Karteikarten
cy pres power
Karten in diesem Stapel (3)
- 1cy pres powerThe court should find that Settlor had a general charitable intent. Therefore, the trust property should not be returned to Settlor’s estate. Instead, the court should exercise its cy pres power and order that the property be distributed to a charity that falls within the general charitable purposes expressed in the trust.
Although a settlor or the settlor’s estate is generally entitled to the return of any trust property that cannot be distributed in accordance with the terms of the trust, an exception applies to charitable trust dispositions that reflect a general charitable intention. See RESTATEMENT(SECOND) OF TRUSTS §§ 411, 413; RESTATEMENT (THIRD) OF TRUSTS § 8, cmt. g. In such a case, a court should exercise its cy pres power and direct distribution of the failed disposition to another charity - 2다른적용-At the end of the 10-year period, one-half of the trust principal should be distributed to Sam. The other half should be distributed, in all likelihood, to State Polytech in lieu of State University by application of the court’s cy pres power. The trust provides that, at the end of ten years, the trust principal shall be distributed equally to Sam and State University. Sam is entitled to half the principal at that time, subject to a possible $25,000 reduction to pay Claimant. (See Point Two.) The other half of the principal is payable to State University, but this gift cannot be paid because State University no longer exists. However, State University is a charity. It is a well-established principle of trust law that, when a charitable purpose cannot be carried out, the court should determine whether to exercise its cy pres power and redirect the charitable gift to another like charity.The cy pres doctrine requires an initial inquiry into the settlor’s intent: if the court determines that the settlor had a specific charitable intention limited to the stated charitable purpose, the gift goes to the residuary legatee, in this case Donna. However, if the court determines that the settlor had a general charitable intention, it should substitute for the named charity another charity that is consistent with the settlor’s intentions. Id. Both the UTC and Restatement (Third) of Trusts presume that a settlor has a general charitable intent.
- 3application이어짐-Given the presumption of general charitable intent, there is a strong argument that the court should exercise its cy pres power and substitute the fine arts program at State Polytech for that at State University. The will evidences a desire to benefit a fine arts program. It evidences no intention of limiting that benefit to the program at State University. Testator could not have known that State University would cease to exist after his death. The state legislature has already determined that State University’s fine arts program largely duplicates that at State Polytech. Substituting State Polytech for State University would maintain Testator’s commitment to the fine arts and public education in his state of residence.If the court does not apply the cy pres doctrine, the gift to charity fails and the share State University was intended to receive either passes wholly to Sam as the only remainder beneficiary or wholly to Donna, the residuary legatee under Testator’s will.
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- Will and Trust (Trust) Karteikarten am cy pres power , erstellt von Kawon Kim am 27/01/2017.
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- Kawon Kim
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