Drafting Trusts to Stand the Test of Time

A majority of states have repealed or extended the rule against perpetuities, abrogating any real limit on how long a settlor can control the disposition of trust property. In response to the changing legal landscape, wealthy clients are increasingly creating trusts intended to last well beyond the life expectancies of their children, grandchildren and even great-grandchildren. Although many factors influence whether a trust will stand the test of time, the most significant impediments