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Less Trust Means More Trusts, Bridget J. Crawford 2019 Pace University School of Law

Less Trust Means More Trusts, Bridget J. Crawford

Washington and Lee Law Review Online

The word “trust” has multiple meanings. In everyday speech, it refers to a feeling of confidence associated with integrity, such as trusting that a friend will keep a secret. In the financial context, some law students, lawyers and lucky individuals also understand that a trust is a near-magical device that splits legal and equitable title. A trustee holds formal legal title to property for the benefit of a beneficiary simply because the grantor declares it to be so. By turning the spotlight on “trust,” in both senses of the word, one can discern fault lines in contemporary U.S. political ...


Alpha Duties: The Search For Excess Returns And Appropriate Fiduciary Duties, Ian Ayres, Edward Fox 2019 Yale Law School

Alpha Duties: The Search For Excess Returns And Appropriate Fiduciary Duties, Ian Ayres, Edward Fox

Articles

Modern finance theory and investment practice have shifted toward “passive investing.” The current consensus is that most savers should invest in mutual funds or ETFs that are (i) well-diversified, (ii) low-cost, and (iii) expose their portfolios to age-appropriate stock market risk. The law governing trustees, investment advisers, broker–dealers, 401(k) plan managers, and other investment fiduciaries has evolved to push them gently toward this consensus. But these laws still provide broad scope for fiduciaries to recommend that clients invest instead in specific assets that they believe will produce “alpha” by outperforming the market. Seeking alpha comes at a cost ...


Table Of Contents, Seattle University Law Review 2019 Seattle University School of Law

Table Of Contents, Seattle University Law Review

Seattle University Law Review

No abstract provided.


Pascua V. Bayview Loan Servicing, Llc, 135 Nev. Adv. Op. 4 (Feb. 7, 2019), Scott Cooper 2019 University of Nevada, Las Vegas -- William S. Boyd School of Law

Pascua V. Bayview Loan Servicing, Llc, 135 Nev. Adv. Op. 4 (Feb. 7, 2019), Scott Cooper

Nevada Supreme Court Summaries

The Court determined that an individual who has been appointed special administrator of a decedent’s estate is entitled to participate in the Foreclosure Mediation Program if the property is the special administrator’s primary residence, and they retain an ownership interest through intestate succession laws.


Of Piketty And Perpetuities: Dynastic Wealth In The Twenty-First Century (And Beyond), Eric Kades 2019 William & Mary Law School

Of Piketty And Perpetuities: Dynastic Wealth In The Twenty-First Century (And Beyond), Eric Kades

Boston College Law Review

For the first time since independence, in a nation founded in large part on the rejection of a fixed nobility determined by birth and perpetuated by inheritance, America is paving the way for the creation of dynastic family wealth. Abolition of the Rule Against Perpetuities in over half the states along with sharp reductions in, and likely elimination of, the federal estate tax mean that there soon will be no obstacles to creating large pools of dynastic wealth insuring lavish incomes to heirs for generations without end. The timing of these legal changes could hardly be worse. Marshaling innovative economic ...


The Supreme Court, Due Process And State Income Taxation Of Trusts, Bridget J. Crawford, Michelle S. Simon 2019 Elisabeth Haub School of Law at Pace University

The Supreme Court, Due Process And State Income Taxation Of Trusts, Bridget J. Crawford, Michelle S. Simon

Pace Law Faculty Publications

What are the constitutional limits on a state's power to tax a trust with no connection to the state, other than the accident that a potential beneficiary lives there? The Supreme Court of the United States will take up this question this term in the context of North Carolina Department of Revenue v. Kimberley Rice Kaestner 1992 Family Trust. The case involves North Carolina's income taxation of a trust with a contingent beneficiary, meaning someone who is eligible, but not certain, to receive a distribution or benefit from the trust, who resides in that state. Part I of ...


Less Trust Means More Trusts, Bridget J. Crawford 2019 Elisabeth Haub School of Law at Pace University

Less Trust Means More Trusts, Bridget J. Crawford

Pace Law Faculty Publications

The word “trust” has multiple meanings. In everyday speech, it refers to a feeling of confidence associated with integrity, such as trusting that a friend will keep a secret. In the financial context, some law students, lawyers and lucky individuals also understand that a trust is a near-magical device that splits legal and equitable title. A trustee holds formal legal title to property for the benefit of a beneficiary simply because the grantor declares it to be so. By turning the spotlight on “trust,” in both senses of the word, one can discern fault lines in contemporary U.S. political ...


