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Restrictions established by the benefactor who established the trust are considered to be voluntary.
"Once established, the Trust would appoint a management team who would be responsible for the running of the business.
Martin M. Shenkman, a trust lawyer in Teaneck, N.J., said that courts generally respected the desires of whoever established the trust.
Once established, the trust can collect claims for damages to the asset directly from the parties responsible, just as happens in the wake of an oil spill.
Alberta is Alberta M. Bair, the strong-willed, quirky heiress who favored red hats and vodka and established the trust that had financed the museum.
Britain's Guardian has (mostly) prospered under such an arrangement, though several of the original trustees were grandchildren of John Scott, the publisher who established the trust.
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It was "perhaps the most beautiful answer I have ever heard," she recalls, and it established the trusting peace that was to prevail between them for the rest of his life.
But they insist they were allowed by the rules that grantor A.N. Pritzker wrote when he established the trusts in the 1960s and 1970s.
"We need to re-establish the trust between partners.
Maybe then, he says, you will establish the trust you need to tackle the problem of the 12 million undocumented.
Carol Cronheim, a cultural affairs adviser to the governor, said the administration would begin working with legislators next month to establish the trust fund.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com