A perpetual charitable trust will not be modified to allow distributions of principal to one of the income beneficiaries when the trust document does not allow distributions of principal, notwithstanding the economic hardship and possible insolvency of the charitable beneficiary. … Continue reading
Tag Archives: Cy pres
When a hospital becomes part of a larger health care organization, but continues to operate as separate organization at the same location serving the same community, the cy pres doctrine should not be applied to require a pour-over trust and … Continue reading
Distributions from charitable trust to Green Tree Community Health Foundation approved as successor or substitute for Chestnut Hill Hospital. Geschick Trust, 5 Fid.Rep.3d 203, No. 1321 ST 1965 (O.C. Phila. 2011). … Continue reading
Charitably incorporated fire department was removed from emergency service for a township, which was the charitable purpose under its charter; court revoked charter and applied cy pres to find appropriate beneficiary. Guyasuta Volunteer Fire Department, 3 Fiduc. Rep. 3d 110 … Continue reading