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Perpetual trusts

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Perpetual Trusts And The Settlor's Intent, Joshua C. Tate Jan 2005

Perpetual Trusts And The Settlor's Intent, Joshua C. Tate

Faculty Journal Articles and Book Chapters

In recent years, a number of American states have abolished the Rule Against Perpetuities, allowing for the creation of perpetual dynasty trusts. Some scholars have suggested that these states should also pass statutes making it easier for beneficiaries and trustees to undo a perpetual dynasty trust after the settlor has died. This article makes use of a novel source of empirical evidence - websites created by estate planners to entice clients to set up dynasty trusts - to show that settlors' goals would be frustrated by the proposed legislation.