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lawguy we're nearly stats twins :D
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Simple English definitions for legal terms
doctrine of approximation
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A quick definition of doctrine of approximation:
The doctrine of approximation allows a court to change how a trust is managed in order to keep the trust going and fulfill the wishes of the person who created it. This is also called the equitable doctrine of approximation. It is different from cy pres, which is another way to change a trust when it can't be carried out exactly as written.
A more thorough explanation:
The doctrine of approximation is a legal principle that allows a court to make changes to the way a trust is managed in order to ensure that the trust is preserved and the donor's wishes are carried out. This principle is also known as the equitable doctrine of approximation.
For example, if a trust was created to provide for the education of the donor's grandchildren, but the original terms of the trust are no longer feasible or practical, the court may use the doctrine of approximation to modify the terms of the trust to better achieve the donor's intentions. This could involve changing the beneficiaries or the way the trust is managed.
Another example could be if a trust was created to support a specific charitable cause, but that cause no longer exists or is no longer relevant, the court may use the doctrine of approximation to modify the terms of the trust to support a similar charitable cause that aligns with the donor's original intentions.