Table of contents for Wills, trusts, and estates / Jesse Dukeminier ... [et al.].

Bibliographic record and links to related information available from the Library of Congress catalog.

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List of Illustrations??000
Chapter 1. Introduction to Estate Planning??1
Section A. The Power to Transmit Property at Death: Its Justification and 
	1. The Right to Inherit and the Right to Convey??1
			Jefferson?s Works??1
				Blackstone, Commentaries??1
				Locke, Two Treaties of Government??2
				Hodel v. Irving??3
				Notes and Questions??8
		2. The Policy of Passing Wealth at Death??9
Parsons et al., The ?Gift of Life? and Its Reciprocation??
Brittain, Inheritance and the Inequality of Material Wealth??
Halbach, An Introduction to Death, Taxes and Family 
Bentham, The Theory of Legislation??11
Oliver, Shapiro & Press, ?Them That?s Got Shall Get?: 
Inheritance and Achievement in Wealth Accumulation??
Ascher, Curtailing Inherited Wealth??14
Kristol, Taxes, Poverty, and Equality??16
				Note: Inheritance in the Erstwhile Soviet Union??17
Blum & Kalven, The Uneasy Case for Progressive 
Langbein, The Twentieth-Century Revolution in Family 
Wealth Transmission??19
		3. An Introduction to the Problem of the Dead Hand??20
Restatement (Third) of Property: Wills and Other Donative 
Transfers ?10.1??20
Shapira v. Union National Bank??21
Notes, Questions, and Problems??26
	Section B. Transfer of the Decedent?s Estate??30
		1. Probate and Nonprobate Property??30
		2. Administration of Probate Estates??31
			a. History and Terminology??31
			b. A Summary of Probate Procedure??33
			 (1) Opening probate??33
			 (2) Supervising the representative?s actions??36
			 (3) Closing the estate??36
			c. Is Probate Necessary? ??37
			d. Universal Succession??39
	Section C. An Estate Planning Problem??40
		1. The Client?s Letter and Its Enclosures??40
		2. Some Preliminary Questions Raised by Brown?s Letter??42
		3. Additional Data on the Browns? Family and Assets??43
			a. Family Data??43
			b. Assets??45
			c. Liabilities??47
			d. Assets and Liabilities: Summary??48
	Section D. Professional Responsibility??48
		1. Duties to Intended Beneficiaries??49
				Simpson v. Calivas??49
		2. Conflicts of Interest??54
				Hotz v. Minyard??54
				A. v. B. ??57
Chapter 2. Intestacy: An Estate Plan by Default??59
 Section A. The Basic Scheme??59
 	1. Introduction??59
Uniform Probate Code ??2-101, 2-102, 2-103, 2-105??
Note: The Meaning of Heirs and the Transfer of an 
		2. Share of Surviving Spouse??62
				Problems and Question??64
				Note: Domestic Partners and Intestate Succession??65
				Janus v. Tarasewicz??68
				Problems, Questions, and Note??72
		3. Shares of Descendants??73
				Problem and Questions??76
				Note: Negative Disinheritance??77
		4. Shares of Ancestors and Collaterals??78
Massachusetts General Laws ch. 190, ?3(6) ??80
				Problems and Note??82
				Note: Half-Bloods??83
	Section B. Transfers to Children??83
		1. Meaning of Children??83
			a. Adopted Children??83
				Hall v. Vallandingham??83
				Uniform Probate Code ??2-113, 2-114??86
				Notes, Problems, and Questions??87
				Minary v. Citizens Fidelity Bank & Trust Co. ??89
				Notes and Problems??92
				O?Neal v. Wilkes??94
				Problem, Notes, and Question??98
 b. Posthumous Children??99
 c. Nonmarital Children??100
 	Question and Note??101
d. Reproductive Technology and New Forms of Parentage??
 	Woodward v. Commissioner of Social Security??102
 	Notes and Questions??108
 	Note: Surrogate Motherhood and Married Couples??111
Note: Assisted Reproduction and Same-Sex Couples??
