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Panel backs extending rule against perpetuities from 90 to 360 years in estate-law change
Summary
The Senate Judiciary Subcommittee voted to report House Bill 3432 favorably; the bill would extend the statutory rule governing when future property interests must vest from 90 years to 360 years, a change supporters said would encourage dynasty trusts and keep trust business in-state.
House Bill 3432, concerning the uniform statutory rule against perpetuities, received a favorable report from the Senate Judiciary Subcommittee after staff explanation and testimony from the probate bar's legislative committee.
Paula (staff member) described the bill as an amendment to the uniform statutory rule against perpetuities that would extend the period upon which a nonvested property interest must vest from 90…
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