Charitable Trusts

Question 1

statute of liz

Answer 1

trusts for educaiton, alleviation of povery tor sickenss are fine

can be any trust which confers substantial benefit upon society (even religion)

Question 2

creation

Answer 2

1. manifestion of intent - can be done by will at death or during settlor’s lifeetime by declaration of trust or by transfer oin trust of a presnly existin ginterest in property for legal charitable purpose

Question 3

benefiicary

Answer 3

big group. just be careful if it’s like poor relatives, that’t s a priveate express trust

Question 4

RAP

Answer 4

applies to private express trusts but not charitable trusts

Question 5

cy pres

Answer 5

fi trust can’t carry out purpose 2 solutions

1. resulting trust - return corpus to settlor if alive and if not to estate (goes to residuary devisees first, if any, and last to intestate taskers).
2. cy pres

cy pres - as nearly as possible - modify the trust as nearly as possible to settlor’s intent

NOTE - must be a generla trust to use cy pres. if specific charitable trust then you can’t use cy pres. can use parol evidence to rpove

e.g.