Wills, Estates, and Trusts: A Manual of Law, Accounting, and Procedure, for Executors, Administrators, and Trustees, Volumen1

Thomas Conyngton, Harold C. Knapp, Paul Whittier Pinkerton

Ronald Press Company, 1921 - 825 páginas

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CHAPTER	3

DESCENT AND DISTRIBUTION	10

Public Administrator	18

COMMON MISTAKES IN MAKING WILLS	40

Making Requests That Bind Legatees	44

Making a Will When Mind and Body Are	45

Making Will an Expression of Vindictiveness	46

Making No Provisions for Deaths and Births	47

Trust Companies and Counsel	203

In Event of Litigation	204

The Lawyers Fees	205

192	207

COMPENSATION OF THOSE WHO SETTLE ESTATES 193 Introduction	209

Compensation of Personal Representatives 195 Compensation Fixed by Testator	210

Commissions Fixed by Statute	211

Compensation for Counsel	213

Leaving Estate in Bad Shape	48

Sundry Mistakes	49

PROBATING A WILL 35 The Probate Court	52

Where a Will Is Probated	53

Who May Probate a Will	54

How a Will Is Probated	55

Who Are Cited to Attend the Probate	56

Examination of Witnesses	58

Proving a Lost Will	59

Issuance of Letters Testamentary PAGE	60

CONTESTING A WILL 62 843 Difficulty of Breaking a Will	62

Grounds of Contest 45 Mental Weakness	64

Insanity of Testator 47 Causes of Rejection	66

CHAPTER IX WHEN AN ADMINISTRATOR IS APPOINTED 68 Appointment of Administrator	68

The Question of Jurisdiction	69

How Contest Is Initiated 49 Who May Contest a Probate 50 Who May Defend a Will	70

Compromising	71

Administration by a Corporation	72

VOLUNTARY TRUSTS 52 Property in Trust	73

Title to Trust Property	74

The Trustees Duty	75

The Beneficiarys Rights 56 The Object of Creating a Voluntary Trust 57 The Declaration of Trust	77

Transfer of Income on Contingency 59 Termination of Trust Estate	80

Part IIThe Settlement of Estates By Thomas Conyngton	83

APPOINTMENT OF EXECUTOR 860 The Executors Authority	85

Necessary Qualifications of an Executor	86

Positive Disqualifications for Executorship 63 Alternate or Successive Executors	87

CoExecutors	88

Acceptance or Refusal	89

Giving Bond 67 Granting of Letters Testamentary	90

73	97

Giving Bond 77 Issuing Letters of Administration 78 Settlement Without Administration	98

SPECIAL FORMS OF ADMINISTRATION 79 Administrator with the Will Annexed	101

Ancillary Administration	102

Administrator of Goods Not Already Admin istered	103

Temporary Administrations 83 Administration During Minority Durante Minore Aetate 84 Administration During Absence Durante Ab sentia 85 Ad...	104

Administrator ad Litem 87 Administration ad Colligendum	106

Termination of Temporary Administration	107

TAKING POSSESSION OF THE ASSETS 889 The Title to the Assets	108

Time When Title Vests in Representative 91 The Title of the Personal Representative Is Paramount	109

All Personal Property Is to Be Taken Over 93 Right of Representative to Search for Assets	110

Enumeration of Property to Be Taken Over	111

All Claims Must Be Collected	112

CARING FOR ESTATE FUNDS 896 Bank Deposits	114

Investment of Money	116

Disposing of Unauthorized Investments	117

Authority to Retain or to Change Investments 100 General Rules	119

IOI Business Ventures	120

MAKING AN INVENTORY 102 Objects of Taking Inventory	122

How an Inventory Is Made ΙΟΙ	123

Time for Filing	124

How Far Inventory Is Conclusive	125

108	126

Method of Presenting Claims	127

Charges upon Estate Prior to Prefe red Claims III Preferred Claims	128

Invalid or Doubtful Claims	131

114	132

SELLING PERSONAL PROPERTY 115 The Need for Cash 116 The Power to Sell	135

What to Sell First	136

How to Sell Goods and Chattels	137

Selling Securities 126 135 120 Consultation with Beneficiaries	138

Disposing of a Going Business	139

122	140

SELLING REAL ESTATE 143 123 The Usual Course as to Real Estate 124 Paying Debts from Personal Estate	143

