Chapter 1. Uniform Probate Code General Provisions Chapter 1
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G L O S S a R Y
G L O S S A R Y A Administrator: A court appointed person or corporation in charge of managing the estate of a person who dies without leaving a will. Administrators have the same duties as Executors. In Minnesota, the administrator or executor is called the Personal Representative. Affiant: A person who makes an oath or affirmation and acknowledges the same in writing. In Minnesota this is usually done before a notary public. Affidavit: A voluntary written statement of facts confirmed by the oath or affirmation of the affiant. Affidavit of Collection of Personal Property: A sworn, notarized statement, used to collect assets of a small estate without going through the probate process. (aka Affidavit of a Small Estate). Agent: A person authorized by another to act for him. AKA: Also Known As (also lower case: aka). Amendment: A change or modification. See Codicil. Ancestor (an Ascendant): A deceased relative such as a parent or grandparent from whom one is descended. Ancillary Administration: A secondary administration in a state where the decedent owned property and which is not the state where the decedent was domiciled. Annuity: The right to receive fixed sums of money at regular intervals. Appoint: To designate and empower particular person(s) with authority to perform specified duties. Appraisal: An evaluation by disinterested and qualified persons as to the value of assets. Assets: All property of a person, corporation or estate of a decedent; real or personal, tangible or intangible. Attorney-in-fact: A person with the power granted under a power of attorney. B Beneficiary: An entity who benefits from the act of another. -
Wills--Deceased Residuary Legatee's Share Held Not to Pass by Way Of
St. John's Law Review Volume 38 Number 1 Volume 38, December 1963, Number Article 11 1 Wills--Deceased Residuary Legatee's Share Held Not to Pass by Way of Intestacy Where It Is Clearly Manifested That Surviving Residuary Legatees Should Share in the Residuum (In re Dammann's Estate, 12 N.Y.2d 500 (1963)) St. John's Law Review Follow this and additional works at: https://scholarship.law.stjohns.edu/lawreview This Recent Development in New York Law is brought to you for free and open access by the Journals at St. John's Law Scholarship Repository. It has been accepted for inclusion in St. John's Law Review by an authorized editor of St. John's Law Scholarship Repository. For more information, please contact [email protected]. ST. JOHN'S LAW REVIEW [ VOL. 38 argument against such an extension was rejected. 52 Likewise, the presence of a compensation fund for prisoners was held not necessarily to preclude prisoner suits under the FTCA.53 The Court found the compensation scheme to be non-comprehensive.5 4 The government's contention that variations in state laws might hamper uniform administration of federal prisons, as it was feared they would with the military, was rejected. Admitting that prisoner recoveries might be prejudiced to some extent by variations in state law, the Court regarded no recovery at all as a more serious prejudice to the prisoner's rights.55 In this connection, it is interesting to consider the desirability of spreading tort liability in the governmental area.5" The impact of the principal case is, in some respects, clear. -
Trusts for Purposes: Policy, Ambiguity, and Anomaly in the Uniform Laws
Florida State University Law Review Volume 26 Issue 4 Article 6 1999 Trusts for Purposes: Policy, Ambiguity, and Anomaly in the Uniform Laws Adam J. Hirsch [email protected] Follow this and additional works at: https://ir.law.fsu.edu/lr Part of the Law Commons Recommended Citation Adam J. Hirsch, Trusts for Purposes: Policy, Ambiguity, and Anomaly in the Uniform Laws, 26 Fla. St. U. L. Rev. 913 (2017) . https://ir.law.fsu.edu/lr/vol26/iss4/6 This Article is brought to you for free and open access by Scholarship Repository. It has been accepted for inclusion in Florida State University Law Review by an authorized editor of Scholarship Repository. For more information, please contact [email protected]. FLORIDA STATE UNIVERSITY LAW REVIEW TRUSTS FOR PURPOSES: POLICY, AMBIGUITY, AND ANOMALY IN THE UNIFORM LAWS Adam J. Hirsch VOLUME 26 SUMMER 1999 NUMBER 4 Recommended citation: Adam J. Hirsch, Trusts for Purposes: Policy, Ambiguity, and Anomaly in the Uniform Laws, 26 FLA. ST. U. L. REV. 913 (1999). TRUSTS FOR PURPOSES: POLICY, AMBIGUITY, AND ANOMALY IN THE UNIFORM LAWS* ADAM J. HIRSCH** I. INTRODUCTION........................................................................................................ 913 II. SCOPE AND EFFECTIVENESS .................................................................................. 915 III. PROCESS .................................................................................................................. 923 IV. DURATION OF TRUSTS ........................................................................................... -
