We filed a petition to distribute an estate in the Fresno Probate court on September 26, 2022. It’s a simple case. There is only one asset, being a parcel of land. There is only one heir. There is no accounting, because the sole heir waived the accounting. The probate clerk set the matter for hearing …
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The federal estate and gift tax has been law since World War I. In its simplest terms, it provides for the taxation of gifts made at death. A certain group of influential persons don’t like this tax, and have continually attacked it, using the pejorative label “death tax.” Like all taxes, the estate and gift …
Continue reading “The Death Tax Bogeyman – More Imaginary than Real”
Sometimes a court provides a clear statement of the law. Greenspan v. LADT LLC (2010) 191 Cal.App.4th 486 is one such opinion, providing a definite and authoritative answer to the issue of whether a trust is an entity – it is not. From the opinion. “Courts often speak of the alter ego doctrine as if …
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The law is filled with rules. Rules give guidance to judges. Sometimes the legal result does not square with the facts. In Estate of Britel (2015) 236 Cal.App.4th 127, “the court admitted into evidence a DNA test showing a 99.9996 percent probability that the decedent (Amine Britel) was A.S.’s (the child’s) father.” Yet the court …
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Case law reflects a tension in the interpretation of fiduciary duties. One camp favors a “I know it when I see it” approach, while the more rigorous jurists seek to discern the basis for imposition of such liability. This tension is on full display in the recent en banc decision in U.S. v. Milovanovic, ___ …
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A study of the ancient English common law begins, for many points, with the law that developed after 1066. The history of inheritances of land is certainly curious, as we inevitably find it tied to the duties owed in a feudal, agricultural society. Here is an excellent analysis from Oxford Prof. A. W. B. Simpson. …
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In a law review article published 50 years ago, Cambridge law professor L.S. Sealy reviewed two centuries of English case law on fiduciary relationships. He concluded, correctly, that different relationships give rise to different duties. As a starting point, “Fletcher Moulton L.J. once warned against what he called ‘the danger of trusting to verbal formulae’ …
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I am reading a series of lectures delivered in 1972 by S.F.C. Milsom and collected in The Legal Framework of English Feudalism (Cambridge University Press 1976). The text is difficult, as it frequently refers to rights, remedies, and procedures that long ago ceased to be relevant in the law of English-speaking nations. Still, as I …
Continue reading “The Long-Standing Connection Between Real Estate Law and Probate”
This author has often complained that the trust laws have not kept pace with modern practice as it relates to estate planning. Estate planning trusts (a.k.a. “living trust”) are used as will substitutes. The rules pertaining to wills are well known, and are established by case and by code. In contrast, the statutory rules relating …
This writer has commented regularly that the modern estate planning trust is a legal fiction. A convenient legal fiction, mind you, but still a legal fiction. The estate planning trust (also known by the unfortunate term, “living trust”) is a merely a will substitute. It takes effect – meaning, it provides a benefit to a …