Creating a Dynasty Trust in WealthDocx RLT
Posted on Wed, Apr 07, 2010
The term "Dynasty Trust" means different things to different people. WealthDocx uses the term Dynasty trust to describe a GST Exempt multi-generational common trust for descendants that lasts as long as the rule against perpetuities will allow. This is one of the options for distribution of the Exempt Property when the mandatory division into GST Exempt and Non-exempt shares is selected.
Other individuals use the term dynasty trust to describe cascading individual trusts. This is also available in WealthDocx by selecting the option to leave the property to a beneficiaries descendants in cascading trusts.
Submitted by Lew Dymond, JD
WealthCounsel, LLC