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Click here for the full text of this decision FACTS:Charles Walker died on March 13, 2000, leaving a holographic will. Article V of the will stated that he wanted a particular tract of land to be sold, and for the proceeds to be invested in U.S. government bonds or insured tax-free municipal bonds. The “ultimate purpose” of the trust, to be called the James Madison Fund, “is to provide a million dollar trust fund for every American 18 years or older.” Article V acknowledged that it would take approximately 346 years for enough money to accumulate in the fund, but that when distribution of proceeds could be made, there should be no discrimination based on race, religion, marital status, sexual preference or wealth. Frost National Bank, named as independent executor, filed a declaratory judgment for clarification of several matters, including Article V. Walker’s beneficiaries answered to say Article V was void under the rule against perpetuities. The Texas Attorney General intervened, alleging the will created a charitable trust. The trial court ruled against the beneficiaries, finding the will evidenced a charitable intent. As a charitable trust, the rule against perpetuities did not apply. The trial court awarded attorneys’ fees to the AG. The beneficiaries appeal. HOLDING:Reversed and remanded. A charitable trust has a charitable purpose. Charitable purposes under Restatement Second of Trusts �368 (cited by Boyd v. Frost Nat’l Bank, 196 S.W.2d 497 (Tex. 1946)), include 1. the relief of poverty; 2. the advancement of education; 3. the advancement of religion; 4. the promotion of health; 5. governmental or municipal purposes; or 6. other purposes the accomplishment of which is beneficial to the community. Article V would fall, if at all, in the sixth category. That category, however, clearly has in mind the promotion of the social interest of the community as a whole. Article V, while generous in its terms, is nonetheless concerned only individual financial enrichment, without regard to need or effect. “The trust created by Walker is nothing more than a generous distribution of money with no contemplation or recognition of public benefit.” Since Article V does not create a charitable trust, it is thus subject to the rule against perpetuities. Article V creates a trust of indefinite duration, therefore it violates the rule against perpetuities. The court acknowledges that the trial court should have a chance to reform the noncharitable trust to match Walker’s stated purpose and not in violation of the rule against perpetuities. If reformation consistent with these principles is not possible, the trust is void. Whether or not the particular piece of land should be sold should also be considered. Based on its ruling, the court reverses the award of attorneys’ fees to the AG. OPINION:Rodriguez, J.; Rodriguez, Castillo and Wittig, JJ.

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