This is why the Rule Against Perpetuities[1] exists which limits the existence of a trust to a life in being plus 21 years. There are various flavors of the rul

This is why the Rule Against Perpetuities[1] exists which limits the existence of a trust to a life in being plus 21 years. There are various flavors of the rule with plenty of exceptions and longer waiting periods after the last existing life-in-being depending on the jurisdiction. I believe charitable trusts are usually exempt. Matt Levine has written about the “SPY kids”[2] used when the ETF was formed. [1]https://en.m.wikipedia.org/wiki/Rule_against_perpetuities https://en.m.wikipedia.org/wiki/Rule_against_perpetuities [2]https://www.bloomberg.com/opinion/articles/2019-08-09/the-spy-kids-are-all-right https://www.bloomberg.com/opinion/articles/2019-08-09/the-sp...