		2. Advancements??114
				Problems, Questions, and Note??115
				Uniform Probate Code ?2-109??115
		3. Guardianship and Conservatorship of Minors??116
			a. Guardian of the Person??117
			b. Property Management Options??117
			 (1) Guardianship of the property??117
			 (2) Conservatorship??118
			 (3) Custodianship??118
			 (4) Trusts??119
			 (5) Variations on transfers to minors??120
				An Exercise in Lawyering??122
	Section C. Bars to Succession??126
		1. Homicide??126
				In re Estate of Mahoney??126
				Notes and Problems??129
				California Probate Code ?259??132
		2. Disclaimer??132
				Drye v. United States??134
				Question and Note??135
				Troy v. Hart??136
				Notes and Questions??139
Chapter 3. Wills: Capacity and Contests??141
 Section A. Mental Capacity??141
 	1. The Test of Mental Capacity??141
 			In re Estate of Wright??141
 			Notes and Question??145
 	2. Why Require Mental Capacity? ??146
 	3. Insane Delusion??148
 			In re Strittmater??149
 			In re Honigman??150
 			Notes and Questions??154
Langbein, Living Probate: The Conservatorship Model??
	Section B. Undue Influence??158
				Estate of Lakatosh??159
Restatement (Third) of Property: Wills and Other Donative 
Transfers ?8.3??160
Notes and Questions??161
Lipper v. Weslow??162
Note: No-Contest Clauses??167
Note: Bequest to Attorneys??167
In re Will of Moses??170
In re Kaufmann?s Will??174
Question and Notes??176
An Exercise in Lawyering: Seward Johnson?s Estate??
Notes and Questions??183
	Section C. Fraud??186
				Puckett v. Krida??187
	Section D. Duress??189
				Latham v. Father Divine??189
	Section E. Tortious Interference with Expectancy??194
				Marshall v. Marshall??194
Chapter 4. Wills: Formalities and Forms??199
	Section A. Execution of Wills??199
1.	Attested Wills??199
a. The Function of Formalities??199
				Baron, Gifts, Bargains, and Form??199
				Lindgren, The Fall of Formalism??199
Gulliver & Tilson, Classification of Gratuitous Transfers??
Comparison of Statutory Formalities for Formal Wills??
b. The Formalities in Action??203
 Uniform Probate Code ?2-502??203
				In re Groffman??204
				Stevens v. Casdorph??205
				Questions, Notes, and Problems??208
				Estate of Parsons??211
				Problems: Purging Statutes??215
				Recommended Method of Executing a Will??215
				Note: Safeguarding a Will??218
				In re Pavlinko?s Estate??220
				In re Snide??223
				Problem and Note??225
c. Curative Doctrines??225
 Uniform Probate Code ?2-503??226
				In re Will of Ranney??226
				In re Estate of Hall??231
				Notes and Questions??233
		2. Holographic Wills??236
				The Jolly Testator Who Makes His Own Will??236
Gulliver & Tilson, Classification of Gratuitous Transfers??
