The Lurking Rule Against Accumulations of Income

The Rule Against Perpetuities is dying an ignoble death. To attract trust business and the lawyers\u27 fees and trustees\u27 commissions that come with it, twenty states have abolished the Rule as applied to interests in trust. But the Rule Against Perpetuities is not the only rule of property law that bears on trust duration. Another is the rule against accumulations of income, which limits the timeframe during which a settlor may direct the trustee to accumulate and retain income in trust. For 200 years, the rule against accumulations of income has lurked in the shadow of its older and more distinguished cousin, the Rule Against Perpetuities. But with the race to abolish the Rule Against Perpetuities, the rule against accumulations of income may have newfound relevance. Perpetual trusts are more likely than ordinary trusts to involve accumulations of income in trust. Accordingly, the task for this short essay is to examine the lurking rule against accumulations of income and its potential impact on the $100 billion perpetual trust industry

Tributes to Professor Cyril A. Fox, Jr.

Cy Fox often forgets that he was supposed to be “only” an academic. For three decades, as he helped thousands of law students through the intricacies of the Rule in Shelley’s Case, or watched them calculate a “life in being plus twenty one years” for the Rule Against Perpetuities, he failed to appreciate that law school was supposed to be an amalgam of theory and confusion, not the place for his teaching law students about helping real people solve real life problems

PROPERTY Estates: The Uniform Statutory Rule Against Perpetuities

The Act strikes Georgia\u27s Rule Against Perpetuities and adopts the Uniform Statutory Rule Against Perpetuities

Virginia\u27s Drear Aridities: Its Rule of Perpetuities

Whereas most Virginia lawyers know about the rule against perpetuities, many of the same lawyers do not know what it is all about. Perpetuities is a dry and dismal subject to an active practitioner, and the state of abject bewilderment with which he was indoctrinated about the rule against perpetuities while in law school lingers on to haunt his memory. for the balance of his professional career. It is not until an actual client appears with a perpetuities problem that the same practitioner is forced to face the stark realities of the rule. It is only then that the complexities of the rule that perplexes stand out in all their infinite glory. With this horrible possibility always just over the horizon, it is time that somebody talked about Virginia\u27s own rule against perpetuities. This commentary purports to be just that- a dissertation about Virginia\u27s rule. What should be done about it, if anything, will be reserved for future consideration

Future Interests

I denna rapport utreds olika metoder för att kunna reglera vattennivån i vattenkraftverket Avesta Lillfors i Dalarna. Två kraftverk ligger endast 900 m uppströms och detta gör att svarstiderna blir korta och regleringen blir lätt nervös. Att använda sig av vattennivåreglering i ett kraftverk för-enklar dess styrning då anpassning till inflödet sker automatiskt. En flödestabell har tagits fram genom mätningar i turbinen, med hjälp av Winter-Kennedy-metoden. Denna tabell används för att kunna fram-koppla regulatorn och därmed dämpa stora variationer i inflödet. Dessu-tom har en modell av älven skapats och testats med en återkopplad PID-regulator. Utefter dessa tester har lämpliga parametrar tagits fram, som ger önskad stabilitet, noggrannhet och snabbhet. Simuleringar har även gjorts med reglermetoden Fuzzy logic.This report evaluates different methods to create a stable regulation of the water level in the hydro power plant Avesta Lillfors, in county Dalar-na. Another pair of plants are located just 900 m up the stream, which is why the regulation has to act fast. If the water level can be regulated and automatically adjust to the incoming flow, it facilitates the control of the plant. A flow chart is created from measurements in the turbine, using the Win-ter-Kennedy method. The results are used for feedforward control. A PID-regulator with feedback is also simulated in a model of the river. This helps finding the parameters that provide a stable, accurate and fast regu-lation. Fuzzy logic control has also been simulated

Georgia\u27s Proposed Dynasty Trust: Giving the Dead Too Much Control?

Georgia should resist the urge to join the parade of states that have overturned the Rule Against Perpetuities. We do not neet the dynasty trust in Georgia. The repeal of perpetuities laws ignores the reasons for the Rule Against Perpetuities and uncritically assumes that preserving family wealth in perpetuity is a desirable social goal. The Rule is still needed to prevent persons long removed from the current scene from tying up wealth without restriction and from unduly influencing the behavior of those living in the present. For background purposes, this Article reviews the legislative history of Georgia\u27s Rule Against Perpetuities from 1863 to the present time, including the effect of enactment of the Uniform Statutory Rule Against Perpetuities (USRAP) in 1990. Uses of the GST exemption of dynasty trusts are described and their pros and cons considered and evaluated. Finally, this Article examines the contemporary policies served by the Rule, and the effect of perpetual dynasty trusts on society