[LMB] OT: The Rule against Perpetuities (was: Challenge Question
jamesandmary.burbidge at sympatico.ca
20 Apr 2004 19:48:57 -0400
On Tue, 2004-04-20 at 17:46, Mitch Miller wrote:
> There are a number of ways around this, however. I have seen some UK
> instruments which provide that the measuring life is "the life of the
> last of the descendents of King George V now living to die" which
> might or might not be accepted in the US, but you could certainly use
> the "last of all the descendants of my grandparents."
The Rule requires the ability to define a determinate life in being at
the time of the testator's/donor's death/gift. The use of the royal
family doesn't have to do with the status of the Royal family but with
the fact that thae members of the family are clearly enough documented
to fulfill the requirements.
Note that charitable trusts are not subject to the Rule, although some
sorts (e.g. those which hold land) may be subject to mortmain