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Unformatted text preview: beneficiary the right to trust property that is subject to limitations placed by the trustor. 4. What is the cy pres doctrine? Cy Pres doctrine means as near as possible and allows a court to find a charity with similar cause or purpose to give the trust income to. The use of this doctrine is dependent upon the trustor’s implication of their request being specific or general. 5. What are Crummey powers? Crummey power refers to a technique that allows a person to receive a gift that is not eligible for a gift-tax exclusion, and change it into one that is eligible. Crummey power is typically applied to contributions in an irrevocable trust most often in respect to life insurance....
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This document was uploaded on 06/22/2011.
- Spring '11