WV HB2711

Extends the rule against perpetuities from 90 years to 1,000 years for trusts created on or after July 1, 2025, allowing property interests and powers of appointment to remain valid for up to a millennium

Treats all future interests created through chains of nongeneral or testamentary powers of appointment as if created at the time of the first such power, preventing manipulation to extend trust duration

Establishes a rule of construction presuming that transferors intended property interests to be valid under perpetuities rules unless a contrary intent appears in the instrument

Allows trusts to specify a shorter vesting period than 1,000 years if the trust terms expressly require beneficial interests to vest or terminate within a lesser timeframe

Takes effect July 7, 2025 (90 days from passage on April 8, 2025), and applies to powers of appointment created before that date only to the extent they remain unexercised