Dispute Over a Will Written 351 Years Ago

William Payne was one of the first settlers in Massachusetts. 351 years ago, he wrote in his will that he was leaving a 35-acres of seafront property, never to be sold or wasted, for the benefit of public school children. In fulfillment of the trust, 167 cottages were built on the land he left for Ipswich. Summer vacationers occupy most of the cottages and the rent money has raised $2.4 million to fund public schools for the past 25 years.

Tenants brought a 2006 lawsuit over rent increases, and now the trustees want to go against Payne’s will to convert the property to condominiums and sell them to the tenants to settle. Hundreds of Ipswich residents have tried to block the settlement because it violates the intent of Payne’s will and will take away from the schools.

The Massachusetts Appeals Court will hear arguments in the case on March 2. Residents say that the appraised value of the land is $41 million, which exceeds the $32 million settlement price by $9 million. Additionally, the agreement does not account for the rising land value that occurs over time that would have benefited the public schools. Residents are also accusing trustees of mismanagement. There are varying arguments as to how they may have mismanaged the trust, but the underlying complaint is that the funds have never been professionally managed.

The Attorney General is going to support the land sale arguing that the trust is no longer able to carry out Payne’s wishes. Furthermore, it contends that the settlement restores a revenue stream for the Ipswich schools in line with what Payne wanted, and it will ensure the long-term sustainability of his gift for the future. Also, the settlement provides for a publicly appointed board to govern the trust, which should promote accountability in the management of the trust for the future. Opponents of the settlement find the settlement frightening because it shows that a settlor’s intent could easily be disregarded and beneficiaries’ interests could be pushed aside for the sake of an expedient resolution.

See Rodrique Ngowi, 351-year-old Will Sparks Bitter Dispute in Mass., Yahoo, Feb. 24, 2012. 

Special thanks to David S. Luber (Attorney at law, Florida Probate Attorney Wills and Estates Law Firm) for bringing this article to my attention.