The Rule Against Perpetuities as It Relates to Powers of Appointment

Over the past twenty-five years, much has been written about the raison d'etre of the Rule Against Perpetuities. During this period, the theories underlying and the justifications posited for the Rule have changed considerably, while some of the older notions concerning it have been partially discredited. The purpose of this article is to utilize some of these newly arrived at basics and apply them specifically to the problem of the Rule as it relates to powers of appointment. In the course of the discussion, a cursory review of the history of the Rule and its policy progenitors is undertaken for background purposes, and in addition, the newer thinking about the Rule is broadly outlined.

Finally, an evaluation of the legal principles in light of these newer policy justifications for the Rule is attempted.