Explore Dynasty Trusts in Our Latest Newsletter

In our latest newsletter, we delve into the intricacies of dynasty trusts. If you have a high net worth, this is one of the best ways to protect your family and transfer your estate. However, setting one up requires considerable financial and estate planning knowledge. 

What Is a Dynasty Trust?

A dynasty trust provides long-term wealth management and asset protection for multiple generations within a family. Because they are irrevocable, amendments cannot be made after setting the terms. Unlike traditional trusts, which typically have limited durations, these trusts allow assets to be passed down to successive generations without being subject to estate taxes or creditors’ claims. By leveraging the power of compounding and tax-deferred growth, dynasty trusts accumulate significant wealth over time. For this reason, they provide financial security and opportunities for future descendants to come. 

Example of a Dynasty Trust

Dynasty trusts have preserved wealth and fostered a lasting financial legacy for many affluent families throughout history. A notable example is the Rockefeller family dynasty trust, established by John D. Rockefeller, who founded the Standard Oil Company in 1870. Since then, this family’s utilization of dynasty trusts has made them one of the world’s most prosperous and enduring family dynasties. 

Adoption and Dynasty Trusts

Dynasty trusts establish a long-term financial legacy for multiple generations. This approach ensures that wealth remains preserved and transferred within the family lineage over many lifetimes. In cases where the beneficiary lacks descendants, other family members become the heirs. However, if the beneficiary desires someone else to inherit, they may adopt that individual to designate them as a descendant.

Want to Learn More About Trusts? We Can Help!

Dynasty trusts are potent tools for preserving family wealth, promoting financial stability, and fostering a lasting legacy across generations. A team of experienced estate planning attorneys should create and fund a dynasty trust. Here at Law Stein Anderson, we can explore all options available to protect your legacy and help you decide which trust is right for you. Contact us today to schedule your complimentary consultation.