References in periodicals archive ?
However, in view of the widespread use of Totten trusts in the area of testamentary disposition, we do not feel free to adopt the Restatement rule without first giving the legislature an opportunity to provide for it by statute as was done in Pennsylvania.
Lawrence, (61) decedent established two Totten trusts in favor of his children from his first marriage.
In a case involving Totten trusts, the court determined that the question of whether they should be subject to the elective share should not be decided by "policy in light of general common law and equitable principles" but rather the question "is a question of statutory interpretation....
See also Kara Peischl Marcus, Comment, Totten Trusts: Pragmatic Pre-Death Planning or Postmortem Plunder?, 69 TEMP.
(89.) Marcus, supra note 19, at 867-68 (Totten trusts are more accessible than many forms, but still have a legally established formality).
A trust offers many advantages over outright gifts, custodian gifts to minors, and Totten Trusts. For probably that reason, the trust is the most frequently used device when a series of annual gifts is contemplated.