A trust of the income of any property to be accumulated or applied for the purpose of paying incumbrances or debts of the settlor or testator or of any other person, or any similar provision for such debts or incumbrances, where the accumulation for a period invalid under the rule against perpetuities is not made a condition precedent to the employment of the property for that purpose, is not invalid, even though it may last for an indefinite period1. The same rule appears to apply to provisions for indemnity or exoneration2.
A trust for payment of debts does not in
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.
EXISTING USER? SIGN IN
TAKE A FREE TRIAL
0330 161 1234