Remember the rule against perpetuities from law school? Although the rule against perpetuities is often associated with famous old English cases, it is actually a modern problem. As reported by the ABA Journal, the rule recently played out when the heirs of a “cantankerous Michigan lumber baron” finally reached the end of a $100 million waiting game for his estate, 92 years after his death. The rule may be old, but it still applies and California attorneys need to know how it works in this state.
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