TRUSTS - CY PRES DOCTRINE -APPLICATION TO CHARITABLE TRUSTS - ACCUMULATIONS

Authors

Abstract

A bequeathed the residue of her estate to the Trustees of Bowdoin College in trust to apply two-thirds of the annual income to the purposes of the Medical School of Maine and to accumulate the other one-third with another fund left by A for the same purpose until the whole should reach $50,000, when all should be applied for the purposes of the Medical School of Maine. The Medical School ceased to function, and the trustees applied to the court for instructions. Held, that there was a general charitable intent, indicated by the use of the word "purposes," and that the cy pres doctrine will keep the fund from reverting to the heirs. And since one clear intention of the testatrix was to allow the fund to accumulate, the court directed all of the residue to be accumulated until such time as the fund should reach $50,000, when the trustees should apply to the court for disposition, with leave to modify the decree if circumstances should offer a better way to effectuate the purposes of the testatrix. Snow v. President and Trustees of Bowdoin College, (Maine 1934) 175 A. 268.

Recommended Citation

TRUSTS - CY PRES DOCTRINE -APPLICATION TO CHARITABLE TRUSTS - ACCUMULATIONS, 34 Mich. L. Rev. 142 (1935).
Available at: https://repository.law.umich.edu/mlr/vol34/iss1/25