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Thankyou for taking the time to share your knowledge with us. You have the gift of explaining so those of us without your back ground can understand. Matt
1. Hello Ellen, thanks for wonderful video. I have a living trust that I want to convert to Dynasty trust. Can I convert or need to dump this one and start a new one? 2. Is Dynasty trust, revocable or irevcabe? 3. If I distribute money in trust over life time, what is the advantage to convert living trust to dynasty btrust?
@Golestaan I’m glad you like the video! A Dynasty Trust, which is typically an irrevocable trust, is also called an “asset protection trust,” and it is difficult in California to do asset protection for oneself. I suggest you consult with an asset protection attorney if you want to create a Dynasty Trust for yourself.
Hey Ellen, what are some things you can do to help keep athletes protected longer than three generations? Is there anything you can do to pass along and protect assets after the dynasty trust expires?
Please see my video on income taxes for special needs trusts - the payment of income taxes should work similarly I don’t deal with statutory trusts (they’re not very common in CA) so I really can’t compare the two.
Thank you for sharing this information but i am really lost and not understanding exactly what the various trusts mean. I think it would be helpful to give more concrete examples.
Here is a video where we break down the different types of trusts out there: Types of Trusts - Which Option is Right For You? ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-lmeEg8PjuRw.html
