From the Associated Press:
How Did the Kennedys Become Boilerplate?Or maybe it's just for the Kennedy obsessors.
THE BOILERPLATE: ''In no event shall the trust continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy Sr., the late Ambassador to the Court of St. James.''
WHERE IS IT? In documents for more than 6,000 commercial trusts worth billions of dollars.
WHY IS IT THERE? English law dating back to the 1680s, The Rule Against Perpetuities, set the terms for how long a patriarch could exert control over his heirs. Lawyers for commercial trusts apply the same rule.