Feb. 27 – Wills, Trusts & Estates Prof Blog
Prof. Scott Shepard published “Which The Deader Hand? A Counter to the American Law Institute’s Proposed Revival of the Dying Perpetuities Rules”
Encouraged primarily by a fluke in federal estate and gift tax law, more than half of the states have either effectively or entirely abolished their rules against perpetuities in the past two decades. The American Law Institute, deeply troubled by this development, has adopted for its Third Restatement a proposed rule against perpetuities that would essentially prohibit conditional gifts to continue for the benefit of parties born more than two generations after the transferor.
Read more: Article on the ALI and the Rule Against Perpetuities