Yes, a trust may be given perpetual trust
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As of August 2010, Peter "Bucky" Greenough, Jr. is still alive. Born on June 29, 1961, Bucky was diagnosed as severely autistic. He eventually had to be institutionalized in early 1967, and has been so ever since. Beverly Sills left money in a trust for his perpetual care. (Information confirmed by Sills family members).