Estates and Trusts Commons^™

Unlimited Liability For Banks: Deposits As Fraudulent Transfers, Katherine Zampas

St. Mary's Law Journal

One of a trustee’s most valuable resources in bankruptcy proceedings is his avoidance powers. A trustee is charged with the duty to recover and recapture any property wrongfully removed from the estate by way of fraudulent transfer or preference. In some cases, a trustee has attempted to treat a debtor’s deposit into a bank account as a transfer, rendering it subject to his avoidance powers. Such a result will leave banks collaterally responsible as a transferee for a debtor’s conduct despite their lack of culpability and control over the funds.

The definition of transfer within the Bankruptcy Code is comprehensive …

Remedying The Abuse Of Organisational Forms: Trusts And Companies Considered, Pey Woan Lee

Research Collection Yong Pung How School Of Law

Both the trust and the company are organisational forms distinguished bytheir ability to facilitate affirmative asset partitioning. However, this feature isvulnerable to abuse by those whose purpose is to defeat creditor rights. Thisarticle considers recent developments in judicial doctrines aimed atcountering such abuse and the extent to which they are explicable by, orcoherent, with economic analyses drawn from the work of Hansmann andKraakma.

Libraries, Authors, And Literary Estates: The Complex Case Of Rosenbach V. Sendak (2016), Patrick Roughen

Charleston Library Conference

This research examines a lawsuit filed by the Rosenbach Museum and Library of Philadelphia in 2016 against the Estate of Maurice Sendak (1928–2012) to determine the distribution of some of Sendak’s collection of rare books. In the lawsuit, the Rosenbach claimed the executors of the Sendak estate had withheld a portion of the rare books to which it was entitled under Sendak’s will. This paper suggests possible ways in which institutions such as libraries, archives, and museums might anticipate and address some of the ownership-related problems that arise during the acquisition and/or loss of collections of an artist or author …

Transfer On Death Deeds: It Is Time To Establish The Rules Of The Game, Stephanie Emrick

Florida Law Review

A transfer on death deed is a form of deed that allows real property assets to pass at death outside of the probate process. Through the twentieth century, there has been a movement in the world of property law—dubbed “the nonprobate revolution”—that focuses on using will substitutes to transfer personal property assets at death without the typical probate process. This is important because the probate process can be quite lengthy and expensive. Until recently, the nonprobate option was not readily available where real property assets were a part of the estate. The transfer on death deed essentially evolved from the …

Dr. Jekyll & Mr. Holmes: A Tale Of Two Testaments, Stephen R. Alton

Faculty Scholarship

Author's Note: This Article takes the form of an epistolary exchange across the centuries, comparing and contrasting two noted wills in Victorian literature. To preserve verisimilitude, the author lets these letters and emails speak for themselves, without any formal introduction, just as would have occurred in Victorian epistolary fiction. It is the author's hope that the relevant testaments and the legal issues they present will make themselves clear as these exchanges proceed. Any reader desiring a more formal introduction to this Article is directed to the first email (below) written by the author to Mr. Utterson and Mr. Holmes; this …

Dr. Jekyll & Mr. Holmes: A Tale Of Two Testaments, Stephen R. Alton

South Carolina Law Review

No abstract provided.

What Can The Apple Teach The Orange? Lessons U.S. Land Trusts Can Learn From The National Trust In The U.K., Jessica Owley, Lauren Gwin, Sally K. Fairfax

Articles

The National Trust in England, Wales, and Northern Ireland is one of the oldest and most revered private land conservation organizations in the world. While the private land conservation movements in the United States and the United Kingdom began at a similar time and with similar tools, conservation attitudes and methods in the two countries diverged. Today, the National Trust dominates land conservation in the U.K. while the strength of the U.S. movement is the energy of over 1,500 smaller organizations operating at different scales across the country. Despite the differences, this project looks to the National Trust in England …

Table Of Contents, Seattle University Law Review

Seattle University Law Review

No abstract provided.

