The following is a list of the states that have abolished their rule against perpetuities, enacted an opt-out rule against perpetuities or made further changes to their rules against perpetuities:

Alaska, Arizona, Colorado, Delaware, Idaho, Illinois, Maine, Maryland, Missouri, Nebraska, New Hampshire, New Jersey, Ohio, Rhode Island, South Dakota, Virginia and Wisconsin.

In addition to these states, Washington, D.C. allows perpetual trusts, while the states of Wyoming and Utah allow a dynasty trust to last for 1,000 years. Florida allows a dynasty trust to last for 360 years and Washington allows a dynasty trust to last for 150 years.

On October 1st, 2005, the state of Nevada will allow a dynasty trust to last for 365 years.

If you would like more information regarding asset protection, trusts, family limited partnerships or the subject of this article please call or email our office.