property to be in the control of your progeny in perpetuity
December 9, 2012 5:23 PM Subscribe
Here's a little puzzle: you want a piece of property to be in the control of your progeny in perpetuity. You want to be certain that they don't up and sell it, and you especially want to be sure that future spouses don't get their hooks into it and force sale or forfeiture during divorce. How do you set things up to make this happen?
posted by Meatbomb to Law & Government (19 answers total) 5 users marked this as a favorite
I know you are not my lawyer, tax adviser, estate planner, etc.
It is a real issue that I am mulling over but let's just leave it as a purely hypothetical situation to avoid potential liability, implied client relations, etc. Anyways for now it is nothing actionable, I am brainstorming options for a few years in the future.
I'd like to hear general ideas, but if you want a jurisdiction let's say it is a large tract of farmland in Atlantic Canada.
Could you set up a shell company to own it, a trust, and you and your family sit on the board? You are employees of this trust, which is why you can live there and take advantage of the property? Or what?
Please note that I am not asking if you think this is a good idea, or if it is moral to force my will upon future generations. I'm really looking for technical solutions to this puzzle only.