Purpose Trusts As a Planning Tool for the 21St Century Thomas E
University of South Dakota School of Law From the SelectedWorks of Thomas E. Simmons September 8, 2019 Purpose Trusts as a Planning Tool for the 21st Century Thomas E. Simmons Brad Myers Available at: https://works.bepress.com/tom_simmons/71/ Sunday Session III: Purpose Trusts as a Planning Tool for the 21st Century 1 – Myers & Simmons Purpose Trusts as a Planning Tool for the 21st Century Bradley Myers is the Associate Dean for Administration and the Randy H. Lee Professor at the University of North Dakota School of Law. He became a Fellow of the American College of Trust & Estate Counsel in 2017. Governor Hoeven named him one of North Dakota’ Commissioners to the Uniform Law Commission in 2007 and has served on several drafting committees for Uniform Acts in the Trusts & Estates area. Professor Myers joined faculty at the University of North Dakota in 2001 and teaches Federal Income Taxation, Business Entities Taxation Trusts and Estates, Estate Planning. Professor Myers formerly practiced law in the states of Nevada, California and Oregon, with his practice focused primarily in tax, business and estate planning with a special focus on the issues surrounding the development of low-income housing. Professor Myers received BS and MS degrees in Kinesiology from the University of California, Los Angeles. He then spent two years at the University of California, Davis, doing post-graduate research in avian respiratory control. Professor Myers received his J.D. from the University of Oregon. He served on the editorial staff of the Oregon Law Review and was elected to the Order of the Coif. -
Wills and Trusts (4Thed
QUESTION 6 On January 5, 1990, Debra Duncan completed a printed form will. Frank Fellows and Gail Garven, two of Debra's co-workers, witnessed the will in Debra's presence and in the presence of each other. Neither read the will nor knew its contents. The completed will read: [Debra's handwritten additions are in bold] LAST WILL AND TESTAMENT I, Debra Duncan, a resident of Smalltown in the county of Orange of the State of Generality, being of sound and dsposing mind and memory, do make, publish and declare this my last WILL AND TESTAMENT, hereby revoking and making null and void any and all other Wills and Codicils heretofore made by me. FIRST, All my debts, funeral expenses, and any Estate or Inheritance taxes shall be paid out of my Estate, as soon after my death as shall be convenient. SECOND, I give, devise and bequeath, my 1989 Ford Escort to Frank Fellows and all my investments to Martha Murdo. THIRD, I nominate and appoint Sally Smith of Smalltown as the executor of this my Last Wlll and Testament. In Testimony Whereof, I have set my hand to this, My Last Will andTestarnent, on this 5th day of January, in the year 1990. IS/ Debra Duncan The foregoing instrument was signed by Debra Duncan in our presence who at her request and in her presence and in the presence of each other have subscribed our names as witnesses. Is/ Frank Fellows Dated this 5th day of January 1990. Is1 Gail Garven Dated this 5th day of January 1990. -
Comparison of Trust Laws Bermuda, British Virgin Islands and Cayman Islands
Comparison of Trust Laws Bermuda, British Virgin Islands and Cayman Islands Preface This publication has been prepared for the assistance of anyone who is considering establishing a trust under the laws of Bermuda, the British Virgin Islands or the Cayman Islands. It deals in broad terms with the requirements of the respective laws. It is not intended to be exhaustive but merely to provide general information to our clients and their professional advisers. We recommend that our clients seek legal advice in Bermuda, the British Virgin Islands or the Cayman Island on their specific proposals before taking any steps to implement them. Conyers Dill & Pearman Bermuda British Virgin Islands Cayman Islands GENERAL Principal legislation Trustee Act 1975 Trustee Act (“TA”) The Trusts Law (2017 Revision). Trusts (Special Provisions) Act 1989 Virgin Islands Special Trusts Act 2003 The Fraudulent Dispositions Law (1996 (“TSPA”) (“VISTA”) Revision) Perpetuities and Accumulations Act The Perpetuities Law (1999 Revision) 1989 Perpetuities and Accumulations Act 2009 Ultimate court of Privy Council Privy Council Privy Council appeal OECD List White list White list White list Hague Convention Ratified and implemented Ratified and implemented Not ratified Perpetuity period The rule against perpetuities has been 100 years 150 years for ordinary trusts; the rule for private trusts abolished or disapplied for all trusts against perpetuities does not apply to created after 1 August 2009. STAR trusts. SETTLOR RESERVED POWERS Bermuda British Virgin Islands Cayman Islands s.2(3) TSPA: s. 2 (4) TA: The reservation by the s.14 Trusts Law: settlor of certain rights and powers … The reservation by the settlor of certain Settlor may reserve or grant power to: are not necessarily inconsistent with rights and powers … are not necessarily the existence of a trust. -
