Nicola Bruce and Karen Corless, of Conyers, has made available for download their article, “It’s About Time: Bermuda’s Approach to the Rule against Perpetuities,” published in JDSUPRA. The abstract is as follows:
For how long should the dead be able to exert control, from beyond the grave, over the living? This question has arisen in the context of the “rule against perpetuities”, a rule that developed from the seventeenth century to ensure that property could not be bound up in private trusts long beyond the lives of the people living when the trust was created.
The rule originated from the Duke of Norfolk’s Case of 1682,which, in the Shakespearian flavour of the time, “concerneth a Great and Noble Family”, namely the Earl of Arundel, who tried to create an estate plan that would endure for many generations. The House of Lords felt that he should not be able to bind his estate with his conditions indefinitely.
Posted by Bella Hoang, Managing Associate Editor, Wealth Strategies Journal.