Charitable and Honorary Trusts Flashcards
1
Q
Charitable Trust Beneficiaries
A
Must be indefinite and may be perpetual.
cy pres doctrine applies
2
Q
Char Trust Purpose
A
considered a benefit to the public
3
Q
Indefiniteness
A
Can be a specific charity. but not the ultimate individuals who will benefit
4
Q
Enforcement of a Char trust
A
suit can be brought by settlor, qualified beneficiary, or states AG
5
Q
RAP
A
No rap problem with Char trusts
6
Q
Cy Pres
A
purpose selected is impracticable, the court will select an alternative as near as possible to the settlors selection
7
Q
Honorary Trust
A
benefit of pets or maintenance of burial places
8
Q
Trust for Care of Animals
A
valid if animal alive during settlors life. trust terminates when animal dies. No Rap
