Gardiner’s Island is something of a throwback to a time past due to the preservation of the island’s historical character by generations of the Gardiner family. However, a trust set up by a family member to ensure the island remained pristine is now embroiled in controversy after accusation of mismanagement by the local historical society. The society claimed the trustees were misusing the assets and sought a court order forcing the trust to return to it’s purpose of historical preservation. But a New York appellate court has denied the society standing stating the group was not a named beneficiary and did not have a “special interest” to give them standing. As a result, only the Attorney General of New York may bring the suit against the trust to enforce its purpose and, as of now, has shown no inclination to take action.
See John T. Brooks & Jena L Levin, No Standing to Enforce a Charitable Trust, Wealth Management, August 25, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