				Kimmel?s Estate??237
				Questions and Notes??239
				Estate of Mulkins??242
				Estate of Johnson??242
				Estate of Muder??243
				Notes and Questions??244
				In re Estate of Kuralt??245
				Notes and Questions??249
	Section B. Revocation of Wills??251
		1. Revocation by Writing or Physical Act??251
				Uniform Probate Code ?2-507??252
				Problem: Revocation by Inconsistency??252
				Harrison v. Bird??253
				Note: Probate of Lost Wills??254
				Thompson v. Royall??255
				Questions and Problems??257
		2. Dependent Relative Revocation and Revival??259
				LaCroix v. Senecal??260
				Notes and Problems??262
				Note and Problem??263
				Estate of Alburn??264
				Note: Revival??267
				Uniform Probate Code ?2-509??268
				Note, Questions, and Problem??268
3. Revocation by Operation of Law: Change in Family Circumstances??
				Uniform Probate Code ?2-804??269
				Problem and Note??270
	Section C. Components of a Will??271
		1. Integration of Wills??271
		2. Republication by Codicil??272
		3. Incorporation by Reference??273
				Uniform Probate Code ?2-510??273
				Clark v. Greenhalge??273
				Simon v. Grayson??277
				Notes and Problems??277
				Uniform Probate Code ?2-513??278
				Johnson v. Johnson??279
				Problems and Note??284
		4. Acts of Independent Significance??285
				Uniform Probate Code ?2-512??285
	Section D. Contracts Relating to Wills??286
		1. Contracts to Make a Will??287
		2. Contracts Not to Revoke a Will??288
				Uniform Probate Code ?2-514??289
				Via v. Putnam??290
				Notes and Problems??294
Chapter 5. Nonprobate Transfers and Planning for Incapacity??295
	Section A. An Introduction to Will Substitutes??295
Langbein, The Nonprobate Revolution and the Future of 
the Law of Succession??295
	Section B. Revocable Trusts??299
1.	Introduction??299
Farkas v. Williams??299
Notes and Problem??304
In re Estate and Trust of Pilafas??307
State Street Bank & Trust Co. v. Reiser??308
Notes and Problems??309
2.	Pour-Over Wills??310
Uniform Probate Code ?2-511??311
Questions, Problem, and Note??312
Clymer v. Mayo??313
Notes and Problem??314
3.	Use of Revocable Trusts in Estate Planning??316
a.	Introduction??316
b.	Consequences During Life of Settlor??316
c.	Consequences at Death of Settlor: Avoidance of Probate??
Note: Marketing of Living Trusts??321
Section C. Life Insurance, Pension Accounts, Bank Accounts, and Other 
Payable-on-Death Arrangements??322
1.	Life Insurance??322
Wilhoit v. Peoples Life Insurance Co. ??325
Estate of Hillowitz??328
Questions and Note??329
Uniform Probate Code ?6-101??330
Note and Questions??331
Cook v. Equitable Life Assurance Society??331
Notes and Questions??332
2.	Pension Accounts??333
Langbein, The Twentieth-Century Revolution in Family 
Wealth Transmission??333
Note and Problems??335
Egelhoff v. Egelhoff??336
				Notes and Questions??340
3.	Multiple-Party Bank and Brokerage Accounts??341
Franklin v. Anna National Bank of Anna??342
Notes and Problems??343
	Section D. Joint Tenancies in Realty??344
	Section E. Planning for Incapacity??345
1.	The Durable Power of Attorney??346
Franzen v. Norwest Bank Colorado??347
Problems and Notes??348
2.	Directives Regarding Health Care and Disposition of the Body??
a.	Advance Directives: Living Wills, Health Care Proxies, and 
Dresser, Precommitment: A Misguided Strategy for 
Securing Death with Dignity??352
Bush v. Schiavo??354
Lindgren, Death by Default??358
b.	Disposition of the Body??360
Note: Elder Law??363
Chapter 6. Construction of Wills??365
 Section A. Mistaken or Ambiguous Language in Wills??365
1.	The Traditional Approach: No Extrinsic Evidence, No Reformation??
Mahoney v. Grainger??366
Notes and Questions??368
2.	Slouching Toward Reformation: Correcting Mistakes Without the 
Power to Reform Wills??371
The Causes and Effects of Will Defects??372
Arnheiter v. Arnheiter??372
Estate of Gibbs??374
3.	Openly Reforming Wills for Mistake??374
Erickson v. Erickson??374
Restatement (Third) of Property: Wills and Other Donative 
Transfers ?12.1??380
Langbein, Curing Execution Errors and Mistaken Terms in 
Questions and Notes??383
Fleming v. Morrison??386
	Section B. Death of Beneficiary Before Death of Testator??387
		1. Introduction??387
 Estate of Russell??388
				Questions and Note??392
		2. Antilapse Statutes??392
				Uniform Probate Code ?2-605??393
				Allen v. Talley??393
				Problems and Notes??395
				Jackson v. Schultz??398
				Note and Problem??399
		3. Class Gifts??399
Restatement (Third) of Property: Wills and Other Donative 
Transfers ??13.1, 13.2??399
Dawson v. Yucus??400
In re Moss??402
American Law of Property ?22.13??404
Section C. Changes in Property After Execution of Will??405
1.	Ademption by Extinction??405
Wasserman v. Cohen??406
Problems and Notes??408
Uniform Probate Code ?2-606??410
Problems and Note??411
2.	Stock Splits and the Problem of Increase??412
3.	Satisfaction of General Pecuniary Bequests??413
4.	Exoneration of Liens??413
5.	Abatement??414
Chapter 7. Restrictions on the Power of Disposition: Protection of the Spouse and 
 Section A. Rights of the Surviving Spouse??417
1.	Introduction to Marital Property Systems??417
2.	Rights of Surviving Spouse to Support??419
a.	Social Security??419
b.	Private Pension Plans??420
c.	Homestead??421
d.	Personal Property Set-Aside??422
e.	Family Allowance??422
f.	Dower and Curtesy??422
3.	Rights of Surviving Spouse to a Share of Decedent?s Property??425
a.	The Elective Share and Its Rationale??425
Uniform Probate Code, Article II, Part 2, General 
Note: The Estate Tax Marital Deduction and the 
Dependency of Women??428
In re Estate of Cross??430
Notes and Questions??432
In re Estate of Cooper??433
Notes and Problem??437
b.	Property Subject to the Elective Share??438
(1) Judicial Responses??439
	Sullivan v. Burkin??439
	Bongaards v. Millen??442
	Notes and Problems??444
(2)	Statutory Schemes??445
(3)	The Uniform Probate Code??447
Notes, Problem, and Questions??450
Note: Must the Surviving Spouse Accept a Life Estate? ??
