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. If we set up a dynasty trustfor your descendants under the laws of one of these states, the trust assets will be protected from your descendants' creditors and ex-spouses forever and never be subject to estate taxes! 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 DYNASTY TRUST STATES:
Alaska
Alaska Stat. § 34.27.100
Arizona
Ariz. Rev. Stat. § 14-2901A
Delaware
Del. Code Ann. tit. 25, § 503
District of Columbia
D.C. Code Ann. § 19-904(10)
Idaho
Idaho Code § 55-111
Illinois
765 Ill. Comp. Stat. Ann. §§ 305/1–305/6
Maine
Me. Rev. Stat. Ann. tit. 33. § 101-A
Maryland
Md. Code Ann., Est. & Trusts § 11-102
Missouri
Mo. Rev. Stat. § 456.025
Nebraska
Neb. Rev. Stat. § 76-2005(9)
New Hampshire
N.H. Rev. Stat. Ann. § 564:24
New Jersey
N.J. Stat. §§ 46:2F-9–46:2F-11
Ohio
Pennsylvania
Ohio Rev. Code Ann. § 2131.09
PSA § 6107.1
Rhode Island
R.I. Gen. Laws § 34-11-38
South Dakota
S.D. Codified Laws §§ 43-5-8
Virginia
Wisconsin
Va. Code Ann. § 55-13.3
Wis. Stat. § 700.16
DYNASTY TRUST STATES WITH LONG TERM OF YEARS:
Colorado (1,000 yrs.)
Colo. Rev. Stat. § 15-11-1102(1)
Florida (360 yrs.)
Fla. Stat. § 689.225(2)(f)
Nevada (365 yrs.)
Nev. Rev. Stat. § 111.1031
Utah(1,000 yrs.)
Utah Code Ann. § 75-2-1203
Washington(150 yrs.)
Wyoming (1,000 yrs.)
Wash. Rev. Code § 11.98.130
Wyo. Stat. Ann § 34-1-139
The Nevada 365-year dynasty trust law was created by Steven J. Oshins in the 2005 legislative session. Until that time, Nevada trusts were limited approximately 90 to 120 years. Since Nevada has no state income tax, Nevada has become one of the leading dynasty trust states. This law is one of the most significant laws to pass in Nevada in decades.