PROPOSED LEGISLATION REGARDING STATE SUPERVISION OF CHARITIES
Bogert, George Gleason
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- 1978People ex rel. Scott v. George F. Harding Museum Ill. App. Ct.
- 1961State v. Taylor Wash.
- 1957Pruner Estate Pa.
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Abstract
In the case of private trusts the dangers of long continued neglect or other breaches are not great. Definite or ascertainable persons have a financial interest in enforcement and can bring suit against the trustee. The beneficiaries are almost inevitably informed of their status soon after the creation of the trust. It is the duty of the trustee to notify them of the trust creation, and court notices, the receipt of benefits, and other incidents of trust administration bring home to the beneficiaries knowledge of their situations.
Court accountings or voluntary reports generally keep the cestuis informed as to the trustee's work. Usually the beneficiaries know their rights and show some diligence in asserting them. Most private trusts are of relatively short duration, so that knowledge of their existence is not apt to be destroyed by the vicissitudes of human life, including the deaths of trust personnel.