A E Sai Gokul* & Ms. Jaya Preethi Manoharan**
ABSTRACT
A trust manages the distribution of a person's property by transferring its benefits and obligations to different people. There are many reasons to create a trust, making this property distribution technique a popular choice for many people when creating an estate plan. To create a trust, the property owner transfers legal ownership to a person or institution to manage that property for the benefit of another person. The trustee often receives compensation for his or her management role. Trusts create a fiduciary relationship running from the trustee to the beneficiary, meaning that the trustee must act solely in the best interests of the beneficiary when dealing with the trust property. If a trustee does not live up to this duty, then the trustee is legally accountable to the beneficiary for any damage to his or her interests. Given the perpetual nature of charitable trusts, occasionally the trust outlives or outgrows the particular charitable purpose for which it was created. In those instances, the court will step in to modify the trust under the cy pres doctrine. Under cy pres, the court will apply the funds in a manner “as nearly like” as possible to the settlor’s original charitable purpose so the funds are still productive. This paper deals about the Doctrine of Cypres on the intention of the testator.
Keywords: Trust, Property, Estate, Management, Charitable, Doctrine of Cypres
