Dynasty Trust Template Form

Instructions and help about parties in a dynasty trust

Welcome to WCS Money Tutorials. Today’s topic is  a quick summary of dynasty trusts, which may save   wealthy taxpayers millions, maybe even billions,  of dollars of gratuitous transfer taxes. A trust is a legal entity that holds and manages  property of the grantor, who creates the trust. The trust is created when  property is transferred to it. A trust is managed by a trustee,  who is often the grantor, but may   be a corporation or other type of business. A revocable trust is controlled by the grantor   and can be changed at any time by the grantor. An irrevocable trust is managed by the trustee   ing to the trust document  used to create the trust.   However, the grantor maintains dead hand control  over the trust through the trust document. All   dynasty trusts are irrevocable trusts since the  grantor eventually dies or may already be dead. A trust is often used for estate planning  because it allows dead hand control   and avoids the high cost and time