Establish a well-crafted dynastic trust to protect your fortune

A dynastic trust spans multiple generations, so your fortune remains largely intact for your children, grandchildren and possibly other future descendants. In Florida, state law allows you to create a dynastic trust that spans the lifetime of your initial beneficiary, plus 360 years. When crafted properly by a seasoned estate planning lawyer, your assets are protected from beneficiaries’ creditors, poor financial decisions and other potential hazards while, at the same time, minimizing estate tax consequences.

At the Law Offices of Gregory W. Kabel, P.A., our attorney has the skills and knowledge you need for an effective estate plan. Attorney Kabel has been a dedicated estate planning attorney for three decades, bringing a wealth of knowledge and experience to the creation of your trust.

Benefits of a dynastic trust

Our tax system levies expensive penalties on large estate inheritances. Each time substantial assets change hands from one generation to the next, Uncle Sam has his hand out for a big piece of the pie through gift and estate taxes. The benefit of a dynastic trust is to minimize these transfer taxes, while creating an estate that continues to provide for future generations. Often dynastic trusts include a third party trustee who objectively manages the trust assets with any eye toward long term preservation. The trust provisions include specific instructions as to how much money may be distributed from the trust, to whom and when. This adds an additional layer of benefits to your loved ones by providing protection for spendthrift children and grandchildren from their creditors, predators (such as ex-spouses) and from themselves. Thereby providing a lifetime of security for your children, grandchildren and other loved ones from whatever life may serve up.

Popular dynastic trust arrangements

The beauty of a dynastic trust is its long-term potential. However, this lengthy period also offers many challenges which requires flexibility. There are many variations to a dynastic trust structure, including:

• Spendthrift Trust – A spendthrift provision is a common clause in dynastic trusts. It protects trust assets from the poor financial habits and bad decisions of a beneficiary and helps to keep them out of the hands of creditors.
• Generation-Skipping Trust – This arrangement allows you to minimize estate taxes on transfers to your loved ones who are removed by at least two generations, typically grandchildren.
• Life insurance Trust – By naming your dynastic trust the beneficiary of your life insurance death benefits, your beneficiaries can further minimize estate taxes and enjoy additional protection from creditors and ex-spouses.

Contact an experienced Fort Lauderdale trust attorney today

Preserve your wealth and offer an enduring legacy to future generations with a dynastic trust. Call on the dedicated attorneys at The Law Offices of Gregory W. Kabel, P.A. for the meticulous and comprehensive trust and estate planning you need. We provide legal services in Fort Lauderdale, Wilton Manors and all of Broward County. To learn more in an initial consultation, call 954-761-7770, or contact us online.