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Legacies

Posts from July 2013

  • Dynasty Trusts and the Relevance of the Rule Against Perpetuities

    July 15, 2013

    As famously phrased by legal scholars of old, the Rule Against Perpetuities ("RAP") mandates that, "[n]o interest is good unless it must vest, if at all, not later than twenty-one years after some life in being at the creation of the interest." Unfortunately, this definition does little to help people understand the true meaning of the RAP. Interestingly enough, however, the RAP actually has increasing relevance in the world today.

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