Cecil has addressed perpetual care funds for cemeteries, which raised the question for me:
How would I set up an entity so that my property taxes are paid in perpetuity?
For trusts and related entities, you’re pretty much at the mercy of the law firm which happens to be responsible. 100 years from now they may not be in business. 200 years from now, odds are they won’t be in business.
Any suggestions?
After you die, the property taxes will become the responsibility of whoever inherits or purchases your home. You don’t need to worry about setting up anything to take care of them, as it is no longer your concern.
On re-reading the OP, it appears you may be asking about your cemetery plot. You don’t say what country or state you are in, but I have never heard of such a thing. Are there actually some jurisdictions that assess property taxes on burial plots?
It seems unrealistic to try to set up a trust fund that will outlast financial institutions and withstand the great property-tax hike of 2167.
You could try to instill a sense of responsibility-towards-property-taxes upon your heirs, including some propensity for them to have responsible children of their own. Maybe write a beautiful and inspiring book on the joys of hetero sex and home ownership, and transitively require all heirs to read it as specified in your will.
I’ve also read that trusts can’t be set up to exceed the lifespan of someone now living. Something along the lines of “once the last of my grandchildren dies” or something like that. I forget where I read that, however.
That said, it’d be kind of cool if some municipalities had a plan where you pay, say, 100 x your current annual property tax and it’s set for the next 100 years. They get a cash infusion (which presumably they could invest), you don’t have to worry about your taxes for the rest of your life.
It was actually possible to do such a thing in Nevada between 1997 and 2005.
Unfortunately, all good things must come to an end.