ERISA premption and revocation upon divorce state laws (UPC 2-804(h)(2))

June 13, 2016 § Leave a comment

http://repository.law.umich.edu/cgi/viewcontent.cgi?article=1202&context=law_econ_current

The Creeping Federalization of Wealth-Transfer Law
Lawrence W. Waggoner*
This paper surveys areas of federalization of wealth-transfer law. Federal authorities have little experience in making law that governs wealth transfers, because that function is traditionally within the province of state law. Although state wealth-transfer law has undergone significant modernization over the last few decades, all three branches of the federal government—legislative, judicial, and executive—have increasingly gone their own way. Lack of experience, and in many cases lack of knowledge, have not been a deterrent, and the results have been mostly disturbing.
The paper covers these topics: federal preemption of several areas of state law, the development of federal common law as a sometime substitute for state law, the federal tax exemption for perpetual trusts, and the right of posthumously conceived children of assisted reproduction to Social Security survivor benefits.
INTRODUCTION……………………………………… 2
I. FEDERAL PREEMPTION OF STATE DIVORCE-REVOCATION LAWS. . .3
II. FEDERAL PREEMPTION OF STATE ELECTIVE-SHARE LAWS. . . . . . . .7
III. FEDERAL PREEMPTION OF STATE LAWS REGARDING
INITIALVALIDITYOFBENEFICIARYDESIGNATIONS………… 10 A. Lack of Mental Capacity.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 B. Undue Influence. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 C. Substantial Compliance for Defective Execution . . . . . . . . . . . 12
IV. THE ROLES OF FEDERAL PREEMPTION AND FEDERALCOMMONLAW…………………………… 13
V. FEDERAL PREEMPTION OF STATE WILL-EXECUTION FORMALITIES FORMILITARYWILLS. ……………………………. 15
VI. PROMOTINGPERPETUALTRUSTS……………………… 19
VII. SOCIAL SECURITY SURVIVOR BENEFITS FOR CHILDRENOFASSISTEDREPRODUCTION………………… 21
SUMMARYANDCONCLUSION…………………………… 24

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