What Happened To Grandma’S House: The Real Property Implications Of Dying Intestate,
2020
University of Florida Levin College of Law
What Happened To Grandma’S House: The Real Property Implications Of Dying Intestate, Danaya C. Wright
UF Law Faculty Publications
Studies have shown that intergenerational wealth transmission significantly affects wealth concentration and the growing wealth gap. Of the two million households that received an inheritance or a substantial inter vivos gift each year, roughly half are small, under $50,000, while transfers of $1 million or more account for only 2% of the transfers. Yet, those 2% of inheritances over $1 million comprise 40% of total wealth transferred. As scholars continue to examine the role of inheritance in the alarming wealth gap, few are focusing on how the laws of intestacy might exacerbate the gap by leading to greater wealth loss …
Litigation Blues For Red-State Trusts: Judicial Construction Issues For Wills And Trusts,
2020
University of Florida Levin College of Law
Litigation Blues For Red-State Trusts: Judicial Construction Issues For Wills And Trusts, Lee-Ford Tritt
UF Law Faculty Publications
Will construction—the process wherein a trier of fact must determine the testator’s probable intent because the testator’s actual intent is not clear—is too little discussed and too often misunderstood in succession law jurisprudence. Yet, construction issues are becoming increasingly important due to a growing number of will and trust disputes concerning the determination of beneficiaries in a post-Obergefell United States. Currently, courts are being asked to construe terms like “spouse,” “husband,” “wife,” “child,” “son,” “daughter,” and “descendants” in estate planning documents during a time in which understandings of marriage, identity, reproduction, religious liberty, and public policy are rapidly evolving. Interestingly, …
Zoning For Families,
2020
University of Connecticut
Zoning For Families, Sara C. Bronin
Indiana Law Journal
Is a group of eight unrelated adults and three children living together and sharing meals, household expenses, and responsibilities—and holding themselves out to the world to have long-term commitments to each other—a family? Not according to most zoning codes—including that of Hartford, Connecticut, where the preceding scenario presented itself a few years ago. Zoning, which is the local regulation of land use, almost always defines family, limiting those who may live in a dwelling unit to those who satisfy the zoning code’s definition. Often times, this definition is drafted in a way that excludes many modern living arrangements and preferences. …
Christian Purpose Trusts,
2020
University of South Dakota School of Law
Christian Purpose Trusts, Thomas Simmons
Faculty Publications
Noncharitable purpose trusts are recognized under the Uniform Trust Code and the non-uniform laws of many jurisdictions. In 2019, Oregon enacted a stewardship trust statutory scheme. A stewardship trust is a purpose trust which is designed to hold and preserve corporate stock. Properly drafted, a stewardship trust can soften the indefatigable pursuit of profits that drive corporate entities. A stewardship trust can substitute ethical ideals - at least in part - for shareholder return. The purpose trust statutes of other jurisdictionscould also partially permit ambitions similar to those which motivated the Oregon legislation to be realized. The concept of a …
Family Limited Partnerships: Are They Still A Viable Weapon In The Estate Planner’S Arsenal?,
2020
Associate at the Law Firm of Van Leer and Greenberg Esqs.
Family Limited Partnerships: Are They Still A Viable Weapon In The Estate Planner’S Arsenal?, Matthew Van Leer-Greenberg Esq., Llm
Roger Williams University Law Review
No abstract provided.
Wills Speak,
2020
University of Oklahoma College of Law
Against Fiduciary Constitutionalism,
2020
Notre Dame Law School
Against Fiduciary Constitutionalism, Samuel L. Bray, Paul B. Miller
Journal Articles
A growing body of scholarship draws connections between fiduciary law and the Constitution. In much of this literature, the Constitution is described as a fiduciary instrument that establishes fiduciary duties, not least for the President of the United States. This Article examines and critiques the claims of fiduciary constitutionalism. Although a range of arguments are made in this literature, there are common failings. Some of these involve a literalistic misreading of the works of leading political philosophers (e.g., Plato and Locke). Other failings involve fiduciary law—mistakes about how to identify fiduciary relationships, about the content and enforcement of fiduciary duties, …
Estate Planning With Shaq And Strom: Teaching Post-Mortem Intimacy Audits,
2020
Washington University School of Law in St Louis
Estate Planning With Shaq And Strom: Teaching Post-Mortem Intimacy Audits, Adrienne D. Davis
Scholarship@WashULaw
This Article highlights the importance of using both popular culture references and fictional show characters as mediums for teaching courses on Trusts and Estates. Utilizing post-mortem intimacy audits, specifically through pop culture pedagogical hypotheticals and case studies, Professor Davis highlights the importance of understanding doctrines within Trusts and Estates Law. Focusing on the examples of Shaquille O’Neal and Strom Thurmond, this Article highlights three important lessons for students: the fragility of estate planning, the effects of individual estate planning on groups’ broader wealth and political equality, and the role of private law in distributing legal rights and political equality.
I'D Be Better Off In A Pine Box: Analyzing Kentucky's Funeral Planning Declaration Act As A Model For Uniform Legislation,
2020
University of Kentucky
I'D Be Better Off In A Pine Box: Analyzing Kentucky's Funeral Planning Declaration Act As A Model For Uniform Legislation, J. Conner Niceley
Kentucky Law Journal
No abstract provided.
Wills & Trusts,
2020
Texas Tech University School of Law
In Memory Of Professor James E. Bond,
2020
Seattle University School of Law
In Memory Of Professor James E. Bond, Janet Ainsworth
Seattle University Law Review
Janet Ainsworth, Professor of Law at Seattle University School of Law: In Memory of Professor James E. Bond.
