Shenandoah Valley National Bank v. Taylor
Supreme Court of Appeals of Virginia
63 S.E.2d 786 (1951)
Relevant factsFree
Henry's will directed the Bank (defendant) trustee to distribute income twice yearly, around Easter and Christmas, in equal shares to every child in specified grades at a local school, ostensibly for their education, without any needs-based restriction; one of his heirs (plaintiff) challenged the trust's validity, and the lower courts found no valid charitable trust was created.
IssueFree
Whether a valid charitable trust is created where the trust provides for distributions of income to an indefinite number of beneficiaries but the language of the trust does not indicate that the testator intended a charitable purpose.