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Articles 1381 - 1409 of 1409

Full-Text Articles in Taxation-Federal Estate and Gift

Federal Taxation Of Settlors Of Trusts, Harry B. Sutter, Anderson A. Owen May 1935

Federal Taxation Of Settlors Of Trusts, Harry B. Sutter, Anderson A. Owen

Michigan Law Review

In the Revenue Act of 1924 there simultaneously appeared three new provisions. By Section 219(g) the income of trusts revocable by the grantor, either alone or in conjunction with any person not a beneficiary, of the trust, was specifically required to be taxed to the grantor as his income. By Section 302(d) there was required to be included in the gross estate of a deceased grantor the value at his death of any property previously given by him in trust, where the enjoyment of such property remained subject to change through the exercise by the grantor, either alone or in …

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Taxation - Power Of Appointment - Effect Of Refusal By Appointee Who Is Given Same Share In Default Of Appointment May 1935

Taxation - Power Of Appointment - Effect Of Refusal By Appointee Who Is Given Same Share In Default Of Appointment

Michigan Law Review

The donee of a power of appointment exercised it by will in favor of the persons who would have taken exactly the same interests in default of appointment, and who declared their election to decline the appointment and take by the provision in default of appointment in the will of the donor. Suit was brought for additional federal estate taxes covering the property to which the power applied, under a statute levying such a tax upon "any property passing under a general power of appointment exercised by the decedent . . . by will . . . . " Held …

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The Taxation Of Trust Property, Robert C. Brown Jan 1935

The Taxation Of Trust Property, Robert C. Brown

Articles by Maurer Faculty

No abstract provided.

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The Taxation Of Trust Property, Robert C. Brown Jan 1935

The Taxation Of Trust Property, Robert C. Brown

Kentucky Law Journal

No abstract provided.

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Book Review. State Inheritance Taxation And Taxability Of Trusts By Royce A. Kidder, Robert C. Brown Jan 1935

Book Review. State Inheritance Taxation And Taxability Of Trusts By Royce A. Kidder, Robert C. Brown

Articles by Maurer Faculty

No abstract provided.

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Final Determination Of Domicil In The United States, Fowler V. Harper Jun 1934

Final Determination Of Domicil In The United States, Fowler V. Harper

Indiana Law Journal

Reprinted from Pennsylvania Bar Quarterly, April, 1934

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Taxation-Federal Estates Tax-Joint Tenancies And Tenancies By The Entirety Apr 1934

Taxation-Federal Estates Tax-Joint Tenancies And Tenancies By The Entirety

Michigan Law Review

H and W acquired title to realty in Illinois in 1909 as joint tenants. H died in 1923. Held, that one-half of the value of this property should be included in the valuation of H's gross estate for purposes of the federal estates tax, per sec. 402 (d) of the Revenue Act of 1921. Griswold v. Helvering, Comm'r of Int. Rev., (U. S. 1933) 54 Sup. Ct. 5, 78 L. ed. 14.

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Future Interests - Federal Estate Tax - Admissibility Of Evidence Of Barrenness Of Devisee Mar 1934

Future Interests - Federal Estate Tax - Admissibility Of Evidence Of Barrenness Of Devisee

Michigan Law Review

In an inquiry as to the value of an executory bequest to charitable institutions, conditioned on the death of the testator's daughter without issue surviving her, was evidence that at the time of the testator's death she had been rendered incapable of bearing children admissible for the purpose of determining the amount of a deduction from the federal estate tax? Held, that such evidence was admissible. United States v. Provident Trust Co., (U. S. 1934) 54 Sup. Ct. 389.

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Taxation -Taxability Of Inter Vivos Trust With Power Of Revocation Reserved Feb 1934

Taxation -Taxability Of Inter Vivos Trust With Power Of Revocation Reserved

Michigan Law Review

In 1918 decedent established a trust fund in favor of his daughter, reserving the power to alter or modify the deed in favor of anyone except himself but retaining neither the life income nor any interest in the res. Later decedent revoked the deed and re-established the trust in favor of the daughter's two children. On decedent's death the Commissioner of Internal Revenue included the value of the trust res in decedent's gross estate for purposes of taxation as provided by the Revenue Act of 1926 § 302(d). Held, that the tax was not repugnant to the Fifth …

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The Theory And Practice Of Modern Taxation, By William R. Green, Robert C. Brown Feb 1934

The Theory And Practice Of Modern Taxation, By William R. Green, Robert C. Brown

Indiana Law Journal

No abstract provided.