Purpose Trusts As A Planning Tool For The 21st Century, Thomas Simmons, Brad Myers

Faculty Publications

No abstract provided.

In Re Fund For Encouragement Of Self Rel., 135 Nev. Adv. Op. 10 (Apr. 25, 2019), Skylar Arakawa-Pamphilon

Nevada Supreme Court Summaries

NRS § 163.556 does not permit a court to disregard trustees' objections and appoint half of a wholly charitable trust’s assets to a new trust when, pursuant to the trust instrument’s terms, all trustees must consent before distributing half of the trust’s assets.

Proposed New York Trust Code, Surrogate’S Court Advisory Committee To The Chief Administrative Judge Of The Courts Of The State Of New York

Other Scholarship

Text of a proposed New York Trust Code to be submitted to the New York Legislature.

Welcoming E-Wills Into The Mainstream: The Digital Communication Of Testamentary Intent, Paige Hall

Nevada Law Journal

No abstract provided.

E-Notice And Comment On Due Process, Sergio J. Campos

Articles

No abstract provided.

"Body" Building: Expanding Arkansas's Standard For Holographic Wills, Andrew L. Lawson

Arkansas Law Review

In times past, entirely handwritten documents represented the vast majority of holographic wills. These homemade testaments included dense pages of text that the drafter diligently memorialized by hand, carefully crafted letters with testamentary directions to the author’s loved ones, and unassuming notes tucked away in a drawer, perhaps with names, proportions, and shorthand property descriptions. If a probate court encountered a holographic testament, odds were that it resembled these traditional examples.

Strangers In The Law: Lawyers' Law And The Other Legal Dimensions, Mauro Bussani

Cardozo Law Review

Political and legal theories have long been takingfor granted the idea that law is the province of government and government recognized authorities, including the judiciary. They have concentrated on the processes and principles, by which the form and substance of State law are determined, implemented, and enforced. This law is what I will call official or State law. By contrast, many non-official sites of legal production have always existed and still exist (outside and) inside the West. These sites produce rules that may flourish indifferent to or in opposition to official law and take the settlement of disputes arising out …

Unwinding Irrevocable Trusts, Thomas Simmons

Faculty Publications

No abstract provided.

Strengthening The Passivity Default, Ian Ayres, Edward Fox

Articles

In The Prudence of Passivity, Bryon Harmon and Laura Fisher (hereafter HF) argue that "passive management become the default approach for the investment of trust funds, to be abandoned only when circumstances specifically dictate the use of active management."' In this comment we argue that their thesis could be strengthened (i) by more clearly distinguishing between default law and default investment practices, (ii) by more clearly articulating their favored altering rules.

Fiduciary Principles In Chinese Law, Nicholas C. Howson

Book Chapters

This chapter examines the principles of fiduciary doctrine that are found in Chinese law, with a particular focus on developments in law and regulation in the People’s Republic of China (PRC) after the early 1980s. It also considers the advent and elaboration of what the Anglo-American legal system calls “corporate fiduciary duties,” including partnership fiduciary duties. The chapter first provides an overview of basic conceptions of corporate fiduciary duties that entered Chinese law and practice through at least three separate tracks: academic, regulatory, and jurisprudential. It then explores corporate and partnership fiduciary duties after 2006, placing emphasis on corporate law …

Probate Funding And The Litigation Funding Debate, Jeremy Kidd

Washington and Lee Law Review

Third-party funding of legal claims is becoming more common, and increasingly more controversial. Whether in the legislative arena or in the courts, the fight over whether and how independent parties might provide funding to litigants has become heated. The fight now threatens to spill over into the probate realm, where funders have begun purchasing probate rights from putative heirs. These probate funding transactions share many characteristics with broader litigation funding but also differ in important respects. The meager existing literature tends to address the issue in a pre-biased and methodologically unsound way, making it impossible to properly assess the nature …

Max's Taxes: A Tax-Based Analysis Of Pet Trusts, Gerry W. Beyer, Jonathan P. Wilkerson

University of Richmond Law Review

No abstract provided.