The two most important days in your life are the day you are born and the day you find out why. Mark Twain

h/t Pastor Paul Kim
John 12:20-26 ESV
redeemersd.org

Leadership is the art of getting someone else to to something you want done because he wants to do it. Dwight D. Eisenhower

Peacemaking

“. . . In the Sermon on the Mount, Jesus tells us that all his disciples can be ‘peacemakers’ (Matthew 5:9). Peacemakers are people who, through making peace with God, have finally learned how to admit flaws and weakness, how to surrender their pride, how to love without the need to control every situation. These new skills have enormous power to defuse conflicts, to facilitate forgiveness and reconciliation between people. Christians should be fanning out into the world being peacemakers, agents of reconciliation among the races and classes, among the members of families, and between neighbor and neighbor.” Timothy Keller, Hidden Christmas: The Surprising Truth Behind the Birth of Christ, pp. 110-111 (2016) Viking.

“Example is not the main thing in influencing others. It is the only thing.”
Albert Schweitzer (1875 – 1965)

A Tribute to Justice Scalia

“The Constitution that I interpret and apply is not living but dead, or as I prefer to call it, enduring.” Antonin Scalia 1936-2016

from The Federalist Society.

The Cycle of the Gift: Family Wealth and Wisdom (Hoboken, New Jersey: John Wiley & Sons, Inc., 2013)

The Cycle of the Gift expends the template set up in James Hughes’ Family Wealth – Keeping it in the Family from the technique of family governance, planning, and giving to the philosophical, spiritual, and emotional aspects of giving and receiving. The Cycle of the Gift completes the cycle of estate-planning advice for affluent families that started in Family Wealth. I highly recommend both books.

Family Wealth–Keeping It in the Family: How Family Members and Their Advisers Preserve Human, Intellectual, and Financial Assets for Generations (New York: Bloomberg Press, 2004)

This revised and expanded second edition of James E. Hughes Jr’s. “Family Wealth – Keeping it in the Family” is a template for family governance, estate planning, and wealth preservation for affluent families seeking to maintain their human, intellectual, and financial capital beyond the proverbial third generation.  This is an important read for families who are in a position to benefit from its excellent and timeless advice.

STEP

ADVISING FAMILIES ACROSS GENERATIONS

I just completed the Inaugural STEP USA Conference that reminded me why I’m proud to be a STEP member.

Fraudulent Transfers or Voidable Transactions?

Here is a nice analysis of fraudulent transfer law by Jay Adkisson in light of the Uniform Voidable Transactions Act of 2014 (formerly the Uniform Fraudulent Transfer Act).

“The Uniform Voidable Transactions Act – What’s With The Name Change?”

(This article is the first in a series on the Uniform Voidable Transactions Act of 2014 (“UVTA”) , as found at  http://goo.gl/kS7MqZ  [PDF] and adopted by the Uniform Law Commission on July 16, 2014. [Jay Adkisson] was an American Bar Association Advisor to the Drafting Committee to this Act.)

Our modern law of fraudulent transfers can be traced to Roman Law. When the Byzantine Emperor Justinian I commanded that great compilation or Roman Law known as the Corpus Juris Civilis, or more commonly the Civil Code, the accompanying commentary known as the Institutes of Justinian gave a very detailed treatment of fraudulent transfer law which in substance is little changed from when those Institutes were published in the year 533 A.D.

In the Institutes, we are given the basic concept of a fraudulent transfer as a transfer by a debtor that is meant to defeat the creditors of the debtor. The standard remedy was that the transfer could be avoided by the creditor; that is, treated as if the transfer had never occurred at all, and the transferred asset was still owned by the creditor. However, if the creditor could not be satisfied by unwinding the transaction, then the creditor may obtain a money judgment against the transferee for the value of the asset that was transferred. If the transferee did not know the debtor had outstanding creditors, and the transferee paid equivalent value for the asset, then the transferee had a valid defense against the creditor’s action for the fraudulent transfer.

These are the basic concepts of Roman fraudulent transfer law, and are the basic concepts of American fraudulent transfer law as well. In fact, the Romans considered these issues in far more depth than I have just briefly described, such as in holding that if a debtor refused to accept an inheritance so that those assets would not go to his creditors (what we could today call a “disclaimer”), that was not a fraudulent transfer, as is now stated in the probate laws of most states.

It is widely presumed that the American law of fraudulent transfers derives in whole from English law, more particularly the Fraudulent Conveyances Act of 1571, sometimes referred to as the Statute of 13 Elizabeth. There is some truth to that, but only in part.

Continue reading  . . .