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Taxation - Deduction Of Capital Losses Feb 1934

Taxation - Deduction Of Capital Losses

Michigan Law Review

Executors were directed to sell the testator's residuary estate. Out of one-fifth of the proceeds a trust fund of $500,000 was to be set up, and the balance given to plaintiff absolutely. The testator in his will then stated that a large part of his residuary estate would consist of realty "which should not be sold excepting under favorable conditions," and directed his executors to hold and manage it until it could be advantageously sold. After some years the executors sold a piece of land at a loss. Plaintiff was entitled to one-fifth of the proceeds, and so he deducted …

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Taxation - Property Subject To Inheritance Tax - Effect Of Reservation Of Life Income Nov 1933

Taxation - Property Subject To Inheritance Tax - Effect Of Reservation Of Life Income

Michigan Law Review

A father conveyed real estate to his daughter three years before his death by warranty deeds, absolute on their face but with the oral understanding that the father was to have all the income from the property during his lifetime. In a letter which the daughter wrote to her father several years later the terms of this oral agreement are given, but this letter, set forth in the statement of facts, is apparently not relied on by the court since no mention of it is made in the opinion. Held, that the gift was taxable under the inheritance tax …

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Taxation-Inheritance Tax, Intangible Property-Due Process Of Law Jun 1933

Taxation-Inheritance Tax, Intangible Property-Due Process Of Law

Indiana Law Journal

No abstract provided.

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Certain Problems Confronting Creditors When A Revocable Trust Accomplishes Testamentary Succession, Ray Leslie Alexander Feb 1933

Certain Problems Confronting Creditors When A Revocable Trust Accomplishes Testamentary Succession, Ray Leslie Alexander

Michigan Law Review

Under the overwhelming weight of authority the reservation by the settlor of the income from trust property, or of other benefits, during his lifetime, and of the power to revoke the trust and so recover all or any part of the principal does not invalidate the trust; nor does the trust fail because the trust instrument is not executed in accordance with the Statute of Wills. Upon the death of the settlor the corpus of such a trust is distributable by the trustee in accordance with the terms of the trust instrument and does not pass to the executor or …

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Taxation-Due Process-Gifts In Contemplation Of Death Nov 1932

Taxation-Due Process-Gifts In Contemplation Of Death

Indiana Law Journal

No abstract provided.

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Taxation-Constitutionality Of A Conclusive Presumption That A Transfer Executed Within A Limited Period Before Death Is Made In Contemplation Of Death Nov 1932

Taxation-Constitutionality Of A Conclusive Presumption That A Transfer Executed Within A Limited Period Before Death Is Made In Contemplation Of Death

Michigan Law Review

Motion for a refund was made by the plaintiff on the ground that certain transfers made within two years preceding the death of the decedent should not have been taxed under the federal estate tax since they were not in fact made in contemplation of death. The defendant filed a demurrer on the ground that under the provisions of sec. 302 (c) of the Revenue Act of 1926, such transfers were taxable regardless of the motive impelling them. The section reads: "Where within two years prior to his death . . . and without such a consideration the decedent has …

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Taxation - Tenancies By The Entirety - Retroactive Application Of The Federal Estate Tax Laws Mar 1932

Taxation - Tenancies By The Entirety - Retroactive Application Of The Federal Estate Tax Laws

Michigan Law Review

H and W became tenants by the entirety in certain lands in 1917. H died in 1925. A federal estate tax was collected under section 302 of the Revenue Act of 1924, 43 Stat. 253, 304, which provides that the gross value of the decedent's estate subject to tax shall include all property "to the extent of the interest therein held . . . as tenants by the entirety by the decedent and spouse," with certain exceptions. The same provision appeared in the 1916 and successive revenue acts without material change. W protested the levy on the ground that Congress …

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Taxation - Constitutionality Of A Conclusive Presumption That A Transfer Executed Within A Limited Period Before Death Is Made In Contemplation Of Death Jan 1932

Taxation - Constitutionality Of A Conclusive Presumption That A Transfer Executed Within A Limited Period Before Death Is Made In Contemplation Of Death

Michigan Law Review

Motion for a refund by the plaintiff on the ground that certain transfers made within two years of the death of the decedent should not have been subjected to the federal estate tax as they were not in fact made in contemplation of death. The defendant filed a statutory demurrer on the ground that section 302 of the Revenue Act as amended in 1926 (26 U. S. C. A. sec. 1049C) renders such property taxable irrespective of what impelled the transfer. The section reads, "Where within two years prior to his death and without consideration the decedent has made a …

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Taxation-Retroactive Application Of Federal Estate Tax Laws Nov 1931

Taxation-Retroactive Application Of Federal Estate Tax Laws

Michigan Law Review

Since the passage of the first federal estate tax laws in 1916, many difficult problems have presented themselves to the United States Supreme Court and the inferior federal courts with respect to their application. Possibly nothing in this field has caused more trouble than the decision as to whether and to what extent Congress has the power to tax retroactively gifts made in contemplation of death and transfers intended to take effect in possession or enjoyment at or after the death of the donor; and further, assuming it has such power, exactly what constitutes a gift or transfer within the …

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Trusts--Use Of The Trust Device To Escape Federal Estate Taxes, Donald M. Hutton Jun 1931

Trusts--Use Of The Trust Device To Escape Federal Estate Taxes, Donald M. Hutton

West Virginia Law Review

No abstract provided.

