Legal Question in Wills and Trusts in North Carolina
if money is left in a trust can you pass it on generation after generation
Asked on 2/05/11, 8:24 am
1 Answer from Attorneys
I do not have enough information to answer the question. The rule of perpetuities has been repealed and it is possible to have what are called "dynasty trusts" where the grantor who creates the trust can keep it going. They are very complicated and should be done by an attorney who is experienced in these matters as you do not want to run afoul of tax and other laws.
For most people this does not make sense. Also, it depends on how much is in the trust and whether it is economical for it to continue.
Answered on 2/06/11, 8:49 pm