What is perpetuity?
Another issue that needs to be discussed is perpetuity. The trust will state how long the non-charitable trust can operate. With regards to charitable trusts, this is not the case; there will be no time limit on the amount of time that they can operate. There are also different rules for beneficiaries when it comes to charitable and non charitable trusts, it necessitates that the proposed beneficiary is named, or at least the type of beneficiary must be stated. So with regards to the proposed charitable trust, its important that you make sure that the beneficiaries are listed.