Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Saturday, September 3, 2016

Rockefeller University Wins Legal Battle Over Will Restrictions

Rockefeller universityRockefeller University petitioned the court to release restrictions set forth in a will that bequeathed generous institutional funds to the university, arguing that the restrictions became impracticable, wasteful, and an impediment to the prudent management and investment of the proceeds of the bequest. The Attorney General expressly concurred with the university's position that the release of the restrictions would further the testamentary intent of the donor. The donor estate did not oppose the petition. The court granted the petition, releasing the university from the obligation to comply with the sale and investment restrictions of the will.

See In re Rockefeller University, Supreme Court, New York County, August 15, 2016.

Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this case to my attention.


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