Collateral Heir

• Collateral Heir

A successor to property—either by will or descent and distribution—who is not directly descended from the deceased but comes from...

• West's Encyclopedia of American Law
• Be

• Some Obstacles to Transferring Assets to Family

The top hindrance, she said, is financing issues. For businesses that have taken out bank loans, "there's an inability to transfer right now from a practical perspective, because if you make the transfer, your bank will not continue to finance you," she said. That's because that heir is an unknown entity, and won't have same collateral that the older generation did to personally guarantee a loan. [...] the Internal Revenue Service "very frequently challenges large gifts where there is tax due," said Barry Frank, a partner at law firm Archer & Greiner P.C. In some cases, the agency will "be able to overturn some of these gifts, because people have not followed all of the formalities," he said.

• NJBIZ
• April 20, 2010

• Bernard, Maynard and Florine v. Acting Great Plains Regional Director, 46 IBIA 28 (2007)

... of Indian blood, lineal descendant, or collateral heir. did not do so, the gift deed to Renville is ...

• Interior Board of Indian Appeals

• Penalty Clauses in Testaments: What Louisiana Can Learn from the Common Law

Introduction. II. Background. A. Roman Law: The Birth of the Modern Civil Law Approach. B. French Law: Focus on the Underlying Disposition. III. Louisiana's Approach And Its Problems. A. Determining Whether the Suit Is a Contest. B. Ascertaining the Testator's Intent. C. Exceptions to the Rule of Validity. D. The Effect of Invalidating the Penalty Clause. E. The Problem of Validity and Enforceability. F. The Confusion of Louisiana's Approach and the Need to Find a Solution. IV. Common Law Approach And History. A. British Common Law: The Emergence of the Good Faith, Probable Cause Exception. B. The American Common Law History. C. The American Common Law Today. V. Solution For Louisiana: A Framework For Analysis Of Penalty Clauses. A. Step One: Determining Whether the Lawsuit Is a Cont...

..., the clauses inflict fear not only upon the heirs but, as will be demonstrated, upon legal practitio... legatee, and yet was technically a collateral heir. 91 The Crippled Children's Hospital interv...

• Louisiana Law Review
• Nbr. 70-4, July 2010

• 25 USC 2216 - Sec. 2216. Trust and restricted land transactions

... of Indian blood, lineal descendant, or collateral heir. (2) Limitation For a period of 5 years after...

• US Code - Title 25: Indians

• Estate and gift taxes: Generation-skipping transfer tax; predeceased parent rule,

... rule does not apply to transfers to collateral heirs if, at the time of the transfer, ``the trans...

• FR, July 18, 2005
• Rules
• Internal Revenue Service

• Neves v. Scott, 50 U.S. 196, 9 How. 196 (1850)

... death the estate to be divided between the heirs of the said Catharine and the heirs of the said Jo... any claim which had vested in the collateral heir as such. For example, where by the articles t...

• U.S. Supreme Court

• Inglis v. Trustees of Sailor's Snug Harbour in City of New York, 28 U.S. 99, 3 Pet. 99 (1830)

... generalogy of the demandant as next collateral heir of Robert R. Randall on the part of his mothe...

• U.S. Supreme Court

• Bates v. Brown, 72 U.S. 710, 5 Wall. 710 (1866)

...Wolcott and Mary Ann Wolcott, their heirs and assigns forever.' . 3. Mary Ann Wolcott, the ... of kin, in equal degree; and among collaterals the children of a deceased brother or sister of th...

• U.S. Supreme Court

• Intestate succession and heir property: implications for future research on the persistence of poverty in central Appalachia.

... trust each other, can not be used as collateral for a loan, and cannot be used as a share against ...

• Journal of Economic Issues
• Vol. 41 Nbr. 4, December 2007