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Taxation-Retrospective Succession Tax On Trust Remainder Jun 1931

Taxation-Retrospective Succession Tax On Trust Remainder

Michigan Law Review

The settlors voluntarily placed property in trust, the income from which was to be paid to them during their lives, the corpus to be divided upon the surviving settlors' death, among their sons, or if any son predeceased the survivor, among those persons entitled to take his intestate property. Subsequently the settlors assigned their life interest to the sons; this conveyance, however, in the case of Coolidge v. Loring, 235 Mass. 220, 126 N.E. 276, was held ineffectual to eliminate the possible effect of the contingency of any son predeceasing the surviving settlor. Between the execution of the deed …

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Bases Of Jurisdiction In State Taxation Of Inheritances And Property, Charles L.B. Lowndes May 1931

Bases Of Jurisdiction In State Taxation Of Inheritances And Property, Charles L.B. Lowndes

Michigan Law Review

Theoretically there is an accepted distinction between jurisdiction to exact an inheritance tax and a property tax. Is this distinction of practical significance? Does it influence a court in the concrete decision of a case?

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Trusts--Exercise Of A Power With Consent Of Trustee-Retroactive Federal Inheritance Tax Apr 1931

Trusts--Exercise Of A Power With Consent Of Trustee-Retroactive Federal Inheritance Tax

Michigan Law Review

A trust, established in 1908, reserved a power to the settlor to alter or amend the provisions of the trust, conditioned on the assent of the trustee. 26 U. S. C. A. sec. 1094 (d), Rev. Act (1926) sec. 302 (d), which applied to trusts subject at the date of death to any change through the exercise of a power either by the decedent alone or in conjunction with any person, to alter, amend or revoke, was made retroactive by clause (h) of the same section. Held, since the transfer was complete before the death of the settler, section …

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Jurisdiction For The Purpose Of Imposing Inheritance Taxes, David R. Mason Jan 1931

Jurisdiction For The Purpose Of Imposing Inheritance Taxes, David R. Mason

Michigan Law Review

For nearly half a century so-called inheritance tax laws of the states of the United States have been predicated upon two distinct theories of jurisdiction, many states embodying both theories into their statutes. Recent decisions rendered by the Supreme Court of the United States, however, challenge the constitutionality of such a scheme and indicate the expediency of a review of the extent of state jurisdiction for the purpose of imposing such taxes.

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Probate Law Directory Dec 1930

Probate Law Directory

Michigan Law Review

A Review of PROBATE LAW DIRECTORY By J. C. Fisher.

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Taxation Inheritance-Computation Of Gain On Property Acquired From Estate-Date Of Acquisition Nov 1930

Taxation Inheritance-Computation Of Gain On Property Acquired From Estate-Date Of Acquisition

Michigan Law Review

Plaintiff was residuary legatee under the will of his father who died in 1918. The estate was administered and closed in 1920 and certain stocks and bonds were then delivered to plaintiff. Subsequently he sold the securities and in making his federal income tax return he computed his gain on the basis of 1920 values which were higher than the 1918 values. The Revenue Act of 1921 sec. 202 (a) (3), 213 provides that for the purpose of determining profit or loss from sale of property acquired by bequest, devise or descent since Feb. 28, 1913, the basis "shall he …

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Taxation-Transfer Tax On Death Of Settlor Of Trust Wherin Income Was Reserved Nov 1930

Taxation-Transfer Tax On Death Of Settlor Of Trust Wherin Income Was Reserved

Michigan Law Review

Section 401, Revenue Act of 1918 provided that in order to determine the transfer tax, there should be included in the gross estate "any interest therein of which the decedent has at any time made a transfer, or with respect to which he has at any time created a trust, in contemplation of or intended to take effect in possession or enjoyment at or after his death * * *." The decedent transferred to her husband and others, as trustees, securities in trust to collect the income and pay the balance after discharging expenses to the husband for life, after …

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Jurisdiction Of The States To Tax -- Recent Developments, Fowler Vincent Harper Jan 1930

Jurisdiction Of The States To Tax -- Recent Developments, Fowler Vincent Harper

Articles by Maurer Faculty

No abstract provided.

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Taxation-Situs Of Intangibles For Succession Tax Feb 1929

Taxation-Situs Of Intangibles For Succession Tax

Michigan Law Review

Decedent died domiciled in Connecticut, leaving as part of his estate, bonds and treasury certificates of the United States, which at the time of his death, and for a long time prior thereto had been physically placed and kept in safety deposit vaults in New York city, and had never been in Connecticut. The superior court of Fairfield county, on the advice of the supreme court of errors of Connecticut held that the bonds and certificates were not subject to a succession tax in Connecticut at the domicil of the decedent. The supreme court reached its decision by applying its …

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