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IN RE KRAUSE ESTATE

Docket No. 6,023.

19 Mich. App. 155 (1969)

172 N.W.2d 468

In re KRAUSE ESTATE. KRAUSE v. ATTORNEY GENERAL

Michigan Court of Appeals.

Decided August 28, 1969.

Attorney(s) appearing for the Case

John C. Cary, for petitioner Richard H. Krause.

Warner, Norcross & Judd (Platt W. Dockery and R. Malcolm Cumming, of counsel), for petitioner Adolph K. Krause.

Frank J. Kelley, Attorney General, Robert A. Derengoski, Solicitor General, and Stewart H. Freeman and Charles D. Hackney, Assistant Attorneys General, for the Attorney General.

Before: J.H. GILLIS, P.J., and R.B. BURNS and V.J. BRENNAN, JJ.

J.H. GILLIS, P.J.

The question for decision is whether the trustees of a testamentary charitable trust may purchase, pursuant to instructions in the trust instrument, trust assets at a profit. The facts are largely undisputed.

Otto Krause died on May 27, 1950, leaving a will drawn and executed in 1948. Paragraph IV of the will established the "Community Service Trust," the corpus of which consisted of 3,200 shares...

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