Bank of America, N.A., as Trustee of the Harold W. Wood and Gertrude B. Wood Trust, the Marion Law Trust, the John…

Summary

The Supreme Court of Rhode Island affirmed the Superior Court’s final judgment, holding that the trial justice correctly applied the cy près doctrine by designating The Miriam Hospital as the alternative charitable beneficiary for the Richardson, Preston, and Wood trusts. The Court further held that the trusts’ proceeds must be used for inpatient and emergency care, reflecting the settlors’ original intent, and that the geographic requirement of the Wood Trust was satisfied. The decision rests on a de novo review of the trial justice’s legal determinations and a deferential review of factual findings.