Like Tree5Likes
  • 5 Post By traineeinvestor

"SPY" and 11 random guys....

Reply
  1. #1

    Join Date
    Dec 2002
    Location
    薄扶林
    Posts
    45,325

    "SPY" and 11 random guys....

    Spotted on a random feed....

    Related to SPY, the largest ETF around.


  2. #2

    A legacy of the rule against perpetuities (primarily designed to prevent people from controlling property from beyond the grave indefinitely and/or for trusts to accumulate wealth indefinitely) stipulated that a trust could last for "a life or lives in being + 21 years" at most or (IIRC) up to 80 years fixed term: https://en.wikipedia.org/wiki/Rule_against_perpetuities

    It used to be common for UK solicitors to create trusts based on the lives of the descendants of Queen Victoria as members of the British Royal Family were all reasonably public figures so it would, in theory, be possible to know when the last one alive at the date of creation of the trust had died.

    The rule was partly repealed in 2013/4: Robertsons [zh-Hant] - Trusts in Hong Kong

    mrgoodkat, shri, hullexile and 2 others like this.

  3. #3

    Join Date
    Nov 2005
    Location
    Cramped island
    Posts
    5,240

    but trustees can be changed right ? the dead one replaced by a new one.. those are all the custodian's director anyway


  4. #4

    Join Date
    Dec 2002
    Location
    薄扶林
    Posts
    45,325
    those are all the custodian's director anyway
    The oldest being 29 years old?

  5. #5
    Quote Originally Posted by freeier:
    but trustees can be changed right ? the dead one replaced by a new one.. those are all the custodian's director anyway
    Yes, trustees can be replaced but the point about the rule against perpetuities is to limit the life of the trust and that will be linked to the original appointees (who may but need not be trustees).

  6. #6

    Join Date
    Dec 2002
    Location
    薄扶林
    Posts
    45,325

    Spotted on Bloomberg..

    Wortha read.


    The SPY Kids Are All Right

    https://www.bloomberg.com/view/artic...-are-all-right


  7. #7

    Join Date
    May 2006
    Location
    Pampanga, Philippines
    Posts
    28,184
    Quote Originally Posted by shri:
    Spotted on Bloomberg..

    Wortha read.


    The SPY Kids Are All Right

    https://www.bloomberg.com/view/artic...-are-all-right
    Surprised they didn't know their names had been used!