Does a parent's failure to properly account for a dividend received by their daughter under a trust that was never intended to be shared between them?
MultiRegion, United States of America
The following excerpt is from United States v. Cole, 90 F. Supp. 147 (S.D. Cal. 1950):
After all, as I said years ago in Nicholson v. United States, D.C., 1938, 25 F.Supp. 424, 426, it is not proper filial attitude to require strict accounting on the part of the parent who has made one the beneficiary of a trust. And the mere appearance on the bank account of the parent of a sum which is the equivalent of a dividend received by the daughter does not warrant an inference of absence of ownership in the latter.
"The most advanced legal research software ever built."
The above passage should not be considered legal advice. Reliable answers to complex legal questions require comprehensive research memos. To learn more visit www.alexi.com.
Other Questions
When a beneficiary of a trust receives dividends from the trust, does the beneficiary have to pay tax on the net income of the trust? ("New York", United States of America)
How have the Trusts in a trust action been interpreted in the context of an employer's failure to properly calculate and timely payments? (MultiRegion, United States of America)
Does the resale of flow-through shares and of the other shares issued by the same corporations constitute an operating motivation for the purchase and sale of the flow through shares? (Canada (Federal), Canada)
Does section 117 of the New York State Constitution require termination of an open adoption where the biological parent, having consented to the adoption, has agreed to retain parental rights and to raise the child together with the second parent? ("New York", United States of America)
Does receiving property as a result of a breach of trust constitute a gift? (MultiRegion, United States of America)
Does the failure to administer the proper voir dire oath to the venire invalidate the entire trial? (MultiRegion, United States of America)
Can a defendant who abused his position of trust receive a reduced sentence under Section 3B1.3 of the Criminal Code? (MultiRegion, United States of America)
What is the role of a second jury in the trial of an accountant who falsified an accountant's financial statement? (MultiRegion, United States of America)
What is the test for establishing that a trust fund has been established for the purpose of augmenting the property passing to a receiver? (MultiRegion, United States of America)
Can a failure to comply with a government regulation be a defense to a subsequent failure to submit to induction? (MultiRegion, United States of America)
