The Rise of the Perpetual Trust

By Jesse Dukeminier & James E. Krier
In Print
August 28, 2003
1 Min read
Add comment

Abstract

For more than two centuries, the Rule against Perpetuities has served as the chief means of limiting a transferor's power to tie up property by way of successive contingent interests. But recently, at least seventeen jurisdictions in the United States have enacted statutes abolishing the Rule in the case of perpetual (or near-perpetual) trusts. The prime mover behind this important development has been the federal Generation-Skipping Transfer Tax. This Article traces the gradual decline of the common law Rule against Perpetuities, considers the dynamics behind the recent wave of state legislation, examines the problems that might result from the rise of perpetual trusts, and suggests some possible solutions.

[pdf-embedder url="https://www.uclalawreview.org/wp-content/uploads/2019/09/56_50UCLALRev13032002-2003.pdf"]

About the Author

Jesse Dukeminier is a Late Maxwell Professor of Law Emeritus, University of California, Los Angeles. James E. Krier is an Earl Warren DeLano Professor of Law, University of Michigan.

Read more

Silencing the Sex Worker

Abstract This Article argues that sex workers are silenced when they attempt to contribute to lawmaking processes. As a result, they are unable to contribute their knowledge in a meaningful way. The consequence is that laws reflect only one...

By Yvette Butler
In Latest Issue, Print
September 18, 2024

Corporate Law as Decolonization

Abstract After centuries of colonial subordination, Black and Brown former colonies are still fighting to achieve the fruits of decolonization. The traditional theory is that former colonies will emerge from the colonial period with the legal...

By Martin W. Sybblis
In Latest Issue, Print
September 18, 2024

Art After Warhol

Abstract Copyright law generally prohibits copying. Contemporary art has increasingly come to rely on copying. Thus, the two are on a collision course—or so the traditional argument goes. This purported clash between the law and creative practice...

By Xiyin Tang
In Latest Issue, Print
September 18, 2024

First Amendment Protections for Detained Organizers

Abstract Immigration detention is one of the most active sites of struggle for justice in the United States, and the First Amendment may be an underutilized tool in the movement to abolish immigration detention. When people detained by ICE organize...

By Joshua Z. Behrens
In Latest Issue, Print
September 18, 2024
By uclalaw August 28, 2003
Add comment
/* ]]> */