The term "cy pres" comes from a French term meaning "as near as possible." So-called “cy pres” awards are designated when there are residual funds in class action lawsuits, probate matters, and other court cases that cannot be distributed to the class members or beneficiaries for a variety of reasons. Courts solve this problem by making cy pres awards available to appropriate nonprofit charitable organizations.
Those involved in a class action case or who are able to designate a beneficiary for residual funds can help those who need free legal services by designating that the money go to the State Bar’s Greg E. Knoll Justice Gap Fund. These funds make a significant difference in the lives of low-income Californians who desperately need free legal assistance for safety, shelter, and well-being.
For more information about the Justice Gap Fund or cy pres funds, email iolta@calbar.ca.gov.