History

            James H. Gnam,, in his Last Will and Testament established the James H. and May M. Gnam Educational Trust.  Since Mr. and Mrs. Gnam had no children, the trust was established to benefit the descendants of Mr. Gnam’s grandfathers Alois Gnam and James McConolgue.

 

            Mr. Gnam appointed Sean Coleman, a relative of Mary M. Gnam, and a member of the Bar of Virginia, as the initial Trustee to administer the trust assets and to make such regulations as are necessary and proper to govern the affairs of the trust.  Mr. Coleman, in execution of his duties as Trustee has promulgated the rules and regulations found on this website.

 

            As originally framed the trust was to last in perpetuity, however, one potential heir to Mr. Gnam’s estate contested the provision of his Last Will and Testament establishing or implementing the Trust.  The heir contended that the Trust violated the “rule against perpetuities” and was therefore legally invalid.  Judge Sheridan of the Arlington County (Virginia) Circuit Court ruled that, while the Trust technically violated the “rule against perpetuities”, the clear intent of Mr. Gnam was to provide for educational benefits to members of his extended family for the maximum period possible under the law.  Accordingly, Judge Sheridan ordered that the Trust be reformed to provide that it extinguished twenty-one (21) years after the death of the last family member that was alive at the time of Mr. Gnam’s demise.    Judge Sheridan’s ruling will allow the Trust to accomplish the goals of providing educational assistance to the members of the extended Gnam family for the next one hundred years.

 

            It is hoped that the benefits of this trust will not only foster memories of Mr. and Mrs. Gnam, but to encourage members of their extended family to seek and achieve educational opportunities that would not otherwise have been available to them.  It is the achievement of these educational goals and opportunities that were of paramount importance to Jim and Mary Gnam.

 

                                                                        -Sean Coleman, Trustee