Charitable Trusts

Question 1

Is a CT subject to RAP?

Answer 1

No

Question 2

A CT must be for a ____ ____

Answer 2

Charitable Purpose

Question 3

When a specific charitable purpose can no longer be accomplished, what will the court do?

Answer 3

Apply doctrine of cy pres (as near as possible) and reform the purpose.

Question 4

CT to research polio. 20 years later, Polio is cured. Trustee petitions the court – what should it do with the income and principal?

Answer 4

Terminate and distribute corpus to heirs. If it was a general disease research trust then no, but this was specific and the purpose no longer exists.