c.	Waiver??451
Uniform Probate Code ?2-213??452
In re Estate of Garbade??453
In re Grieff??454
4.	Rights of Surviving Spouse in Community Property??455
a.	Basic Information??455
b.	Putting the Survivor to an Election??457
5.	Migrating Couples and Multistate Property Holdings??458
a.	Moving from a Separate Property State to a Community 
Property State??459
b.	Moving from a Community Property State to a Separate 
Property State??460
6.	Spouse Omitted from Premarital Will??462
Estate of Shannon??462
Uniform Probate Code ?2-301??465
Questions and Notes??465
	Section B. Rights of Issue Omitted from the Will??466
1.	Protection from Intentional Omission??466
a.	The Domestic Approach??466
Questions and Notes??468
b.	A Look Abroad: Family Maintenance Statutes??468
Lambeff v. Farmers Co-operative Executors & Trustees 
Ltd. ??469
Notes and Problem??472
2.	Protection from Unintentional Omission??473
Azcunce v. Estate of Azcunce??474
Notes, Questions, and Problems??476
Uniform Probate Code ?2-302??479
Notes, Problems, and Questions??480
In re Estate of Laura??481
Estate of Treloar??483
Question and Note??484
Chapter 8. Trusts: Creation and Characteristics??485
 Section A. Introduction??485
1.	Background??485
Note: Foreign Trust Law??488
2.	The Parties to a Trust??489
a.	The Settlor??489
b.	The Trustee??490
Problem, Question, and Note??491
c.	The Beneficiaries??493
3.	A Trust Compared with a Legal Life Estate??494
Question and Note??496
4.	Commercial Uses of the Trust??496
Section B. Creation of a Trust??498
1.	Intent to Create a Trust??498
Lux v. Lux??498
Jimenez v. Lee??499
The Hebrew University Association v. Nye (1961) ??504
The Hebrew University Association v. Nye (1966) ??506
Notes and Question??508
2.	Necessity of Trust Property??508
Unthank v. Rippstein??509
Questions and Notes??510
Brainard v. Commissioner??511
				Speelman v. Pascal??512
				Notes, Problems, and Questions??515
				Note: Taxation of Grantor Trusts??516
3.	Necessity of Trust Beneficiaries??518
Clark v. Campbell??519
				Note and Questions??521
				In re Searight?s Estate??522
				Notes and Questions??524
4.	Necessity of a Written Instrument??528
a.	Oral Inter Vivos Trusts of Land??528
Hieble v. Hieble??528
Notes and Question??529
b.	Oral Trusts for Disposition at Death??530
Olliffe v. Wells??530
Notes and Problems??532
	Section C. Rights of the Beneficiaries to Distributions from the Trust??533
				Marsman v. Nasca??534
				Notes and Questions??539
				Note: Expanded Discretion??540
				Note: Exculpatory Clauses??541
				Note: Mandatory Arbitration Clauses??543
	Section D. Rights of the Beneficiary?s Creditors??543
1.	Discretionary Trusts??544
Uniform Trust Code ?504??546
Problem and Note??547
2.	Spendthrift Trusts??547
Scheffel v. Krueger??549
				Shelley v. Shelley??550
Uniform Trust Code ??502, 503??553
Notes and Questions??553
3.	Self-Settled Asset Protection Trusts??557
Federal Trade Commission v. Affordable Media, LLC??
