Rule Against Perpetuities Savings Clause

Below is a typical example of a rule against perpetuities clause from your average asset protection trust.

Rule Against Perpetuities Savings Clause Example

Trust Period means the period commencing with the date of this Settlement and ending on the first to occur of the following dates, namely:

(i) The date of the sixtieth anniversary of the date of this settlement;

(ii) The period commencing on the execution hereof and continuing until such day as the Trustee with the consent of the Protector may by deed or written declaration at any time and at its discretion declare to be the date of the expiration of the Trust Period. Notwithstanding the foregoing, the Trustee shall have no authority to shorten the duration of the Trust Period to less than three years or if such act is the result of any compulsion or Event of Duress.

(iii) The date being twenty-one years after the death of the last surviving survivor of the descendants now living of His Majesty King George V of England.

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