purchase accordingly. Sales of Michael Jackson’s music began to soar high. The estate’s value soared even higher as it signed licensing agreements and released new …

A New Feudalism: Selfish Genes, Great Wealth, And The Rise Of The Dynastic Family Trust (Dft), Eric Kades

Faculty Publications

Today’s record levels of economic inequality are infecting our future as the top 0.01% bequeath vast wealth to their descendants. With the death of the Rule Against Perpetuities (RAP), this inequality has the potential to harden social class lines—not just for a generation or two, but forever. Although it may sound implausible, interviews with estate lawyers serving very high-net-worth clients reveal that some members of the wealthiest tier of testators are already exploiting the RAP’s elimination, along with a tax loophole, to establish dynasty trusts that will financially empower their bloodline as long as it continues. Recent work in evolutionary …

Estate Planning With Electronic And Regulated Assets, Thomas Simmons, Deborah Tedford, Jared Cloud, Shaheen Inami, Shari Levitan

Faculty Publications

Unique or unusual assets – from non-fungible tokens to firearms – pose novel challenges to estate planners and fiduciaries – particularly when it comes to administration of the estate. The need to both carry out the donor’s wishes and maintain the value for beneficiaries can come with different considerations from the more “garden variety” asset – particularly if the estate planner and/or fiduciary is not aware of their existence. In this webcast, our faculty of experienced estate planners – all Fellows of ACTEC – will explore different types of electronic and regulated assets and the issues you must take into …

The Current State Of Estates, Cardozo Trusts And Estates Law Society

2022–2023 Flyers

No abstract provided.

Charity Oparaocha V Winfrida Murambiwa (2004) Z.R. 141 (S.C.), Milambo Chibbonta-Pupwe

SAIPAR Case Review

No abstract provided.

Wills, Trusts, And Estates, Hunter M. Glenn, Allison A. Tait

University of Richmond Law Review

Between legislative and judicial activity, there have been a number of noteworthy developments and changes to the rules governing trusts and estates. Several of these developments turn on questions related to the role of fiduciaries, what responsibilities they have with respect to reporting as well as asset management, and when they can be removed. These questions concerning fiduciaries implicitly address the rights of beneficiaries and the protections available to them. New developments also will have multiple repercussions for estate planners and wealth managers. New planning strategies in response to changes in the law of undue influence may become important to …

Keeping Current - Probate [Notes], Claire Hargrove, Paula Moore, Kerri G. Nipp, William P. Lapiana, Jake W. Villanueva

Articles & Chapters

No abstract provided.

Generalized Creditors And Particularized Creditors: Against A Unified Theory Of Standing In Bankruptcy, David G. Carlson, Jeanne L. Schroeder

Articles

Courts have struggled toward a unified theory to explain when the trustee has exclusive jurisdiction to sue a third party for harms done to a bankrupt debtor, and when creditors have exclusive jurisdiction to sue the third party. Courts have proclaimed that when every creditor can sue the third party, then none of them can, and the right belongs solely to the trustee. Creditor rights are “generalized.” If only a proper subset of creditors can sue the third party, then the trustee is not able to subrogate to the subset. Such creditors are “particularized.” This paper proclaims the test a …

The Debate Surrounding The Company Purpose In The Post-Pandemic Age, Leon Anidjar

Cardozo International & Comparative Law Review

The recent COVID-19 pandemic crisis produced many creative responses to confront its adverse results. Many companies worldwide were required to adopt innovative thinking by altering their business activities and revising their entire supply chain by attracting different types of resources delivered by various stakeholders. This Article explores the implications of this fundamental change on central theoretical assumptions of corporate governance. It articulates a new stakeholders-resources theory that explores governance norms as part of the firm's quest for inputs required to generate a competitive advantage. It applies this analytical framework in the debate on corporate purpose. This Article argues that companies …

Holding Residential Property On Inter Vivos Trusts In Singapore: Transfers Of Equity Interests, Vincent Ooi

Research Collection Yong Pung How School Of Law

Following amendments to the ACD regime in Singapore, transferring equity interests to and from a trust with no beneficial owners will attract ACD, as will the exercise of a power of appointment by a trustee to grant equity interests to a beneficiary. Renunciation of interests in a bare trust will also attract ACD. Together with the introduction of ABSD (Trust), it is now impractical to use trusts to hold residential properties for succession planning purposes. Remaining options are to gift the properties without any strings attached or bequeath the properties in a will and risk subsequent changes to death taxation.

Holding Residential Property On Inter Vivos Trusts In Singapore: Transfers Of Interests, Vincent Ooi

Research Collection Yong Pung How School Of Law

As a response to the “missing beneficial owner” problem highlighted by the Zhao Hui Fang case, amendments have been made to Singapore’s stamp duty regime. ABSD will now be levied at 35% on transfers of residential property to trustees, with a remission available if certain conditions are met. These conditions effectively mean that residential property held on inter vivos trusts in Singapore must be given to beneficiaries without conditions or powers of revocation or variation. This has major ramifications for succession planning, since such restrictions largely defeat the purpose of using a trust to hold property in the first place.

The Wills Of Covid-19: The Technological Push For Change In New York Trusts And Estates Law, Olivia Visconti

St. John's Law Review

(Excerpt)

Sirens filled the crisp, cool air of early March 2020 as COVID- 19 overtook the United States. New York City, once a metropolis of busy human interaction, became an epicenter of isolation, anxiety, and fear as the pandemic swept across the city and state of New York. While quarantining at home, New Yorkers addressed their to-do lists: they cleaned out cluttered rooms and finally fixed leaky sinks and drafty windows. Many New Yorkers also worried about the ever-present threat of falling ill; so they decided to execute their wills. Should something happen to them, they wanted to ensure their …