Of Piketty And Perpetuities: Dynastic Wealth In The Twenty-First Century (And Beyond), Eric Kades 2019 William & Mary Law School

Of Piketty And Perpetuities: Dynastic Wealth In The Twenty-First Century (And Beyond), Eric Kades

Faculty Publications

For the first time since independence, in a nation founded in large part on the rejection of a fixed nobility determined by birth and perpetuated by inheritance, America is paving the way for the creation of dynastic family wealth. Abolition of the Rule Against Perpetuities in over half the states along with sharp reductions in, and likely elimination of, the federal estate tax mean that there soon will be no obstacles to creating large pools of dynastic wealth insuring lavish incomes to heirs for generations without end. The timing of these legal changes could hardly be worse. Marshaling innovative economic ...


Sb 301 - Wills, Trusts, And Administration Of Estates, Morgan S. Ownbey, Paul M. Napolitano 2018 Georgia State University College of Law

Sb 301 - Wills, Trusts, And Administration Of Estates, Morgan S. Ownbey, Paul M. Napolitano

Georgia State University Law Review

The Act creates the “Revised Uniform Fiduciary Access to Digital Assets Act,” extends fiduciaries’ powers to include managing tangible property and digital assets, and provides conforming cross-references for a conservator.


Hitting Rewind: The Supreme Court Of Pennsylvania In Trust Under Agreement Of Taylor Signals A Move Away From Modern Developments Of Trust Law By Requiring More Stringent Standards For Corporate Trustee Removal, Ryan J. Ahrens 2018 Villanova University Charles Widger School of Law

Hitting Rewind: The Supreme Court Of Pennsylvania In Trust Under Agreement Of Taylor Signals A Move Away From Modern Developments Of Trust Law By Requiring More Stringent Standards For Corporate Trustee Removal, Ryan J. Ahrens

Villanova Law Review

No abstract provided.


Hb 121 - Property, Wills, Trusts, And Estates, Colt Burnett, Ben Dell'Orto 2018 Georgia State University College of Law

Hb 121 - Property, Wills, Trusts, And Estates, Colt Burnett, Ben Dell'orto

Georgia State University Law Review

The Act amends several aspects of trust law, including updating the application of the Uniform Statutory Rule Against Perpetuities in Georgia by extending the time within which a nonvested property interest or power of appointment must vest from 90 to 360 years. The Act also allows for modifications of a trust without judicial approval in some cases. Many passages are simplified, including the calculation of compensation for a trustee, which can now be modified through different procedures. Finally, the Act codifies the role of trust directors.


Do You Tru$T Your Children: A Parent’S Final Dilemma, J. Sam Rodgers 2018 Cornell Law School, J.D. Candidate 2019

Do You Tru$T Your Children: A Parent’S Final Dilemma, J. Sam Rodgers

Cornell Journal of Law and Public Policy

Incentive trusts developed out of unique American inheritance laws and have become a regarded estate planning tool. Policy, observation, and research suggest that they are inadequate, although still uncritically used. A Hidden Bonus Trust is an improved solution that builds on the shortcomings of incentive trusts. Hidden Bonus Trusts quench parents’ desires to leave legacies and motivate troubled beneficiaries.


The Holy Grail? Designing And Teaching An Integrated Doctrine And Drafting Course, Claire C. Robinson May 2018 Cleveland-Marshall College of Law, Cleveland State University

The Holy Grail? Designing And Teaching An Integrated Doctrine And Drafting Course, Claire C. Robinson May

Law Faculty Articles and Essays

I’ve long considered teaching doctrine and skills together in a single course to be the holy grail of legal education. If we could do so successfully, we might make significant strides in providing a legal education that better prepares our students to be practicing lawyers. In spring 2016, my colleague Professor April Cherry and I took the plunge and collaboratively offered a course titled Estates and Trusts: Doctrine and Drafting at our institution, Cleveland-Marshall College of Law. This essay describes our experience and lessons learned pursuing the holy grail.


In Re Connell Living Trust, 134 Nev. Adv. Op. 73 (Sep. 13, 2018) (En Banc), Pengxiang Tian 2018 University of Nevada, Las Vegas -- William S. Boyd School of Law

In Re Connell Living Trust, 134 Nev. Adv. Op. 73 (Sep. 13, 2018) (En Banc), Pengxiang Tian

Nevada Supreme Court Summaries

The Court determined that a no-contest clause in a trust does not foreclose a beneficiary’s interest if the beneficiary, acting as the trustee, breaches his or her fiduciary duty.


