Quote Originally Posted by David Merrill View Post
The new trust (New Deal) opened the door to the formation of a new style of CONSTRUCTIVE TRUST.


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The new deal and a UPPER case style Probate assets are any assets that are owned solely by the decedent. a non probate insurance policy does not need to be disclosed during probate. Is my SS# ever disclosed Courts of equity have already acquired such an extent of jurisdiction, as to obscure in a great measure courts of law. till first a clear idea be formed of the difference between a court of law and a court of equity. But if a court of equity be governed by rules, why are not these brought to light in a fair system? One would imagine, that such a fair system should not be useful only, but necessary; and yet writers, far from aiming at a fair system, have not even defined with any accuracy what equity is, nor what are its limits and extent. One operation of equity, universally acknowledged, is, to remedy imperfections in the common law, which sometimes is defective, and sometimes exceeds just bounds; and as equity is constantly opposed to common law, a just idea of the latter fairness may probably lead to the former. In order to ascertain what is meant by common law, a historical deduction is necessary; After states were formed and government established, courts of law were invented to compel individuals to do their duty. This innovation, as commonly happens, was at first confined within narrow bounds FAIRNESS . To these courts power was given to enforce duties essential to the existence of society; Thus equity, in its proper sense, comprehends every matter of law that by the common law is left without remedy; and supposing the boundaries of the common law to be ascertained, there can no longer remain any difficulty about the powers of a court of equity. it will be discovered, that the connections regarded by a court of equity seldom arise from personal circumstances, such as birth, resemblance of condition, or even blood, but generally from subjects that in common language are denominated goods those financial instruments, including currency notes and coins, as well as bonds and other fixed-income . But for the security of individuals in society, it is not sufficient that a man himself be prohibited from doing mischief: he ought over and above to be careful and vigilant, that persons, animals, and things, under his power, do no mischief;Is a persona mischievous in equity only.