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Fred C. Lynam

Mr. Lynam’s legacy lives on today. Even after his death over sixty years ago, he continues to contribute to the community he loved and worked so hard to build. Within the many pages of Mr. Lynam’s Will not only did he bequeath to friends and family for their lifetimes, but he put into motion the ability for a trust to continue to give for generations. The following is a quote from Mr. Lynam’s will:

"I am perfectly aware that the income from my estate will vary from year to year and that the number of beneficiaries and the sum necessary to take care of the bequests made for them will vary and will gradually decrease since each bequest of income is for the life of the beneficiary only. I am also mindful that our economic and social structure is constantly changing so that any specific charitable, benevolent, religious, and educational bequest made at this time may be unwise or unnecessary at some future date, especially in trusts set up in perpetuity for these purposes.”
The following section is also quoted from Mr. Lynam’s Will and once again proves what a wise and farsighted man he was.
"With this in mind” (the above quoted paragraph), “I direct my Trustee to pay any balance of income in any year when there is a balance after satisfying the payments under Sections D, E, and F to and for the charitable, benevolent, religious, and educational purposes, which may be or they may consider particularly beneficial to and advantageous for the people of Mount Desert Island. I further instruct them that such payments shall be made without regard to the race, creed or politics of the donee or the management of the donee, but so far as possible to keep pace with the ever changing charitable needs of the Island as a community, and the fact that one or more of the Directors or officers of the Trustee may be directly or indirectly interested in any capacity with or related to a beneficiary shall not disqualify that beneficiary.
It is my intention to give my Trustee the fullest latitude in connection with the distribution of the income of this Trust under this Section and recognizing that this Trust comes within the qualifications of a Trust to which the cy pres doctrine may be applied, I authorize my Trustee to apply said doctrine when and as it sees fit and without application to the Courts and furthermore I give my Trustee broader and further powers than they would have under the cy pres doctrine and authorize them in the event they become dissatisfied with the management or operation of any beneficiaries to which they advance funds, (including beneficiaries which are suggested by me), or if for any reason in their judgment there are other charitable, educational, benevolent or religious purposes or instruments for which the funds could be better expended, then they can pay the income or any part of the income to those purposes, even though those purposes may not be similar to any purpose suggested by me or divide said income between any of them as they may see fit, and completely or partially eliminate any of those suggested by me, and again to change, alter, add to or take from those so chosen."
The section following the above quote, from Mr. Lynam’s will, names specific bequests to be paid on an annual basis after certain conditions having been met to local non-profit entities.  I now quote, what I feel to be the most important section of Mr. Lynam’s will.
"and that any balance of income in any year be paid and used for educational purposes as may be determined upon by a majority vote of the Directors of said Bar Harbor Banking and Trust Company. The words “educational purposes” are to be given the broadest construction, including the right to give any man, woman, or child education or further educational advantages or to expend the income on a broader educational field, including community education in the form of lectures or other developments deemed by the Trustee beneficial to the general community or public weal and for those purposes or any one of these purposes to join with any other organization of any type whatsoever and to expend said income or part thereof partially for one purpose and partially for others."
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