Following is a list of the states that have either abolished their rule against perpetuities, enacted an opt-out rule against perpetuities or made another change to its rule against perpetuities. Note that the so-called "Tier 1 states" are Alaska, Delaware, Nevada and South Dakota because of the importance of selecting a state with no state income tax on trusts. You DO NOT need to reside in one of these states to take advantage of their favorable perpetuities laws and set up a dynasty trust.
PERPETUAL AND LONG-TERM DYNASTY TRUST STATES:
Alaska - Alaska Stat. §§ 34.27.051, 34.27.100 --- Perpetual/1,000 years if exercise a power of appointment
Arizona - Ariz. Rev. Stat. § 14-2901(A) --- 500 years Colorado - Colo. Rev. Stat. § 15-11-1102.5(1)(b) --- 1,000 years Delaware - 25 Del. C. § 503 --- Perpetual for personal property/110 years for real estate District of Columbia - D.C. Code § 19-904(a)(10) --- Perpetual Florida - Fla. Stat. § 689.225(2)(f) --- 360 years Hawaii - Haw. Rev. Stat. § 525-4(6) --- Perpetual Idaho - Idaho Code §§ 55-111, 55-111A --- Perpetual Illinois - 765 Ill. Comp. Stat. §§ 305/3(a-5), 305/4(a)(8) --- Perpetual
Wyoming - Wyo. Stat. Ann. § 34-1-139(b)(ii) --- 1,000 years
The Nevada 365-year dynasty trust law was created by a legislative bill authored by Steven J. Oshins in the 2005 legislative session. Until that time, Nevada trusts were limited to 90 to approximately 120 years. Since Nevada has no state income tax, Nevada has become one of the leading dynasty trust states.