In re Lawrence??566
Notes and Questions??566
Note: Trusts for the State-Supported??569
	Section E. Modification and Termination of Trusts??572
1.	Introduction??572
2.	Modification??574
In re Trust of Stuchell??574
Notes and Questions??575
Uniform Trust Code ?412??577
Questions and Note??578
Note: Reformation and Modification for Tax Advantages??
Note: Trust Protectors??579
3.	Termination??580
In re Estate of Brown??580
Notes and Questions??582
Note: Revocable Versus Irrevocable Trusts??584
4.	Trustee Removal??585
Uniform Trust Code ?706??586
Notes and Questions??587
Chapter 9. Building Flexibility into Trusts: Powers of Appointment??589
 Section A. Introduction??589
1.	Types of Powers??589
2.	Does the Appointive Property Belong to the Donor or the Donee? ??
Irwin Union Bank & Trust Co. v. Long??592
Notes and Questions??594
Note: Tax Considerations for Powers??595
	Section B. Creation of a Power of Appointment??598
1.	Intent to Create a Power??598
2.	Powers to Consume??598
Sterner v. Nelson??598
Notes and Questions??601
	Section C. Release of a Power of Appointment??602
				Seidel v. Werner??603
	Section D. Exercise of a Power of Appointment??607
1.	Exercise by Residuary Clause in Donee?s Will??607
Beals v. State Street Bank & Trust Co. ??607
Uniform Probate Code ??2-608, 2-704??613
Note and Problem??613
2.	Limitations on Exercise of a Special Power??614
3.	Fraud on a Special Power??615
4.	Ineffective Exercise of a Power??616
a.	Allocation of Assets??616
b.	Capture??617
Section E. Failure to Exercise a Power of Appointment??618
			Loring v. Marshall??618
			Problem and Note??621
Chapter 10. Construction of Trusts: Future Interests??623
	Section A. Introduction??623
	Section B. Classification of Future Interests??624
1.	Types of Future Interests??624
2.	Future Interests in the Transferor??624
a.	Reversion??624
b.	Possibility of Reverter; Right of Entry??625
3.	Future Interests in Transferees??626
a.	Remainders??626
b.	Executory Interests??628
Problems and Note??629
	Section C. Construction of Trust Instruments??630
1.	Preference for Vested Interests??630
a.	Acceleration into Possession??631
In re Estate of Gilbert??632
Note, Questions, and Problem??635
b.	Transferability??636
Problem and Notes??637
c.	Requiring Survival to Time of Possession??638
First National Bank of Bar Harbor v. Anthony??638
Notes, Questions, and Problem??639
Clobberie?s Case??642
Notes and Problem??642
Note: Uniform Probate Code ?2-707?A New System of 
Future Interests for Trusts??643
2.	Gifts to Classes??648
a.	Gifts of Income??649
Dewire v. Haveles??649
Problem and Note??652
b.	Gifts to Children, Issue, or Descendants??652
c.	Gifts to Heirs??655
Estate of Woodworth??655
Uniform Probate Code ?2-711??660
Note: The Doctrine of Worthier Title??660
Note: The Rule in Shelley?s Case??661
d.	The Class-Closing Rule??662
(1) Introduction??662
(2) Immediate gifts??663
Note: Class-Closing Rules and Posthumously Conceived 
(3) Postponed gifts??665
				Lux v. Lux??666
(4)	Gifts of specific sums??669
Chapter 11. Trust Duration and the Rule Against Perpetuities??671
	Section A. Introduction??671
1.	Development of the Rule Against Perpetuities??671
2.	Summary of the Rule??674
a. Introduction??674
 (1) The rule and its policies?674
 (2) Why lives in being are used to measure the period??675
 (3) The rule is a rule of proof??676
				Problems and Note??677
b. When the Lives in Being Are Ascertained??678
	Section B. The Requirement of No Possibility of Remote Vesting??678
1.	The Fertile Octogenarian??679
Problems, Questions, and Notes??679
2.	The Unborn Widow??681
Dickerson v. Union National Bank of Little Rock??681
Problems and Notes??684
