Estates and Trusts Commons^™

Copyrights And Creditors: What Will Be Left Of The King Of Pop's Legacy?, Jessica Bozarth

Cardozo Arts & Entertainment Law Journal

No abstract provided.

Vesting Title In A Murderer: Where Is The Equity In The Georgia Supreme Court's Interpretation Of The Slayer Statute In Levenson?, Mark A. Silver

Georgia Law Review

The recent Georgia Supreme Court ruling in Levenson v.
Word exposes difficult interpretative and equitable
questions posed by Georgia's slayer statute. The case
began after Debra Post inherited her husband's estate but
was then arrested for his murder. She used her husband's
life insuranceproceeds and the real property she acquired
through the murder to pay two law firms to defend her in
the murder trial before pleading guilty.
The court-appointedadministratorof the estate sued the
law firms for conversion for not returning these illegally
and immorally acquired funds. Under the Georgia slayer
statute, a murderer forfeits the right to serve as …

An Impregnable Fortress? Possible Attacks On The Singapore Trust?, Hang Wu Tang

Research Collection Yong Pung How School Of Law

In the past ten years, Singapore has emerged as one of the most important wealth management centres in Asia.1 This development can be attributed to a number of factors. First, favourable laws were enacted to encourage high net worth individuals to ‘park’ their money in Singapore. These include changes to laws governing trust companies, confidentiality, taxation rules with regard to foreign earned income, abolition of estate duty and amendments to the Trustees Act.2 Secondly, both the private and public sectors embarked on an aggressive marketing campaign to promote Singapore as a wealth management centre.3 Thirdly, Singapore has one of the …

The Inauthentic Claim, Anthony J. Sebok

Articles

This Article takes a critical look at the persistence of legal doctrines that prohibit or limit property rights in litigation. The Article focuses on prohibitions on assignment and maintenance. Assignment of personal injury tort claims is prohibited throughout the United States, while the assignment of other claims, such as fraud and professional malpractice, is prohibited in a large number of states. Maintenance, in which a stranger provides something of value to a litigant in order to support or promote the litigation, is prohibited in varying degrees in the United States.

These doctrines might seem quite independent of each other at …

Causation In The Fiduciary Realm, Deborah A. Demott

Faculty Scholarship

No abstract provided.

Trust And Fiduciary Duty In The Early Common Law, David J. Seipp

Faculty Scholarship

Trust is an expectation that others will act in one’s own interest. Trust also has a specialized meaning in Anglo-American law, denoting an arrangement by which land or other property is managed by one party, a trustee, on behalf of another party, a beneficiary.1 Fiduciary duties are duties enforced by law and imposed on persons in certain relationships requiring them to act entirely in the interest of another, a beneficiary, and not in their own interest.2 This Essay is about the role that trust and fiduciary duty played in our legal system five centuries ago and more.

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

Mercer Law Review

This Article describes selected cases and significant legislation from the period of June 1, 2009 through May 31, 2010 that pertain to Georgia fiduciary law and estate planning.

Wills, Trusts, And Estates, J. Rodney Johnson

University of Richmond Law Review

The 2010 Session of the General Assembly enacted wills, trusts, and estates legislation (i) adopting the Uniform Power ofAttorney Act, (ii) passing emergency legislation for the construction of tax-oriented wills and trusts of persons who die during 2010 with documents drafted prior thereto, (iii) revising the small-estate statutes, and (iv) clarifying the burial power of attorney. In addition, there were six other enactments, and seven opinions from the Supreme Court of Virginia during the one-year period ending June 1, 2010 that present issues of interest in thisarea. This article reports on all of these legislative and judicial developments, along with …

Trusts And Estates - Spendthrift Trusts And The "Happenstance Of Bankruptcy" Rule, Jonathan R. Shulan

University of Arkansas at Little Rock Law Review

No abstract provided.

Family Law And Estate Law - Reproductive Technology - Use Of Artificial Reproductive Technologies After The Death Of A Parent, Lisa Medford

University of Arkansas at Little Rock Law Review

No abstract provided.

Construing Wills And Trusts During The Estate Tax Hiatus In 2010, S. Alan Medlin, F. Ladson Boyle

Faculty Publications

Many estate planners have drafted wills and revocable trusts with dispositive provisions based on formulas. These formulas often use language based on transfer tax terminology. For clients who die in 2010, the language used in these formulas will be ambiguous, if not apparently meaningless, because Congress failed to re-institute the estate tax for 2010. The resulting 2010 estate tax hiatus will result in will and revocable trust construction problems for the estates of many decedents who die during the hiatus. Courts will have to use statutory and common law construction methods to attempt to determine the decedent's dispositive intentions. This …

Morgens: More Qtip Mischief, Wendy G. Gerzog

All Faculty Scholarship

In Morgens, the court ruled in favor of the government that section 2035(b) applied to the gift taxes paid by the qualified terminable interest property (QTIP) trust beneficiaries to gross up the widow’s estate by that amount. Because the surviving (or donee) spouse must be taxed on the underlying property over which she has no ownership rights, Congress enacted section 2207A to allow the second spouse to recover from the beneficiaries of the property the transfer taxes relating to her gift or estate inclusion. However, the court held that section 2207A did not shift the gift tax liability to those …

In Re Est. Of Sure Chief, No. 2009-P-20 (Blkft. Tr. Ct. App., Jul. 1, 2010)., Blackfeet Appellate Court

Court Decisions

Court of Appeals held that petitioner could not appeal the appointment of personal representative for her mother’s estate until she had exhausted her remedies at the Lower Court “with verification of how her rights have been violated.”

