Lincoln, Nebraska Benefits from Federal Trust Law

When Robert Crawford died in 1970 the residual of his estate, about $100,000, went into the Robert P. Crawford Trust, where it was to remain for 99 years.  Crawford directed that after 99 years, the money be used to build a new city park, located on scenic land near the city limits of Lincoln, Nebraska. 

The Trust is now worth $2 million and because federal law now requires that a portion of trust funds be distributed each year, the city of Lincoln will receive a check for nearly $100,000. Trust officers say the city can spend the money as they wish.  The city’s mayor is advocating for a public arts project, in the spirit of Crawford’s original gift. 

Ultimately, the use of the money will be a community decision.  I think every city would like to have such a decision on their agenda.

See Deena Winter, Professor’s 1970 gift to Lincoln to start reaping benefits, Journal Star, July 2, 2009.

Special thanks to Andy Kafka (trust officer) for bringing this interesting story to my attention.