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LSDefine

Simple English definitions for legal terms

accumulations, rule against

Read a random definition: mala antiqua

A quick definition of accumulations, rule against:

The rule against accumulations states that if someone wants to save the income from their property to distribute it to certain people later, they can only do so within a certain time limit. This time limit is called the perpetuity period. If the accumulation of income goes beyond this period, it is not allowed.

A more thorough explanation:

Definition: The rule that states a direction to accumulate income from property, with the intention of distributing it later to certain beneficiaries, is only valid if it is limited to the perpetuity period. This rule is also known as the rule against accumulations.

Example: A wealthy individual leaves a will that directs their estate to accumulate all income from their properties for the next 50 years, with the intention of distributing it to their grandchildren after that time. However, the rule against accumulations states that this direction is only valid if it is limited to the perpetuity period, which is typically 21 years after the death of the last living beneficiary. Therefore, the direction to accumulate income for 50 years would be invalid.

Explanation: This example illustrates how the rule against accumulations limits the amount of time that income can be accumulated for future distribution. In this case, the direction to accumulate income for 50 years exceeds the perpetuity period, making it invalid. The rule against accumulations is in place to prevent property from being tied up for too long and to ensure that beneficiaries receive their rightful share in a timely manner.

accumulation | accumulative

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got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
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