Modification of Charitable Trusts—The Cy Pres Doctrine Self-Quiz
Zackary was
a sports enthusiast. In high school, he played on the school’s baseball
team. To promote his interest, Zachary established a trust to specifically
support the efforts of his former high school’s baseball team. Due
to budget cuts, five years after the trust was established (and two years
after Zachary’s death), the school eliminated the baseball team.
Another high school on the other side of town still had an active baseball
team. The court would:
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Clifford was
a resident of Marin County (the most affluent county in the San Francisco
Bay Area), CA when he died. The trust he established directed that his
assets be used to provide care for the needy in Marin County, in addition
to other nonprofit charitable, religious or educational purposes in that
county. A windfall was bestowed on the trust, causing its assets to mushroom
to $300 million (from $9 million). Other counties petitioned the court
to be able to tap into the surplus funds. The court would:
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