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In 1919, Michigan lumber baron Wellington R. Burt died, leaving a will that specified that apart from small allowances, his estate was not to be distributed until 21 years after the death of the last of his grandchildren to be born in his lifetime. This condition was met in 2010, 21 years after his granddaughter Marion Landsill died in November ...
Intestacy has a limited application in those jurisdictions that follow civil law or Roman law because the concept of a will is itself less important; the doctrine of forced heirship automatically gives a deceased person's next-of-kin title to a large part (forced estate) of the estate's property by operation of law, beyond the power of the deceased person to defeat or exceed by testamentary gift.
The U.S. generation-skipping transfer tax (a.k.a. "GST tax") imposes a tax on both outright gifts and transfers in trust to or for the benefit of unrelated persons who are more than 37.5 years younger than the donor or to related persons more than one generation younger than the donor, such as grandchildren. [1]
Neighborhood Transformation Center: $17,500 for a “Grandparents Raising Grandchildren” program and for safety repairs to the building entry. The Senior Center/Chemung County Family Fitness ...
Oct. 19—PLAINS TWP. — Rep. Eddie Day Pashinski (D, D-121) on Friday said his support for the Grandparents Raising Grandchildren program began when three grandparents told him their stories.
Grandparents often want to contribute to their grandchildren's futures in the form of money toward college savings, such as contributing to a 529 plan (an education investment account allows for...