3.	The Slothful Executor??685
4.	The Magic Gravel Pit and Other Marvels??686
Section C. Application of the Rule to Class Gifts??686
1.	The Basic Rule: All-or-Nothing??686
Question and Problems??688
2.	Exception to the Class Gift Rule??688
a. Gifts to Subclasses??688
American Security & Trust Co. v. Cramer??688
b. Specific Sum to Each Class Member??689
Section D. Application of the Rule to Powers of Appointment??690
1.	General Powers Presently Exercisable??690
a. Validity of Power??690
b. Validity of Exercise??690
2.	General Testamentary Powers and Special Powers??691
a. Validity of Power??691
b. Validity of Exercise??692
 (1) Perpetuities period runs from creation of power??692
 (2) The second-look doctrine??692
Second National Bank of New Haven v. Harris Trust & 
Savings Bank??693
	Notes and Questions??694
Note: The ?Delaware Tax Trap? or How the Donee Can 
Choose Between Paying an Estate Tax or a Generation-
Skipping Transfer Tax??694
	Section E. Saving Clauses??695
				Note: Attorney Liability for Violating the Rule??696
	Section F. Perpetuities Reform??697
1.	The Cy Pres or Reformation Doctrine??697
2.	The Wait-and-See Doctrine??698
a. Wait-and-See for the Common Law Perpetuities Period??699
b. The Uniform Statutory Rule Against Perpetuities??700
		Uniform Statutory Rule Against Perpetuities ??1-5??702
				In re Trust of Wold??704
				Notes and Questions??709
				Problems and Questions??711
3.	Abolition of the Rule Against Perpetuities??711
Dukeminier & Krier, The Rise of the Perpetual Trust??
Notes and Questions??719
	Section G. Other Durational Limits??723
1.	The Rule Against Suspension of the Power of Alienation??723
2.	The Rule Against Accumulations of Income??725
Chapter 12. Charitable Trusts??729
 Section A. Nature of Charitable Purposes??729
 			Shenandoah Valley National Bank v. Taylor??729
			Notes and Questions??734
			Note: Shaw?s Alphabet Trusts??737
Section B. Modification of Charitable Trusts: Cy Pres??737
			In re Neher??738
			Notes, Problem, and Questions??739
			Note: Discriminatory Trusts??742
			San Francisco Chronicle: The Buck Trust??743
			Philadelphia Story: The Barnes Foundation??746
 Question and Notes??750
	Section C. Supervision of Charitable Trusts??750
Carl J. Herzog Foundation, Inc. v. University of Bridgeport??
				Smithers v. St. Luke?s-Roosevelt Hospital Center??751
				Notes and Questions??759
				Hawaii Journal: The Bishop Estate??763
Chapter 13. Trust Administration: The Fiduciary Obligation??771
 Section A. Introduction??771
Langbein, The Contractarian Basis of the Law of Trusts??
 			Note: Agency Costs and the Fiduciary Obligation??774
 			Notes and Question??776
 			Note: Powers of the Trustee??777
	Section B. Duty of Loyalty??779
				Hartman v. Hartle??779
				In re Gleeson?s Will??780
				Notes and Questions??780
				In re Rothko??783
				Note: Co-Trustees??790
				Restatement (Second) of Trusts ?258??791
	Section C. The Duty of Prudence??791
1.	The History of Trust-Investment Law??792
Langbein & Posner, Market Funds and Trust-Investment 
Restatement (Third) of Trusts: Prudent Investor Rule??
				Note: The Constrained Prudent Man Rule??794
2.	Modern Trust-Investment Law??796
a.	Sensitivity to Risk and Return??797
Uniform Prudent Investor Act ?2??797
Estate of Collins??798
				Questions and Notes??802
				Note: ERISA??803
				Note: Social Investing??804
b.	Diversification??805
Uniform Prudent Investor Act ?3??805
Langbein, The Uniform Prudent Investor Act and the 
Future of Trusting Investing??805
	In re Estate of Janes??806
	Notes and Questions??812
	Note: Calculating Damages in Surcharge Cases??817
c.	Delegation??818
Shriners Hospitals for Crippled Children v. Gardiner??