Uniform Trust Code Final Act with Comments
UNIFORM TRUST CODE (Last Revised or Amended in 2010) Drafted by the NATIONAL CONFERENCE OF COMMISSIONERS ON UNIFORM STATE LAWS and by it APPROVED AND RECOMMENDED FOR ENACTMENT IN ALL THE STATES at its ANNUAL CONFERENCE MEETING IN ITS ONE-HUNDRED-AND-NINTH YEAR ST. AUGUSTINE, FLORIDA JULY 28 – AUGUST 4, 2000 WITH PREFATORY NOTE AND COMMENTS Copyright © 2000, 2010 By NATIONAL CONFERENCE OF COMMISSIONERS ON UNIFORM STATE LAWS April 10, 2020 1 ABOUT NCCUSL The National Conference of Commissioners on Uniform State Laws (NCCUSL), now in its 114th year, provides states with non-partisan, well-conceived and well-drafted legislation that brings clarity and stability to critical areas of state statutory law. Conference members must be lawyers, qualified to practice law. They are practicing lawyers, judges, legislators and legislative staff and law professors, who have been appointed by state governments as well as the District of Columbia, Puerto Rico and the U.S. Virgin Islands to research, draft and promote enactment of uniform state laws in areas of state law where uniformity is desirable and practical. $ NCCUSL strengthens the federal system by providing rules and procedures that are consistent from state to state but that also reflect the diverse experience of the states. $ NCCUSL statutes are representative of state experience, because the organization is made up of representatives from each state, appointed by state government. $ NCCUSL keeps state law up-to-date by addressing important and timely legal issues. $ NCCUSL’s efforts reduce the need for individuals and businesses to deal with different laws as they move and do business in different states. -
Enforcing Private Purpose Trusts
Enforcing Private Purpose Trusts Mark Pawlowski and James Brown examine the possibility of using the mechanism of a residuary legatee in order to enforce a trust for non-charitable purposes As trust lawyers will be aware, a trust for non-charitable purposes is void under English law as having no human beneficiary capable of enforcing the trust. The so-called "human beneficiary" principle is of long-standing and, although there are several notable (albeit limited) exceptions, the general principle remains that a trust must have beneficiaries who are capable of owning the trust property and enforcing the obligations and duties of the trustees. The reason for the rule is that a trust gives rise to obligations and so, consequently there must be a beneficiary to whom the duties of a trustee are owed. Conversely, the beneficiaries have a correlative right to render the trustee accountable for his actions and so, if necessary, compel performance of his obligations by court order. If there are no beneficiaries with equitable interests in the trust assets, there is technically no one "in whose favour the court can decree specific performance": Morice v Bishop of Durham (1804) 9 Ves 399. The difficulty, of course, with this approach is that it frustrates the wishes of a settlor or testator, who may want to benefit a legitimate object or purpose which does not fall within the definition of a charity. A trust, for example, for the repair and maintenance of a private country house will not be charitable as it does not fall readily within any of the recognised heads of charity set out in s.3 of the Charities Act 2011 and lacks the element of public benefit. -
Some Basic Facts About Wills
SWEET& MAIER, S.C. SOME BASIC FACTS ABOUT WILLS What Property Will Pass Under Your Will? All property which is in your name alone will be disposed of by your Will, which would include, for example, a bank account, stock, real estate, your automobile, your television, household items and similar items held in your name alone. If you own an undivided interest in property with another, your undivided interest will pass under your Will, but not if the property which you own with another is joint with right of survivorship, or is owned by you and your spouse as marital property, with right of survivorship. Assets Which Do Not Pass Under Your Will: Property held in joint names with rights of survivorship will pass to the survivor (i.e. if the title to your house is held by you and your spouse as survivorship marital property). Life insurance payable to named beneficiaries will pass to the beneficiaries. Pension, retirement or other employee benefits payable to named beneficiaries will pass to the named beneficiaries. U.S. Savings Bonds which are in joint names will pass to the survivor. Those payable on death to a named beneficiary will pass to the named beneficiaries. If the named beneficiary in any of the above examples is “your estate” of your “executors and administrators”, then this property will pass under your Will. GENERAL DISPOSITION PLANS With property which will pass under your Will, it is not necessary that you name or describe each item. Your assets can be described by groups, categories or in any other way which adequately delineates your property. -
