Dynasty v. Revocably Living Trust

Q. How is a dynasty trust different from a revocable living trust?

A. Good question, a Dynasty Trust is irrevocable. Once assets are placed in it they can not be easily withdrawn. A Dynasty Trust is also a separate tax entity filing it's own return.

A revocable trust (Living Trust) can be changed at any time, assets moved in and out easily, and is taxed at your personal level (not a separate tax entity).

Really, they are designed for different uses. For your own assets you would typically look at a Living Trust so you have flexibility to make changes and probably aren't as concerned about protecting them from your creditors.

For money left to others, a Dynasty Trust presents certain benefits.

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