A dynasty trust is a type of irrevocable trust designed to preserve and manage family wealth across multiple generations, primarily by minimizing transfer taxes like estate and generation-skipping taxes (GSTT).
Key features:
Long-term purpose:
Unlike typical trusts, a dynasty trust is structured to last for many generations, potentially in perpetuity.
Tax minimization:
The primary goal is to avoid estate, gift, and generation-skipping transfer taxes by keeping assets within the trust structure.
Asset protection:
Dynasty trusts can also serve as a tool to shield assets from creditors and potential divorce claims.
Irrevocable nature:
Once established, the grantor typically loses control over the trust assets, ensuring they remain within the structure for future generations.
Multi-generational focus:
Unlike standard trusts focused on one generation, dynasty trusts are designed to distribute wealth across multiple generations while minimizing tax implications.
Also called:
Sometimes referred to as a perpetual trust or multi-generational trust.

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