Ronald Chester has published his article, The Life and Death of the Ipswich Grammar School Trust: Is Enduring Dead Hand Control Possible?, in the ACTEC Law Journal.   The article begins as follows:

Charitable trusts potentially run forever because they are not subject to the Rule against Perpetuities. Unfortunately, those who estab- lish them often let their own egos get in the way of ensuring that their charitable legacies will endure. Since most donors are quite wealthy, they typically are used to being “in control” during life. In the individualistic society that characterizes the current United States, these wealthy donors often wish to remain in control even after death. Thus, the charities they leave to the living may be burdened with restrictions that, if followed, will doom their charitable enterprises to failure.

In this article, the author examines the life and death of America’s longest-lived charitable trust, the Ipswich, Massachusetts Grammar School Trust. Established in 1652, the trust had one very valuable asset at its termination in 2012 – the peninsula called Little Neck in Ipswich, which was willed to the trust in 1660…

via American College of Trust and Estate Counsel | ACTEC Law Journal.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.