Trusts & Estates
The Beneficiary Controlled Dynasty Trust
By: Steven J. Oshins, Esq., AEP (Distinguished)The Beneficiary Controlled Trust concept is fairly simple. It is a trust in which the primary beneficiary is either the sole trustee or co-trustee and has the ability to fire any trustee and select successor trustees. Typically, control of the trusteeship is coupled with a broad non-general power of appointment that can have the effect of eliminating any potential interference by remote beneficiaries. Because the primary beneficiary/trustee possesses the ability to eliminate all participation in the enjoyment of the trust assets by secondary and more remote beneficiaries, the latter will not be inclined to interfere because their rights could be eliminated.
To read more about Beneficiary Controlled Trusts, please complete the form below to access the full article.
To learn more about the benefits of a Beneficiary Controlled Trust, please fill out the form below.
Complete the form to get your free guide
Amending an Irrevocable Trust: The Dos and Don'ts of Decanting
Decanting irrevocable trusts is an increasingly popular planning strategy, but beware of the pitfalls, tax implications, and trustee fiduciary duties.Learn More
When the Irrevocable Trust No Longer Fits
Life comes at you fast. Learn 3 ways estate planning attorneys can modify an irrevocable trust and preserve client benefits.Learn More
Summary of 2017 Estate Tax Repeal Legislation to Date
With the estate tax repeal pending, get the info you need about stepped-up basis and incomplete grantor trusts, what it means for estate planning attorneys, and clients.Learn More