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Wills, Trusts & Estates Keyed to Bonfield
Obermeyer v. Bank of America
Citation:
140 S.W.3d 18 (Mo. 2004)Facts
Dr. Joseph Kimbrough, a 1894 graduate and former faculty member of Washington University Dental School, was a lifelong supporter of the university, making numerous donations—many of them unrestricted. In 1945, he created a trust to provide income to his niece and nephews, amending it in 1955 to direct that, after their deaths, the remaining trust assets be given to Washington University for the exclusive benefit of its Dental Alumni Development Fund.
The Dental Alumni Development Fund was established in 1954 to support the dental school, and Dr. Kimbrough donated to it before its public announcement. He died in 1963, and the trust paid out to his relatives until the last passed away in 2000, triggering the final distribution.
However, the Dental Alumni Development Fund ceased operation in 1965, and the university closed its dental school in 1991. By the time the trust was set to distribute its assets in 2000, the designated fund no longer existed, and the dental school had been closed for nearly a decade.
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