David Fowler Johnson, of Winstead PC, has made available for download his article, “Texas Legislature Extends The Rule Against Perpetuities To 300 Years For Trusts”, published in JDSUPRA. The abstract is as follows:
The Texas Legislatures recently passed a bill that takes effect on September 1, 2021 that extends the rule against perpetuities to 300 years for trusts. The Legislature forwarded the bill (HB 654) to the governor on May 20, 2021, but he has not yet signed the bill into law. But unless he vetoes the bill, it will become law after ten days.
Posted by Marin Larkin, Associate Editor, Wealth Strategies Journal.