The cy pres doctrine is a legal doctrine that allows a court to modify the terms of a trust or will if the original purpose of the trust or will becomes impossible or impracticable to achieve. The doctrine is derived from the French phrase "cy pres comme possible," which means "as near as possible." The cy pres doctrine is used to ensure that the original intent of the trust or will is carried out as closely as possible, even if the original purpose can no longer be achieved.
Who may create trust?
A trust is an arrangement in which one person, called a trustee, holds legal title to property for another person, called a beneficiary.
The grantor is the person who creates the trust, and the trustee is the person who manages the trust. The trustee has a fiduciary duty to the beneficiaries of the trust.
The grantor may be the trustee, but it is not required. The trustee may be an individual, a corporation, or a trust company. What is doctrine of cy pres under CPC? The cy pres doctrine is a legal doctrine that allows a court to modify the terms of a trust or will if the original purpose of the trust or will is no longer possible or practicable to carry out. The cy pres doctrine is derived from the French phrase "cy pres comme possible," which means "as near as possible." Does cy pres apply to wills? Yes, cy pres applies to wills. If a provision in a will cannot be given effect because it would be contrary to public policy, a court may apply the cy pres doctrine to reform the provision to the extent necessary to give it effect.
What is the equitable deviation doctrine?
The equitable deviation doctrine is a legal principle that allows a court to deviate from the terms of a will or trust when it would be inequitable to follow those terms. This can happen when the terms of the will or trust would result in an unfair outcome, or when following the terms would go against public policy. For example, the doctrine has been used to award a larger share of an estate to a spouse who was not adequately provided for in the will, or to prevent a person from inheriting property that was obtained through fraud.
Can you extend the life of a trust?
It is possible to extend the life of a trust, but it depends on the terms of the trust agreement. If the trust agreement does not specify a duration for the trust, then the trust can last indefinitely. However, if the trust agreement does specify a duration for the trust, then the trust can only be extended if all of the beneficiaries agree to the extension.