Dynasty trust

{
  "id": "MLC-T-LAW-001791",
  "term": "Dynasty trust",
  "field": "Law",
  "definition": "A type of irrevocable trust designed to hold assets for multiple generations, often for the benefit of grandchildren and future descendants, while minimizing estate and generation-skipping transfer taxes. This trust structure aims to preserve wealth within a family over an extended period. It is subject to the rule against perpetuities in some jurisdictions, limiting its duration.",
  "url": "https://mlchart.com/terminology/law/dynasty-trust/"
}