A trust doesn’t have to stop with your children or your grandchildren. If you so choose, your legacy can be passed on from generation to generation.
Creating a dynasty trust is well within the reach of many of our clients. Dynasty trusts are specifically designed to hold your assets for generations. While your beneficiaries may have access to income or even part of the principal from the dynasty trust you create, your assets are not directly passed to your beneficiaries. When held in a dynasty trust, your wealth continues to grow, and that growth is exempt from estate and gift taxes. Additionally, the assets held in the dynasty trust are creditor-protected and are not considered marital property in the event the beneficiary were to become divorced.
Dynasty trusts are a powerful estate planning tool and, when properly drafted and implemented, ensure that your wealth will continue to benefit your family for decades to come.
To learn more about dynasty trusts, you can read through this more detailed example. Or, call or email us to set up a time to talk through how we could build a lasting legacy for you and your heirs.