At a certain level of wealth, people are so far removed from what “their” money does that the whole thing largely runs itself. This kind of operation could largely run itself, so would anything stop a person in control of it while they live from issuing commands that take effect long after their death? Are there any hard and fast controls on this?
Shouldn’t there be an ecological niche for a kind of business that accomplishes certain tasks for you after your own death? Delivering flowers to a loved one after 10 years, making sure certain documents are delivered, etc? Is this kind of thing in some way illegal?
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So what you are describing is literally called a “trust”. Specifically, a testamentary trust, which is something set up that takes effect after death. Trusts can do a whole lot of things, but the sorts of things you’re talking about do happen. Money is set aside in a trust, and the trustee manages the trust after the person who funded it (the testator, also sometimes called the settlor) passes. Sometimes the trustee will receive some degree of compensation for their efforts. Anyone can be a trustee. A family member. A lawyer. A bank. A testamentary trust is basically some money or other asset carved out of the things left behind and put in a secure account to be used to fund a various purpose.
Are there limits? Some. Courts generally dissolve trusts if they functionally “lock away” the use of private property for substantial periods of time beyond the life of the testator. There’s an interplay between honoring the wishes of the deceased and recognizing that propery should be used for things. So some trusts that “hold up” the use of real property for significant periods of time can be voided. It’s called the rule against perpetuities. You can not put real property in a sealed trust “in perpetuity”.
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