Trustees: Need to Know 7 – Trusts can’t last forever

In general private trusts cannot exist forever, due to the rule against perpetuities.  Older trusts may be limited by a ‘royal lives clause’ or similar, while newer trusts will now be covered by the Perpetuities and Accumulation Act 2009.  A key point is that some older trusts may now be entering their final decades so it will be vital that trustees start to consider the long-term future of the assets under their control.

This will be one of the topics reviewed in more depth during the forthcoming Trustee Training Events at Rhug estate and Ragley Hall, organised in conjunction with the CLA. For more details:

Trust Programme Spring 2015

This is the seventh of 10 brief ‘Need to Know’ notes for trustees and their professional advisers.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s