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Trusts Rule Against Perpetuities

Conyers

Disapplication of the Rule Against Perpetuities Takes Effect in the Cayman Islands

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The Perpetuities (Amendment) Act, 2024 (the “Act”) has taken effect in the Cayman Islands, providing for the disapplication of the rule against perpetuities for Cayman Islands ordinary trusts. This legislative development...more

Walkers

Cayman Abolishes Rule Against Perpetuities

Walkers on

Previously, ordinary trusts established under Cayman Islands law were subject to the rule against perpetuities. This means such trusts were required to vest within a perpetuity period of 150 years, at which point the trust...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Think Twice Before You End A Trust – Income Tax Consequences of Trust Commutations and "Early Terminations"

Despite the Rule Against Perpetuities (which basically says a trust can’t go on forever) being repealed in many states, most trusts, as a practical matter, don’t go on forever. In an ideal scenario, the terms of the trust...more

Rivkin Radler LLP

Attention Congress: Focus On the Estate Tax Regime; Leave the Income Tax Alone

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“Déjà vu All Over Again”- The White House last week released the President’s Budget for the Fiscal Year 2023. The Budget is ambitious, but its “investments,” we are told, “are more than paid for with tax reforms focused on...more

Winstead PC

Fiduciary Litigation Update 2020-2021 - Presentation

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David Johnson presented his paper entitled “Fiduciary Litigation Update 2020-2021” to the Texas Bankers Association’s Wealth Management & Trust Conference on September 30, 2021. This presentation covered recent statutory...more

Winstead PC

Texas Legislature Extends The Rule Against Perpetuities To 300 Years For Trusts

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The Texas Legislatures recently passed a bill that takes effect on September 1, 2021 that extends the rule against perpetuities to 300 years for trusts. The Legislature forwarded the bill (HB 654) to the governor on May 20,...more

Conyers

It’s About Time: Bermuda’s Approach to the Rule against Perpetuities

Conyers on

Disapplying the perpetuity period of a trust can allow deceased settlors to extend their influence down many future generations, almost indefinitely. However, the hand of the deceased settlor can be seen as benign and...more

Goulston & Storrs PC

Probate and Fiduciary Litigation Newsletter – October 2018

Goulston & Storrs PC on

Our first newsletter of the fall summarizes four recent cases of note, including a Massachusetts Appeals Court victory for clients of Goulston & Storrs who successfully defeated an action seeking to remove them as trustees....more

Arnall Golden Gregory LLP

Important Legislative Changes Relevant to Georgia Clients

The 2017–18 Georgia legislative session brought numerous changes, including several significant amendments to the Georgia Trust Code and other trust laws. These new changes take effect on July 1, 2018. Below are some of the...more

Winstead PC

Court Holds That Trust Did Not Violate The Rule Against Perpetuities and That A Beneficiary’s Assignment Of Interests Violated A...

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In Bradley v. Shaffer, family members placed mineral interests they inherited into the trust. No. 11-15-00247-CV, 2017 Tex. App. LEXIS 11154 (Tex. App.—Eastland November 30, 2017, no pet.). ...more

Gray Reed

Mineral Conveyance Thwarted by a Spendthrift Provision

Gray Reed on

In Bradley v. Shaffer, Darrell, a beneficiary of a mineral trust established by his grandparents, purported to convey to Bradley his mineral interests that were subject to the trust and any interest held in trust that he...more

Robins Kaplan LLP

Trust and Estate Law: South Dakota Dynasty Trusts 101

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Usually, estate planning involves the creation of an updated will, a health care directive, and assigning a power of attorney. But sometimes an estate needs more, especially when a large or growing inheritance is involved....more

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