[greglepore]

Sorta. You gift or leave the money to a trust, and the trustee is required to disburse income periodically (or some fixed amt which you hope is income plus a small amount). The trustee manages the principal.
However, a trust cannot go on "forever". There is the "Rule Against Perpetuities" which is almost impossible to explain here but sets a time limit on a trust-more or less a generation plus. On a tangent it was a key plot element in "Body Heat".