Can you extend the perpetuity period for a trust?

The perpetuity period for trusts established in Australia is governed by the common law rule against perpetuities. This rule sets a limit on the maximum duration of a trust and other non-charitable interests in property. The rule aims to prevent property from being tied up in a trust indefinitely and to ensure that property can eventually return to commerce.

In Australia, the rule against perpetuities has been modified by various state and territory jurisdictions. These modifications have generally extended the perpetuity period to a maximum of 80 years. However, the specifics can vary by jurisdiction, and it's essential to consult the relevant legislation in the state or territory where the trust is established to determine the precise rules that apply.

Additionally, some exceptions and provisions might allow for even longer perpetuity periods in specific circumstances, such as trusts established for charitable purposes or under certain statutory provisions.

Since laws and regulations can change over time, it's crucial to consult with a legal professional or solicitor who specialises in trusts and estate planning to get the most up-to-date and accurate information regarding the perpetuity period for trusts in your specific jurisdiction within Australia. They can provide guidance tailored to your particular situation and any recent legal developments. Feel free to contact us if you are wanting to extend your perpetuity period.

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