The Uniform Probate Code Upends the Law of Remainders
Michigan Law Review Volume 94 Issue 1 1995 The Uniform Probate Code Upends the Law of Remainders Jesse Dukeminier University of California, Los Angeles Follow this and additional works at: https://repository.law.umich.edu/mlr Part of the Estates and Trusts Commons, and the Legislation Commons Recommended Citation Jesse Dukeminier, The Uniform Probate Code Upends the Law of Remainders, 94 MICH. L. REV. 148 (1995). Available at: https://repository.law.umich.edu/mlr/vol94/iss1/4 This Article is brought to you for free and open access by the Michigan Law Review at University of Michigan Law School Scholarship Repository. It has been accepted for inclusion in Michigan Law Review by an authorized editor of University of Michigan Law School Scholarship Repository. For more information, please contact [email protected]. THE UNIFORM PROBATE CODE UPENDS THE LAW OF REMAINDERS Jesse Dukeminier* Nothing is more settled in the law of remainders than that an indefeasibly vested remainder is transmissible to the remainder man's heirs or devisees upon the remainderman's death. Thus, where a grantor conveys property "to A for life, then to B and her heirs," B's remainder passes to B's heirs or devisees if B dies during the life of A. Inheritability of vested remainders was recognized in the time of Edward I, and devisability was recognized with the Stat ute of Wills in 1540. Section 2-707 of the Uniform Probate Code (UPC),1 adopted in 1990, upends this law. In a comprehensive remake of the law of remainders, section 2-707 provides that, unless the trust instrument provides otherwise, all fu.ture interests in trust are contingent on the beneficiary's surviving the distribution date. -
Inheritance Taxes
Pfeufer v. Cyphers, No. 141, September Term 2004. Opinion by Bell, C.J. WILLS - INHERITANCE TAXES A testator may direct inheritance taxes to be paid from the entire residuary estate prior to apportionment among residuary legatees even when a statute exempts some of the residuary legatees from the payment of inheritance taxes. IN THE COURT OF APPEALS OF MARYLAND No. 141 September Term, 2004 ______________________________________ BRUCE PFEUFER v. PAMELA J. CYPHERS, PERSONAL REPRESENTATIVE OF THE ESTATE OF JAMES RUSSELL HOFFMAN ______________________________________ Bell, C.J. Raker *Wilner Cathell Harrell Battaglia Greene, JJ. ______________________________________ Opinion by Bell, C.J. ______________________________________ Filed: March 19, 2007 *Wilner, J., now retired, participated in the hearing and conference of this case while an active member of this Court; after being recalled pursuant to the Constitution, Article IV, Section 3A, he also participated in the decision and adoption of this opinion. The instant case involves the interpretation of language in the Last Will and Testament of James Russell Hoffman, the testator, and the effect of that language in light of Maryland Code (1988, 2004 Repl. Vol.), § 7-203(b)(2) of the Tax-General Article.1 The testator left his residuary estate to four people, three of whom are relatives of the testator and, therefore, pursuant to the above statute, each of whom is exempt from paying inheritance taxes on his or her share of the residuary estate. That is not the case with Bruce Pfeufer, the fourth residuary legatee, the appellant. He is not a relative of the testator and, thus, he does not enjoy any such exemption. -
Failure of Gifts by Will
Failure of Gifts by Will This month’s CPD will examine the many reasons why a gift made by Will may fail. This paper will look at the most common reasons for the failure of gifts, listed below, but practitioner’s should be aware that this list is non-exhaustive and gifts may fail for other reasons; including a contingency for a gift not being met, as a matter of public policy, or even because a condition attached to a gift is void. MAIN REASONS A GIFT MAY FAIL A gift may fail for one of the following main reasons: The beneficiary or a spouse or civil partner of the beneficiary is an attesting witness The divorce or dissolution of a marriage or civil partnership between the testator and the beneficiary Lapse Ademption Abatement Uncertainty The beneficiary is guilty of the unlawful killing of the testator The beneficiary disclaims their gift BENEFICIARY OR THEIR SPOUSE IS AN ATTESTING WITNESS This is the most well-known reason for the failure of a gift. Section 15 of the Wills Act 1837 deprives an attesting witness and their spouse or civil partner from receiving any benefit under the Will which they attest. If a beneficiary or their spouse is an attesting witness the attestation itself will be valid and this will not cause the Will to fail; only the gift to the witness or their spouse shall be void. There are some key exceptions to this general rule: If a beneficiary was not married to the witness at the time the attestation took place but married the witness afterwards then they will not be deprived of their benefit.