I wrote in my last post about using an asset protection trust to protect a specific beneficiary who might have need protection, for example from a substance abuse problem. Sometimes we implement multigenerational trusts not to protect against the problems of a specific trust but to provide a management or tax planning structures for family wealth. This is what is commonly called a “Dynasty Trust”. Such a trust is one that continues for the maximum term possible. There can be estate tax advantages to such a trust.

My friend Steve Hartnett, the Director of Education for the American Academy of Estate Planning Attorneys has written a helpful blog post which illustrates the estate tax benefits of this kind of planning. I think it’s worth a read. Read on to learn more.

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Mark Costley

Attorney and Founder at Clarity Legal Group®

With more than 30 years’ experience in private practice, Mark Costley has helped hundreds of North Carolinians with estate planning, living trusts, financial law, probate, and trust administration. Mark’s work involves elements of teaching, strategic analysis and planning, documentation, and assisting clients in implementing their plan Read More!

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