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Trusts & Estates

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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.

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