Any re-allocation of Presbytery assests shall require written permission by at least two Trustees. The Trustees shall direct these transfers. The Trustees shall report at the second Stated Meeting of Presbytery of each calendar year. M-4.0400 Comment Generally, the duties of Trustees are to hold and preserve property. In that regard, Trustees are generally required to be conservative in their investments, expenditures, and in dealing with the property under their control.
Trustees are also to be guided by the in- tent of the donor at the time the trust was created.
This intent is customarily expressed in the written document creating the trust such as a deed, will, or other agreement. This can be done orally. However, there is also evidence called the Parol Evidence Rule which says that when the meaning of the written document is clear, the oral evidence should not be used to interpret the meaning of the trust, so the Trustees should be careful in using oral evidence to define the parameters of their trust responsibilities. Also, in this instance, the Trustees take guidance from the directions of Presbytery. The trust property can be real estate, either the absolute title to all the real estate or some lesser fraction thereof such as an undivided one-half interest or mineral right alone or remainder interest when some other person or entity has the life estate.