Community Property V. Contracts: A Domestic Conflict Of Law Being Waged By The Washington Wife, Eldon H. Reiley 2018 Gonzaga University School of Law

Community Property V. Contracts: A Domestic Conflict Of Law Being Waged By The Washington Wife, Eldon H. Reiley

Gonzaga Law Review

No abstract provided.


Equitable Relief For Erisa Benefit Plan Designation Mistakes, Raymond C. O'Brien 2018 The Catholic University of America, Columbus School of Law

Equitable Relief For Erisa Benefit Plan Designation Mistakes, Raymond C. O'Brien

Catholic University Law Review

Since its enactment in 1974, the Employee Retirement Income Security Act (ERISA) and related insurance and disability programs provided retirement security for employees and employers, amassing more than $9 trillion in protected assets. Congress preempted conflicting state laws so as to promote certainty of distribution and ease of administration, two hallmarks of ERISA-governed plans. Nonetheless, since 1974, American society embraced spousal equality, an increased number of marriages end in divorce, and wealth most often passes through nonprobate transfers such as insurance contracts and pension policy plans. To accommodate these societal and wealth changes, states enacted statutes to provide elective share ...


The Rise Of Fiduciary Law, Tamar Frankel 2018 Boston University School of Law

The Rise Of Fiduciary Law, Tamar Frankel

Faculty Scholarship

The law that defines and regulates fiduciary relationships appears in many legal areas, such as family law, surrogate decision-making, international law, agency law, employment law, pension law, remedies rules, banking law, financial institutions' regulation, corporate law, charities law not for profit organizations law, and the law concerning medical services.

Fiduciary relationships, and the concepts on which they are grounded, appear not only in the law. They appear in other areas of knowledge: economics, psychology; moral norms and pluralism. Fiduciary law has a very long history. It was recognized in Roman law and the British common law and appeared decades ago ...


The New Family Freedom, Emily J. Stolzenberg 2018 Columbia Law School

The New Family Freedom, Emily J. Stolzenberg

Boston College Law Review

In family law, “autonomy” has traditionally meant freedom from state interference in one’s intimate life. This Article describes an emergent, libertarian vision of autonomy as property rights that also demands freedom from other family members. This conception, “choice about obligations,” holds redistribution of resources between intimates to be illegitimate unless the richer party “chose” to take on financial obligations ex ante by ceremonially marrying or formally contracting. But as more people conduct their intimate lives outside these legal institutions, choice about obligations increasingly collides with another, more fundamental, family law principle: the imperative to “privatize dependency,” i.e., to ...


From Waqf, Ancestor Worship To The Rise Of The Global Trust: A History Of The Use Of The Trust As A Vehicle For Wealth Transfer In Singapore, Hang Wu TANG 2018 Singapore Management University

From Waqf, Ancestor Worship To The Rise Of The Global Trust: A History Of The Use Of The Trust As A Vehicle For Wealth Transfer In Singapore, Hang Wu Tang

Research Collection School Of Law

This Article focuses on the migration of English trust law to Singapore and its past and present uses in relation to wealth transfer through the ages. In Singapore, trust law arrived together with the corpus of English law. Unlike criminal law, which was influenced by Indian codes promulgated by the English in British India, trust law was received into Singapore directly from England.


A Pro Debtor And Majority Approach To The "Automatic Stay" Provision Of The Bankruptcy Code—In Re Cowen Incorrectly Decided, Claudia A. Restrepo 2018 Boston College Law School

A Pro Debtor And Majority Approach To The "Automatic Stay" Provision Of The Bankruptcy Code—In Re Cowen Incorrectly Decided, Claudia A. Restrepo

Boston College Law Review

On February 27, 2017, in In re Cowen, the U.S. Court of Appeals for the Tenth Circuit held that only affirmative actions to either obtain possession or exercise control over property of the bankruptcy estate constitute violations of the automatic stay provision. In doing so, the court concluded that the passive retention of an asset that was acquired pre-petition was not a violation of the automatic stay, and that the creditor had no obligation to relinquish the asset to the bankruptcy estate. This Comment argues that the Tenth Circuit misinterpreted the automatic stay provision of the Bankruptcy Code, disregarding ...


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