In re Trusteeship of Mayo
Minnesota Supreme Court
105 N.W.2d 900 (1960)
Relevant factsFree
Dr. Charles Mayo's trusts, which barred trustees (defendants) from investing in corporate stock, were shown by beneficiary Esther Mayo Hartzell (plaintiff) to be at serious risk from inflation unforeseen at the trusts' creation — evidence indicated that absent deviation from the no-stock restriction, the trusts would be worth less than 25 percent of their value at Mayo's death within 20 years. The trial court denied Hartzell's petition to deviate from the restriction, and she appealed.
IssueFree
May a court modify a trust in order to accomplish a material purpose of the trust that, absent modification, would be defeated or substantially impaired?