WILLS - CHARITABLE TRUSTS - DOCTRINE OF APPROXIMATION - ACCUMULATION

By his will of 1915 the testator, after providing for several legacies, left the residue of his estate to trustees, to expend the income therefrom in establishing and providing a home for the worthy aged poor of Waterbury, in the memory of his deceased wife. The income was not sufficient adequately to carry out this direction, the fund amounting to around $30,000 at the time of testator's death in 1920, and the trustees petitioned the court for instructions. Held, there being a general charitable intent, the fund should be administered cy pres by the court to relieve the aged poor of Waterbury through other agencies, and the fund should not be accumulated until sufficient to establish and provide a home, since to do so would require an indefinitely long time, and since there was currently, much need for relief and no adequate agency to give it. Citizens & Manufacturers Nat.

Bank v. Guilbert, (Conn. 1936) 186 A. 564.