|By Bobby Harrison, Northeast Mississippi Daily Journal, Tupelo|
Earlier, a spokesperson for Bryant said the governor would study the legislation when it reaches his desk before deciding whether to sign it into law.
Despite questions in the House on the reason it would be necessary to form a trust that would last 360 years, the legislation passed by an overwhelming 105-12 margin.
"I am not so sure it makes any sense whatsoever to be talking about having a trust for 19 generations or longer," said Rep.
House Judiciary A Chair
In general, though, current
Under the bill heading to the governor, a trust on property could last for 110 years. But a trust for assets, such as money and investments, would be allowed to last 360 years.
Trusts generally make it easier to avoid paying taxes on assets and property.
Various groups that deal with trusts and estate planning, including banks, have been advocating the proposal.
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