| Lawyers Please Interpret Wording in Deceased’s Trust Fund:?

Lawyers Please Interpret Wording in Deceased’s Trust Fund:?

enola gniyd asked:


“Notwithstanding any prior provision hereof,at the end of 21 years after the death of the last to die of all of my descendants living at my death,the Trustee shall distribute each trust then held to the beneficiary thereof.”

ok,my grandfather had three children,15 grandchildren and 14 great grandchildren at the time of his death … does that sentence pertain to the last to die of all of his descendants or just to his 3 children ??
also before this was this portion :

second:On the death of “my father”
,my Trustee shall distribute the trust principal and any accrued or undistributed income to the children of “my father”, per stirpes

(my father’s name was where I put “my father” so the trust was talking about my grandfathers son ,not my grandfathers father ….. just to hopefully prevent some of the wise cracks … lol …..

does the perp 21 over rule the clause saying the trust principal is to be disrtibuted upon my fathers death ???

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Comments

5 Responses to “Lawyers Please Interpret Wording in Deceased’s Trust Fund:?”

  1. MLaw on June 2nd, 2009 3:48 pm

    Great grand-children are descendants. Sounds like the term is last effort to avoid the Rule against Perpetuities if some other contingencies fail. There are probably other terms that will liquidate the trust well before that.

  2. bama_black_female on June 5th, 2009 10:17 am

    Gosh…that is horrid! I’m in law school, and our property teacher told us the rule against perp “21 years” is to make you or break you! I can’t wait to see the answer. Good luck.

    I do know that the purpose of the rule is to prevent fradulent conveyances, and apparently it’s so complicated lawyers are exempt from malpractice cause of actions in applying the rule. Not that this answers your question, but maybe if no one answers it will give you a starting point to get to the bottom?!?

  3. dissonantia on June 7th, 2009 12:35 am

    Literally, it looks like the last to die of all his descendants that were living at the time of his death. I’m interested in seeing how lawyers interpret it. If it is all of his descendants, someone ought to put that money in an interest-bearing account…because it’s going to be a long time before anyone gets it. Hopefully your grandfather’s actual intentions can be worked out.

  4. gomanyes562 on June 8th, 2009 10:43 pm

    The sentence pertains to all his descendants living at the time of his death. All three children,15 grandchildren and 14 great grandchildren are included.

  5. Barry C on June 9th, 2009 3:49 pm

    Hmm - are there trusts set up for folks other then the descendants - wives, friends, etc.?

    Otherwise it is not clear to me who would get the distributions?