91 year ago a farmer established a charitable trust with $100,00.00 dollars to build an orphanange. What is that $100,000.00 worth today and how is it used since an local orphange is no longer needed. This article examines some good and bad news about trusts and how they work when the purpose for which they were established is no longer appropriate. In such cases, court apply the doctrine of cy pres to help them to apply the trusts for an alternative purpose that would have been acceptable to the person creating the charitable trust. Click here for more on how trusts can grow through time and how courts deal with changing charible needs.
For more information on the use of trusts, charitable trusts, and revocable and irrevocable trusts in Pennsylvania contact David M Frees III with law offices in Malvern, Phoenixville, and West Chester Pennsylvania.