The administration of an estate brings with it issues related to the distribution of assets, construction of a dispositive instrument, and the exercise of fiduciary discretion that are critical to the skill set of practitioners. Though decisions addressed to these issues are not often the focal point of this column, this month’s discussion considers significant lessons to be learned in the administration of an estate.
Charitable Intent and Cy Pres
Before the Surrogate’s Court, Bronx County, in In re Mayer was an application by the decedent’s two sons, successor trustees of an inter vivos trust, to substitute one charitable beneficiary thereunder for another pursuant to the cy pres doctrine.
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