North Carolina Estate Planning Blog
Dynasty Trusts Ranked - NC Doesn't Make the Cut
Nevada attorney Steve Oshins, who produces an annual ranking of Domestic Asset Protection Trusts, has now done the same for Dynasty Trusts. Dynasty Trusts can theoretically last forever, and are often used by wealthy families to avoid estate taxes and protect assets for future generations. Dynasty trusts are now permissible in the many states that have statutorily repealed the old common law rule against perpetuities, which limited trust terms to little more than the life of one generation.
North Carolina repealed the rules against perpetuities a few years ago, so dynasty trusts are allowed as long as the trustee has the power to alienate (sell) trust assets. However, NC law is otherwise not as desirable as that of the states listed in the chart.
205 Providence Road, Chapel Hill NC 27514
Phone: 919.493.6351 • Toll-Free: 800.201.0413 • Fax: 919.493.6355
firstname.lastname@example.org • www.trustcounselpa.com