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Posted by DF2 on February 13, 2007, 5:22 pm
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Stuart A. Bronstein wrote:
> But don't forget the rule against perpetuities. The trust
> must terminate at some point and the property distributed to
> the heirs at that point. The amount of time is not specific
> in terms of numbers, but is calculated by adding 21 years to
> the date of death of the last person to die out of a
> specified group.
The Mesa Royalty trust includes this in its charter, as shown
in
sec.edgar-online.com/2005/08/09/0001104659-05-037834/Section2.asp
and other places:
======================
The Trust may also be terminated at the expiration of
twenty-one years after the death of the last to die of all
of the descendants living at the date of execution of this
Trust Agreement of Joseph P. Kennedy, late father of the
late President of the United States, John F. Kennedy.
======================
That should be good for well over a hundred years.
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