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The Danger of Unrestricted Bequests and Gifts

The Danger of Unrestricted Bequests and Gifts

The University of New Hampshire spent an inheritance left to it by a long-time library employee in a way that raised a few eyebrows.

The Inheritance Left To University of New Hampshire By A Long Time Library Employee Was Spent In A Way That Raised A Few Eyebrows

Longtime University of New Hampshire library cataloguer died last year at the age 77. As his final wish to the world he left the entirety of his estate to the university where he graduated from and worked for most of his life. What shocked many though is the size of the humble librarian’s estate: four million dollars accumulated over a lifetime working for the university and living frugally.

But while many at the University of New Hampshire are thankful for the gift, the way the administration has decided to spend it has many asking if the university is honoring the librarian’s memory. One million dollars is being used to install a new video scoreboard at a new University of New Hampshire football stadium. Many students, alumni and community members wonder if this is the best way to use the funds considering the librarian’s occupation and passion for literature.  

The post The Danger of Unrestricted Bequests and Gifts appeared first on New York Estate Planning Lawyer Blog.

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