https://www.taxtmi.com/caselaws?id=28197 Trust deeds created for the prospective wives of the assessee's sons were held valid because the beneficial interests vested within lives in being and did not offend the rule against perpetuity. The beneficiary class was sufficiently certain, as the deeds identified the persons to be benefited by reference to objectively ascertainable future events, namely the marriage of the named sons. A trust may also be created for a person not yet in existence if the statutory conditions are satisfied. The reference to ultimate charitable purposes did not invalidate the arrangements, because the primary beneficial objects were definite and workable. The arrangements were therefore upheld as legally effective. en-us Tue, 21 Sep 1982 00:00:00 +0530 Fri, 19 Feb 2010 15:51:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28197 Trust deeds created for the prospective wives of the assessee's sons were held valid because the beneficial interests vested within lives in being and did not offend the rule against perpetuity. The beneficiary class was sufficiently certain, as the deeds identified the persons to be benefited by reference to objectively ascertainable future events, namely the marriage of the named sons. A trust may also be created for a person not yet in existence if the statutory conditions are satisfied. The reference to ultimate charitable purposes did not invalidate the arrangements, because the primary beneficial objects were definite and workable. The arrangements were therefore upheld as legally effective. Case-Laws Income Tax Tue, 21 Sep 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28197