July 26, 2024 – We are pleased to announce The Perpetuities (Amendment) Bill, 2024 was passed this week which seeks to increase Cayman’s competitiveness in the trusts and estate planning industry by removing the mandatory perpetuity period of 150 years for many existing and future trusts.

Existing trusts can apply to the Grand Court to disapply the rule against perpetuities. Any trusts governed by foreign law, to which the rule against perpetuities does not apply under its governing law, can change their law to the Cayman Islands and will not be subject to the rule against perpetuities in this jurisdiction.

Please reach out to your usual client contacts if you would like more information on this development.