The Law Of High-Wealth Exceptionalism,
2020
University of Richmond - School of Law
The Law Of High-Wealth Exceptionalism, Allison Anna Tait
Law Faculty Publications
No family is an island. But some families would like to be – at least when it comes to wealth preservation – and they depend on what this Article calls the law of high-wealth exceptionalism to facilitate their success. The law of high-wealth exceptionalism has been forged, over the years, from the twinned scripts of wealth management and family wealth law, both of which constitute high-wealth families as sovereign entities capable of self-regulation and deserving of exemption from the rules that govern ordinary-wealth families. Consequently, high-wealth families take advantage of complicated estate planning techniques and highly favorable wealth rules in …
Trustees’ Investment Duties And Cryptoassets,
2020
Singapore Management University
Trustees’ Investment Duties And Cryptoassets, Hang Wu Tang
Research Collection Yong Pung How School Of Law
This article considers the legal and practical concerns for trustees regarding cryptocurrencies and other related instruments, which will be referred to as “cryptoassets”. It will briefly introduce the various types of cryptoassets and explore the risks involved when trustees decide to (or not to) invest in these instruments. This article provides a framework on how trustees should approach the issue of cryptoassets.
Giving Back A Fraudulent Transfer: A Defense To Liability?,
2020
Benjamin N. Cardozo School of Law
Giving Back A Fraudulent Transfer: A Defense To Liability?, David G. Carlson
Articles
In Whitlock v. Lowe (In re Deberry) (5th Cir. 2019), the Fifth Circuit court of appeals found it obvious that if a transferee gives back fraudulently transferred funds (which the debtor then dissipates), the transferee has a complete defense to liability to the transferor’s bankruptcy trustee. This puts the Fifth Circuit at odds with the Sixth and Seventh Circuits, where the prepetition give-back counted as no defense. This article concludes that a more nuanced position should mediate between these extremes, based on an “innocent donee” defense retrieved from Nineteenth Century precedent. The article emphasizes that if bad faith transferees for …
Discounts For Fractional Ownership Of Real Property Are Accepted, So Why Haven’T The Irs And Courts Accepted Discounts For Fractional Ownership Of Artwork?,
2019
Brooklyn Law School
Discounts For Fractional Ownership Of Real Property Are Accepted, So Why Haven’T The Irs And Courts Accepted Discounts For Fractional Ownership Of Artwork?, Maren N. Eisenmesser
Brooklyn Journal of Corporate, Financial & Commercial Law
In 2014, the Fifth Circuit held that Mr. Elkins’s estate was entitled to apply a fractional ownership discount to determine the taxable value of the undivided interest in artwork. The estate received a $14 million refund plus interest. The Internal Revenue Code directs taxpayers to value the items in a gross estate at their fair market value. Fractional ownership adds another problem in the valuation of an estate’s interest property. In general, courts have accepted fractional ownership discounts for real property. In contrast, courts have been reluctant to apply a fractional ownership discount for artwork. This Note will argue that …
Trustee Liability For Breach Of Trust—Loss Or Profit, Or Loss And Profit?,
2019
University at Buffalo School of Law
Trustee Liability For Breach Of Trust—Loss Or Profit, Or Loss And Profit?, Kenneth F. Joyce
Journal Articles
No abstract provided.
Cuban Asset Control Regulations: The Transfer Of Estate Assets To Cuban Heirs Under The Obama And Trump Administrations,
2019
University of Miami Law School
Cuban Asset Control Regulations: The Transfer Of Estate Assets To Cuban Heirs Under The Obama And Trump Administrations, Madeleine N. Elser
University of Miami Inter-American Law Review
No abstract provided.
Fits, Starts, And Finishes (Reviewing David Horton, Wills Without Signatures, 99 B.U. L. Rev. 1623 (2019)),
2019
University of Oklahoma Norman Campus
Fits, Starts, And Finishes (Reviewing David Horton, Wills Without Signatures, 99 B.U. L. Rev. 1623 (2019)), Katheleen Guzman
Other Faculty Publications
No abstract provided.
Neglecting Responsibilities: The Uniform Probate Code's Failure To Address Child Maltreatment And Poverty,
2019
Brooklyn Law School
Neglecting Responsibilities: The Uniform Probate Code's Failure To Address Child Maltreatment And Poverty, Joshua Hamlet
Journal of Law and Policy
When a child or adolescent passes away, parents are typically stricken with grief and unable to cope with the devastation. Unfortunately, the emotional toll is not the only challenge parents face. Some are forced to handle legal battles regarding the administration of their deceased child’s estate. Since the majority of children do not have a will, state adoptions of the Uniform Probate Code dictate what happens to the child’s estate during these tragedies. But what happens in the event these parents abused or neglected their child while that child was still living? While the Uniform Probate Code advises that these …
Wills, Trusts, And Estates,
2019
University of Richmond
Wills, Trusts, And Estates, J. William Gray Jr., Katherine E. Ramsey
University of Richmond Law Review
The 2019 Virginia General Assembly did not enact any major new legislation, but it did pass several significant amendments. Among the most useful was an amendment to the Virginia Uniform Transfers to Minors Act which extended the maximum age for custodianships from twenty-one to twenty-five. The legislature also decided to cease imposing income taxes on estates and trusts whose sole connection to the Commonwealth is that they are being administered here. It responded to two recent court cases involving the required execution formalities for leases and the right to award attorneys’ fees in actions involving an agent’s breach of fiduciary …
