Definition from Nolo’s Plain-English Law Dictionary
A doctrine used to give a gift to a similar beneficiary when the true beneficiary no longer exists or is not available. The cy pres doctrine is most often used with charitable gifts when the charity named in an estate planning document no longer exists. In that case, the trustee or court may use the cy pres doctrine to give the gift to a similar charity to match the donor's intention as closely as possible.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:14 pm