Proceedings of the Board of Regents (1963-1966)

JULY MEETING, 1965

931

"All the rest, residue, and remainder of my estate subject to the payment of
charges described in Paragraph I above, I give, devise and bequeath to the
Crippled Children's Home of Northville, Michigan, and if such institution be not
then in existence, then I direct my Executor named hereafter to pay and deliver
the residue of my estate as aforesaid to such other institution located within the
State of Michigan, and caring for crippled children as my Executor shall determine."
Because the Crippled Children's Home of Northville, Michigan, was
not in existence at the time the will became effective, the Manufacturers
National Bank of Detroit, as executor, upon the firm recommendation
of Mrs. Donald Bacon, niece of the decedent, named the University as
the alternate to receive the residue of the estate to establish a fund to
be known as the "Anna B. Andrews Fund" for the care of crippled
children.
The estate is now ready for closing, and the executor has delivered to
the University its check in the amount of $23,474.02, representing the
residue of the estate. The conditions upon which this fund is received by
the University are as follows:
"The said fund will be maintained as an expendable restricted fund in accordance with the usual practice of the Regents, and the income and the principal of
the fund will be used only for the care of crippled children in the University of
Michigan Hospital. Expenditures from the fund will be authorized by the Regents
for the purposes stated in the will upon the recommendation of Dr. Gerald O'Connor
for so long as he is a member of the staff of the Department of Surgery or upon the
recommendation of the Chairman of the Department of Surgery of the University
Hospital."
The University Attorney reported that the will of Miss Margaret M. Fisher: Will
Fisher, who recently died a resident of 47 East 88th Street, New York
City, had been offered for probate in New York.
Article Thirteenth, which disposes of one-half of the residue to charities, divides the corpus into sixteen equal shares and provides in part
as follows:
"THIRTEENTH:
"a) Two portions to each of the following institutions for the purposes herein
specified:
"(4) UNIVERSITY OF MICHIGAN, Ann Arbor, Michigan, to establish
a scholarship in its School of Law, to be called the Robert B. McKnight
Scholarship, in memory of the late Judge Robert B. McKnight of Saginaw,
Michigan.
"Should the governing body of any of the foregoing institutions at any time
deem that the use of any property received hereunder for any of the purposes hereinabove specified is inadvisable or impracticable for any reason, such property may
be used for any other purpose in the absolute and unfettered discretion of such governing body."
The alumni records indicate that Miss Fisher never attended this
University. Judge McKnight, in whose memory she made the bequest,
received an LL.B. degree in 1879 and died in 1895.
The executor advises that Judge McKnight was the first husband of
Miss Fisher's mother. He further advises that the University's share of
this estate should amount to approximately $50,000.
The Controller reported that a bequest of $250,000 had been received c. H. Ibershoff:
from the estate of Carl H. Ibershoff (p. 758). Bequest Received