What is a perpetual trust?
A perpetual trust is a type of trust that does not have a set expiration date. In California, perpetual trusts are governed by the California Uniform Trust Code, which is designed to provide a uniform set of laws for governing trusts in the state. Perpetual trusts are typically used to manage wealth between generations without the need for a will. Assets in a perpetual trust are managed by a trustee who is responsible for investing and managing the assets according to the terms of the trust. The trust may also have rules and provisions set out in it that dictate how and when the assets can be distributed to beneficiaries. A perpetual trust is also often used for asset protection, as the assets placed in the trust are protected from creditors and other legal entities that might seek to seize them. Because a perpetual trust does not expire, it can provide long-term security and protection to its beneficiaries.
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