What is a perpetual trust?
A perpetual trust is a type of trust created under Washington’s inheritance laws that can continue to exist and provide benefits for the trust’s beneficiaries over a long period of time. These trusts do not have a predetermined expiration date and are designed to last for an unlimited amount of time. Generally, most perpetual trusts are established through a deed or other legal document, and can contain instructions or restrictions on how trust funds are used and distributed, and may also include special provisions that limit the use of the trust’s funds. Depending on the terms of the trust, the trustee may be required to make periodic distributions of the trust’s funds to the trust’s beneficiaries. Perpetual trusts can be established with different purposes in mind, such as providing for the education expenses of a donor’s descendants or preserving the donor’s wealth for future generations. Regardless of the purpose, a perpetual trust can provide a lasting legacy for generations to come.
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