Disclose - Disclose - Disclose - Longmeyer Distorts The Trustee's Duty To Inform Trust Beneficiaries, David M. English, Berry T. Turney, Dana G. Fitzsimons Jr.

Faculty Publications

The evolution of the law concerning the trustee's duty to disclose information to the trust beneficiaries, through cases like Longmeyer, creates new risks for trustees who are unaware of their obligations. Trustees will also face an increasing number of difficult situations as in Longmeyer as a result of an aging and increasingly infirm population. Although it can be a difficult decision to make under pressure, a trustee should give strong consideration to policies that favor prompt and complete disclosure even in difficult circumstances. Also, trustees should remember that the courts are available for their protection when confronted with genuine doubt …

The Role Of Trust Protectors In American Trust Law, Richard C. Ausness

Law Faculty Scholarly Articles

“A trust is an arrangement whereby one person (the trustor) transfers property to another person or entity (the trustee) and directs the trustee to hold the property for the benefit of another person (the beneficiary).” These days, trustees often have significant discretionary and administrative powers. The increased use of institutional trustees, as well as the growing sophistication and complexity of modern trust asset management, have induced many settlors to give their trustees greater power and discretion. In addition, many states have enacted statutes, such as the Uniform Trustees’ Powers Act or the Uniform Trust Code (UTC), that confer broad powers …

To Opine Or Not To Opine, That Is The Question: A Discussion Of A Patent Agent's Representation Of Others Before The United States Patent And Trademark Office In Light Of Revised Rules Of Patent Ethics And Professionalism, Nathan D. Renov

Cardozo Public Law, Policy & Ethics Journal

No abstract provided.

Rethinking Trust Law Reform: How Prudent Is Modern Prudent Investor Doctrine?, Stewart E. Sterk

Articles

During the 1990s, modern portfolio theory provided the theoretical foundation for significant reforms in trust investment doctrine-reforms that freed trustees from a legal regime in which they faced potential liability for making "speculative" investments. The reforms enabled trustees to pursue investment policies that protected beneficiaries against inflation risk. But the reforms worked too well; they encouraged trustees to invest a higher percentage of trust assets in equities just in time for a decade that has seen two precipitous stock market declines. Although no sensible investment strategy would have avoided losses during these periods of market turmoil, the doctrinal reforms endorsed …

The Times They Are Not A-Changin': Reforming The Charitable Split-Interest Rules (Again), Wendy C. Gerzog

Chicago-Kent Law Review

This article will review the history of the tax treatment of charitable split interest gifts, explain the inequities that Congress both cured and generated in its 1969 reforms, and propose solutions that are consistent with the goals of the 1969 legislation. The article discusses variations in the 1969 definition of a charitable split interest, which, because of the enacted statutory language, applies in instances where there is no abuse potential. The inequity produced by that definition penalizes the donor and flouts the rationale behind the 1969 legislation. By contrast, the creation of some required statutory forms of charitable split interests …

What Leona Helmsley Can Teach Us About The Charitable Deduction, Ray D. Madoff

Chicago-Kent Law Review

Leona Helmsley named a number of beneficiaries under her will (both human and canine), but among the unnamed beneficiaries are scholars interested in studying the role of philanthropy in the United States. By directing that an estimated $8 billion be used for the benefit of dogs, Mrs. Helmsley brought in to high relief policy issues regarding the appropriateness of the unlimited charitable deduction. I argue that these concerns are equally applicable, albeit less obvious, when it comes to more traditional charitable bequests. In this paper I will discuss the appropriateness of the unlimited estate tax deduction (particularly in light of …

Should Charitable Trust Enforcement Rights Be Assignable?, Joshua C. Tate

Chicago-Kent Law Review

In recent years, scholars have given much attention to the problem of charitable trust enforcement. Departing from the common law, section 405(c) of the Uniform Trust Code provides that "[t]he settlor of a charitable trust, among others, may maintain a proceeding to enforce the trust." Joshua Tate's paper will address the question of whether, and to what extent, a settlor's right to enforce a charitable trust should be assignable to third parties. Should the law permit the settlor of a charitable trust to assign her enforcement rights after the creation of the trust, or should assignments be recognized only if …