Question and Note??820
Uniform Prudent Investor Act ?9??820
Notes and Questions??821
	D. Impartiality and the Principal and Income Problem??821
				Dennis v. Rhode Island Hospital Trust Co. ??821
				Notes and Questions??826
				Note: The Principal and Income Problem??827
	E. Subrules Relating to the Trust Property??830
1.	Duty to Collect and Protect Trust Property??830
2.	Duty to Earmark Trust Property??830
3.	Duty Not to Mingle Trust Funds with the Trustee?s Own??831
	F. Duty to Inform and Account to the Beneficiaries??832
				Fletcher v. Fletcher??832
				Uniform Trust Code ?813??836
				Notes and Questions??837
National Academy of Sciences v. Cambridge Trust Co. ??
				Notes and Problem??842
Chapter 14. Wealth Transfer Taxation: Tax Planning??845
 Section A. Introduction??845
1.	A Brief History of Federal Wealth Transfer Taxation??845
Note: Estate and Inheritance Taxes Distinguished??848
2.	The Unified Federal Estate and Gift Taxes??849
Unified Transfer Tax Rate Schedule??850
Question and Note??852
	Section B. The Federal Gift Tax??853
1.	The Nature of a Taxable Gift??853
Holtz?s Estate v. Commissioner??853
Notes and Problems??856
Note: Income Tax Basis??857
2.	The Annual Exclusion??857
Estate of Cristofani v. Commissioner??860
Notes and Problem??866
3.	Gifts Between Spouses and from One Spouse to a Third Person??
	Section C. The Federal Estate Tax??868
1.	A Thumbnail Sketch of the Federal Estate Tax??868
2.	The Gross Estate: Property Passing by Will or Intestacy??870
a.	Section 2033: Property Owned at Death??870
b.	Section 2034: Dower or Curtesy??871
3.	The Gross Estate: Nonprobate Property??872
a.	Section 2040: Joint Tenancy??872
(1)	Joint tenancy between persons other than husband and 
(2)	Joint tenancy and tenancy by the entirety between 
husband and wife??874
b.	Section 2039: Annuities and Employee Death Benefits??874
c.	Section 2042: Life Insurance??875
4.	The Gross Estate: Lifetime Transfers??876
a.	Section 2036: Transfers with Life Estate or Control of 
Beneficial Rights Retained??876
Estate of Maxwell v. Commissioner??877
Old Colony Trust Co. v. United States??883
Note and Question??886
Note: Family Limited Partnerships??886
b.	Section 2038: Revocable Transfers??887
c.	Section 2037: Transfers with Reversionary Interest Retained??
d.	Section 2035: Transfers Within Three Years of Death??889
5.	The Gross Estate: Powers of Appointment (?2041) ??891
Estate of Vissering v. Commissioner??894
Question and Note??896
Estate of Kurz v. Commissioner??897
6.	The Marital Deduction??900
a.	Introduction??900
b.	Interests That Qualify for the Deduction??901
(1)	The nondeductible terminable interest rule??901
(2)	Exceptions to the terminable interest rule??902
Estate of Rapp v. Commissioner??905
Pond v. Pond??912
				Note and Problems??914
(3)	Noncitizen spouses: qualified domestic trusts??915
c.	Tax Planning??915
7.	The Charitable Deduction??917
	Section D. The Generation-Skipping Transfer Tax??919
1.	The Nature of the Tax??919
2.	Rate and Base of Tax??922
3.	Exemption and Exclusions??923
4.	Definitions??924
a.	Transferor??925
b.	Skip Person; Ascertaining Generations??925
c.	Interest??926
5.	Tax Strategies??927
Section E. State Wealth Transfer Taxes??928
Table of Cases??929
Author Index??000

Library of Congress Subject Headings for this publication:

Wills -- United States -- Cases.
Estate planning -- United States -- Cases.
Future interests -- United States -- Cases.
Trusts and trustees -- United States -- Cases.