15 Pages Posted: 24 May 2010 Last revised: 13 Jul 2010
Date Written: June 1, 2010
Recent years have seen a movement in the states to pass legislation repealing or modifying the Rule Against Perpetuities in order to allow transferors to create trusts that can last forever or for several centuries. At its 2010 annual meeting, the American Law Institute took the position that the perpetual-trust movement is ill advised. The ALI’s case was stated in the Restatement (Third) of Property: Wills and Other Donative Transfers (Tent. Draft No. 6, Approved 2010). This short essay reports on the case for retaining a rule that curtails dead-hand control.
Keywords: American Law Institute, Dead-Hand Control, Perpetuities, Donative Transfers
JEL Classification: K10
Suggested Citation: Suggested Citation
Waggoner, Lawrence W., Curtailing Dead-Hand Control: The American Law Institute Declares the Perpetual-Trust Movement Ill Advised (June 1, 2010). University of Michigan Public Law Working Paper No. 199. Available at SSRN: https://ssrn.com/abstract=1614934 or http://dx.doi.org/10.2139/ssrn.1614934