Selling Real Estate to Pay Debts	144

Selling Real Estate under Will	145

Existing Contracts Relating to Realty	146

PAYING AND DELIVERING LEGACIES 128 Definitions	149

General Legacies 130 Specific Legacies 131 Residuary Legacies	150

Conditional Legacies	151

Vested Legacies	152

Bequests Void for Uncertainty or Perpetuity 135 When a Legacy Is Payable	153

To Whom Should a Legacy Be Paid 137 Delivery or Payment of Legacy	154

Abatement of Legacies to Pay Claims 139 Refunding Legacies	155

Residuary Legatees	156

GUARDIANS FOR MINORS 141 Definitions	158

Guardianship in Socage	159

Appointment of Guardian	160

Rights and Responsibilities of Guardians	162

The Guardians Care of Property	163

Termination of the Guardianship	164

PARTNERSHIPS AND PARTNERSHIP PROPERTY 149 Partnerships and Corporations 150 Effect of Death upon a Partners Interest	166

Executors Risk in Business 152 Inventory and Appraisement	167

Sale of Partnership Interest 154 Settlement of Business by Surviving Partner	169

Existing Contracts	170

Sale of Assets 157 Disposition of GoodWill	171

Paying Debts 159 Dividing Surplus	172

Provisions for Death in Articles	173

RENUNCIATION REVOCATION AND RESIGNATION	176

Revocation 165 Revocation by Testator 166 Procedure for Removing Representative	178

Revocation by Probate Court	179

Resignation	180

Procedure for Resignation	181

TESTAMENTARY TRUSTEES 183 170 Trusts	183

Trustees 172 Testamentary Trustees 173 Executors Who Are Trustees	186

Trustees Bond and Oath	187

Resignation or Removal of Trustees	188

Filling Vacancies	189

DUTIES OF TESTAMENTARY TRUSTEES 177 Care of Funds 178 Rules as to Investments	192

The Management of Property	194

Relations to Beneficiaries 181 Statutory Requirements	196

Carrying on a Business 183 Keeping Accounts	197

Compensation	198

EMPLOYMENT OF COUNSEL 185 The Usual Course	201

The Executors Counsel 187 Rules as to Employment of Counsel	202

ACCOUNTING 198 Objects of Accounting 199 Form of Records	215

The Probate Courts Supervision	217

Settlement out of Court	218

Settlement in Court 203 Conclusiveness of Final Settlement	219

Part IIITaxes	221

PAYING TAXES DUE 204 Taxes Due a Preferred Claim 205 Taxes on Personalty	223

When Taxes on Realty Are Paid from Per sonalty	224

Taxes on Realty Are Not Apportioned	225

Payment of Income Taxes to Date of Death	226

FEDERAL INCOME TAXES ON FIDUCIARIES 209 Income Taxes Pending Distribution and Final Return 210 The Duties of a Trustee as to Incom...	228

Returns of Income Rarely Correct	229

Advantage of Expert Assistance 213 Administration of the	230

Law as to Fiduciaries	231

Returns for Estate	232

Return Where There Are Two Trusts 217 Returns Must Indicate Each Beneficiarys Share 218 Personal Liability of Fiduciary PAGE 201	233

CHAPTER XXVIII FEDERAL INCOME TAXRULES FOR FIDUCIARIES 219 When Tax Runs Against Fiduciary 220 When Tax Runs Against Ben...	235

Estates and Trusts Which Cannot Be Treated as a Unit	236

Voluntary Trusts	237

223	238

Gross Income Defined	239

Normal Tax Credits	240

Deductions Allowed in Determining Net In come	241

Deductions for Losses	242

Computation of Tax 230 Certain Penalties Not Applicable 231 Exemption Allowed Surviving Husband or Wife	243

Returns of Information 233 Fiduciaries as Withholding Agents	244

State Income Tax Laws 235 Bibliography	245

PECULIAR FEATURES OF INHERITANCE TAXATION 236 Inheritance Taxation in the United States 237 The Theory of Inheritance Taxes	248

Inheritance Taxes Are Constitutional	250

The Federal Transfer Tax 240 What Transfers Are Subject to the Inherit ance	251

Double Taxation 242 Rates of State Taxation	252

PROPERTY AFFECTED BY TRANSFER TAXES 243 Comprehensiveness of Transfer Taxes	255

Situs of Property	256

Rule as to Real Estate	257

Personal PropertyTangible 247 Personal PropertyIntangible	258

Rule as to Life Insurance	259

Dower and Curtesy 250 Property Held Jointly or by Tenants in the Entirety	260

Transfers by Decedent in His Lifetime	262

Property Passed Under Power of Appointment	263

MATTERS OF PROCEDURE 253 Domicile	267

Jurisdiction	269

Ascertaining Values for Taxation 257 Assessment of Tax 255	270

Appeals from Assessment	271

Payment of State Tax 260 Payment of Tax on Land Values	272

Payment of Tax on Legacies 262 Responsibility for Payment of Inheritance Taxes	273

