Future Interests-Rule Against Perpetuities–Cy Pres Applied to Modify an Interest Violating the Rules
Testator’s will created a trust for his grandchildren which was to terminate “when my youngest grandchild (whether now living or hereafter born) shall become twenty-five years of age.” As it would be possible for the youngest grandchild to become twenty-five beyond the period permitted by the Rule Against Perpetuities, the chancellor held the class gift invalid. The state supreme court reversed, and ruled that since the trust allowed payment of income to the beneficiary as needed, the interests vested upon the death of the testator. On suggestion of error, held, overruled, judgment modified and corrected. The interests may be modified through application of the equitable doctrine of cy pres to avoid the effect of the Rule Against Perpetuities; as such, the trust will terminate when the youngest grandchild reaches the age of twenty-one. Carter v. Berry, 140 So. 2d 843 (Miss. 1962).