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Some who endorse the absence of intent theory have argued that the doctrine of resulting trusts provides a coherent basis for proprietary restitution.
The "magic" occurs because, under a strict application of [section]2013, some of the surviving spouse's interests in the resulting trusts created under the first to die's estate plan--which are not includible in his or her gross estate (3)--actually generate the TPT credit.
as it departs from traditional resulting trusts principles (such as the
Geared toward the study of English law in a Bachelor of Laws (LLB), postgraduate, or conversion course, this work contains 13 chapters discussing equity and trusts, the creation of express private trusts, purpose trusts, constitution of trusts, secret trusts, protective and discretionary Trusts, Resulting Trusts and Constructive Trusts, Charitable trusts, the nature of trusteeship, the duties of the trustees, the power of trustees, variation of trusts, breach of trust and remedies.
In analyzing the classification process at the private international law level, the author attempts to address all of the major domestic law proprietary restitutionary claims such as claims to traceable proceeds, proprietary claims to the profits of wrongdoing, resulting trusts, constructive trusts arising in mistaken transfers and remedial constructive trusts.
2642(a)(3).13 A trustee may make a qualified severance of a trust at any time, and the resulting trusts are treated as separate trusts for GST tax purposes.
Regulations provide that, with respect to a qualified severance of a trust with an inclusion ratio greater than zero and less than one, one or more resulting trusts must be funded with an amount equal to the GST applicable fraction (used to determine the GST inclusion ratio for the original trust immediately before the severance) times the value of the original trust on the date of severance.
The distinction between resulting trusts and constructive trusts appears to be waning, and courts are simply declaring a trust to be in existence.
The Supreme Court of California found that "courts should enforce express contracts between nonmarital partners, [and] [i]n the absence of an express contract, the courts should inquire into the conduct of the parties to determine whether that conduct demonstrates an implied contract, agreement of partnership or joint venture, or some other understanding between the parties." (18) The court also suggested the use of constructive or resulting trusts, quantum meruit, and "additional equitable remedies to protect the expectations of parties to a nonmarital relationship in cases in which existing remedies prove inadequate." (19)
The pot provision will then divide the assets into shares for the descendants and direct the disposition to the resulting trusts. For example, suppose that [section]2.5 of the particular revocable trust is the residuary clause, and provides as follows:
Traditionally, the leading authority on resulting trusts in Australia has been Calverley v Green.
2642(a)(3), enacted as part of the generation-skipping transfer tax (GSTT) provisions of EGTRRA, provides rules for severing a trust into two or more trusts so that the resulting trusts will be recognized as separate trusts for GSTT purposes.