Special Cases	274

DEDUCTIONS AND EXEMPTIONS 264 Deductions	276

Usual State Exemptions	279

XXXVIII	280

INVENTORIES 272 Importance of Inventory	281

The Inventory the Basis of Accounts 274 Time of Filing Inventory	282

Inclusion of Real Estate 276 Inclusion of Accruals	284

Assets of No Value or Doubtful Title	285

Articles Reserved for Decedents Dependents 279 Summary of Inclusions 280 Forms of Inventory	286

Schedules	287

Amount of Description Required	288

Certificate	289

APPRAISEMENT 284 Authority of the Federal Regulations 285 Who Makes the Appraisement	291

Appraisement of Official Appraisers 287 Qualifications of Appraisers	293

Notice of Appraisal 289 Procedure at Appraisals	294

Ascertaining ValuesGeneral Rules	295

Ascertaining the Value of Real Estate 292 Ascertaining the Value of Stocks and Bonds	296

The Value of GoodWill	297

Valuing Partnership Interests	300

The Value of Growing Crops 296 Notes and Accounts Receivable Claims Judg ments	301

Cash on Hand or on Deposit 298 Valuing Household and Personal Effects	302

Appraising Patents TradeMarks and Copy	304

Valuing Other Property 302 Report of Appraisers	305

CORPUS AND INCOME 303 Corpus and Income Defined 304 The Distinction Between Principal and Incre ment	307

Administration of Trust Dependent on a Will 306 Possibilities of Complication	308

The Status of Interest Accrued at Time of Death	309

The Status of Cash Dividends	311

Stock Dividends	312

Setting up Accruals on Books	313

rights	314

Distinguishing Between Corpus and Income	315

Discharging a Mortgage	316

Balancing Equities 315 Taxable Income Not Synonymous with Trust Estate Income	317

Proceeds of Insurance Policies 317 Live Stock and Crops	318

Miscellaneous Assets 319 Effect of Federal Tax Laws	319

ESTate for Life oR FOR YEARSRemainders and ANNUITIES 320 Use of Terms	321

How Values Are Calculated 323 Using Mortality Tables	323

Case of an Annuity	326

Hypothetical Annuities	327

Value of Remainders	328

FEDERAL ESTATE TAX 8327 Nature of the	330

Exempt Estates 329 Estates of NonResidents Taxed	331

Transfers That Are Taxable 331 Life Tenancies and Remainders	332

PAGE	333

Transfers by Decedent in His Lifetime 334 Taxable Insurance	335

Location of Property as Affecting Inclusion 336 Property Held Jointly or as Tenants in the Entirety	336

Payment of	337

Responsibility for Payment	338

339 The Net Estate	340

Funeral and Administration Expenses	341

Claims Against the Estate	343

Unpaid Mortgages 343 Losses from Casualty or Theft	344

Support of Decedents Dependents 345 Public and SemiPublic Bequests	345

Property Previously Taxed 347 Specific Exemptions	346

Deductions Allowed NonResident Decedents	347

PROCEDURE UNDER FEDERAL LAW 349 Filing Papers for Federal Tax 350 The SixtyDay Notice	350

Filing the Federal Return	351

Nature of Return	352

Extension of Time for Filing Return 354 Computation of	353

Penalties	354

Otras ediciones - Ver todas

Wills, Estates, and Trusts: A Manual of Law, Accounting, and ..., Volumen1
Thomas Conyngton,Harold C. Knapp,Paul Whittier Pinkerton
Vista completa - 1921

Wills, Estates, and Trusts: A Manual of Law, Accounting, and ..., Volumen1
Thomas Conyngton,Harold C Knapp,Paul Whittier Pinkerton
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Información bibliográfica

Título	Wills, Estates, and Trusts: A Manual of Law, Accounting, and Procedure, for Executors, Administrators, and Trustees, Volumen1 The Finney collection Wills, Estates, and Trusts: A Manual of Law, Accounting, and Procedure, for Executors, Administrators, and Trustees, Paul Whittier Pinkerton
Autores	Thomas Conyngton, Harold C. Knapp, Paul Whittier Pinkerton
Editor	Ronald Press Company, 1921
Procedencia del original	Biblioteca Pública de Nueva York
Digitalizado	8 Oct. 2008
Largo	825 páginas

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