HomeFAQ'sAre Dynasty Living Trusts Defensible?

Are Dynasty Living Trusts Defensible?

Dynasty’s living trusts sit at the intersection between online stationery stores (how we characterize every online provider that exists today) and a full blown law firm experience. Our offering goes far beyond the trust creation workflow of online stationery stores that sell you a template and require you to notarize and store your plans separately. However, unlike a law firm, we are not providing any legal advice.

Dynasty Cloud enables you to remotely create, sign, notarize, and store your trust documents. Additionally, we allow you to come back, visualize your plan, and make changes as life events occur. This entire process is necessary for creating a defensible and up to date living trust.

The final step of the process in making your trust defensible is transferring assets into your trust. For more on that process, please see our article on transferring assets.

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What is a Trust?

A Living Trust is a financial tool that lets you plan, organize, and protect your life. It’s a personal entity that allows you to add assets and plan out your inheritance. Eliminating legal battles, cost, and time spent by your loved ones. 

Think of it like a personal LLC that you put everything you own in. Except it doesn’t protect you from liability like an LLC does, it protects you from probate and conservatorship. 

Probate is the complicated court process (12-18 months) where a judge decides what happens to your assets after you die, become incapacitated, or are “deemed” incapable. Creating a living trust allows your assets to completely circumvent probate and immediately transfer to your loved ones. 

In addition to being able to name heirs (your beneficiaries), a Trust also allows you to assign someone to manage it (your successor trustee). Instead of going through probate, your Successor Trustee takes control of the Trust, handles your affairs, and distributes your assets according to your instructions. The person you select as Successor Trustee should be your most trusted person. Like a best friend or closest family member.

At Dynasty, we believe everyone should have a Living Trust. If you have children, assets, or plan to acquire assets in the future, you should create a Trust. That way when you buy your next home, open a bank or brokerage account, get startup shares, etc. – you can immediately title them in your trust.