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Posts tagged "misbehaving sucessor-trustees"

Why Dynasty Trusts are Usually a Bad Idea -- Dissolve that Trust!

Buffington Law Firm's California Trust Litigation attorneys have handled numerous cases involving so-called "Dynasty Trusts" as well as alternative forms of estate plans similar to these.  A "Dynasty Trust" is an estate plan in which the trust does not simply distribute assets, wind up, and dissolve when the trustors pass away --the way wills usually work.  Instead, the trust is set up to live on for an indefinite period after its creators die, retaining most assets of the estate in the trust, and usually paying mainly income only to the beneficiaries.  This type of trust is designed to control the beneficiaries even after the trustor passes away.  Perhaps the trustors believed that their children are irresponsible with money.  Lawyers sometimes call this type of scheme "dead hand control" as the "dead hand of the past" is controlling the trust, its assets and income, and thereby the beneficiaries.

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