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Tuesday, August 2, 2011

Bequests, CY Pres, and a $500k Cap!

I just received the rest of my Public Information Request from the Attorney General's Office, and it is a page turner.  You have got to read this to believe it (especially the last page)!  But before you do, you'll need to know what these "legal" words mean: 
Okay, now you are ready to read the Public Information documents:                                  
CY Pres (as defined by http://definitions.uslegal.com/c/cy-pres-doctrine/)
The legal doctrine of Cy Pres is a French term meaning "as close as possible." When a gift is made by will or trust and it is no longer possible to follow the instructions of the donor, a judge, estate, or trustee may apply the Cy Pres doctrine to fulfill the donor's wishes as nearly as possible. It is usally applied in the case of a gift made for charitable or educational purposes when the named recipient of the gift does not exist, has dissolved or no longer conducts the activity for which the gift is made. In some cases, the Cy Pres doctrine is used court disputes in which a judge must determine the appropriate substitute to receive the gift.
WAO Public Info Requ - July 2011

So, what do you think? 

Who do you think will get monies left over from the sale of the Talley Road land once the creditors have been paid if a $500,000 cap is placed on Born Free?  I guess we'll have to wait to find out...

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