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What is a Living 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.

Why do you need one?

Creating a Trust is for your family, not for yourself. We believe everyone should have a Living Trust. If you have loved ones, assets, or plan to acquire assets, you should create a Trust. Having one allows your assets to pass to those you care about most without court involvement, legal fees, and taxes.

How does Dynasty help?

Dynasty makes the process to create a living trust simple, digital, and free. You can easily add your beneficiaries, assign assets, and execute your trust with our modern day workflow. Our platform makes it easy for you to make updates as your life evolves.

Why should you setup a Living Trust?

  • Avoid Probate: A living trust allows your estate to avoid the time-consuming and costly process of probate after your death. This means your assets can be distributed to your children more quickly and efficiently.
  • Control Over Asset Distribution: With a living trust, you have greater control over when and how your children receive their inheritance. For instance, you can specify they only receive certain assets when they reach a particular age or milestone, like graduating from college.
  • Privacy: Unlike a will, which becomes part of the public record once probated, a trust is a private document. This can protect your children from unwanted solicitations and maintain the privacy of your family affairs.
  • Protection Against Legal Challenges: It’s generally harder for disgruntled relatives or creditors to challenge a trust compared to a will, providing more protection for your children’s inheritance.
  • Tax Benefits: Depending on the size and complexity of your estate, a living trust can also offer tax advantages, potentially preserving more of your wealth for your children.
  • Guardianship Provisions: If your children are still minors, your living trust can include instructions for their care and the appointment of a guardian, ensuring they’ll be cared for according to your wishes. (Coming Soon)
New mother needing a Trust

“Being an estate attorney for the past 12 years, I’ve seen millions of dollars lost due to court challenges and lost documents. I highly recommend using a platform like Dynasty to notarized and store your documents safely.”

Domenic Scire – Estate Planning Attorney, San Jose, CA

Dominque Scire Review

“I converted my paper trust to Dynasty because it needed updating and I didn’t have time to go through it all again manually. Also didn’t feel like paying the fees. This was so much easier and was able to get it done while on my morning walk to work. Most seamless legal experience I have ever had.”

Richard Smith – Regional Field Director, New York, New York.

richard

“I’ve been putting off creating a trust for years because of how painful and expensive the process is. I needed a trust because my startup stock doesn’t allow me to name a beneficiary. Pleasantly surprised by how fast and simple it is with Dynasty. Highly highly recommend.”

Michael Collins – Sr. Strategic Customer Success Manager, San Francisco, CA
michael

“Very surprised by how simple this was and how the process only took a few minutes to setup. The questions were broken down in plain English and made me realize everyone should start a trust as early as possible. The earlier you start the easier it is.”

Gianpiero Scire – Senior Director of Operations & Enablement at Carta, Salt Lake City, UT
gianpiero

“I did this the old way and was shocked by how hard and expensive it was. Dynasty removes all the paperwork and makes it effortless. Took me less than 5 minutes. One of the best new products I’ve used in a long time.”

James McGillicuddy – CEO & Cofounder at BRM, San Fransisco, CA.

1581399722713
0 %
Of people do not have a plan for their legacy.
$ 0 B
Lost anually in taxes and legal fees alone.
$ 0 B
Lost anually to the government from unclaimed estate assets.
0
Hours spent on average by your family when you do not have a plan.
Protect yourself from all of these issues in 5 minuteswith a free Digital Living Trust.

Benefits of using Dynasty Trusts

Why you should use our platform

Simple process

Our trust wizard allows you to create a trust with a seamless guided workflow that requires no preparation. Then our team remotely notarizes and stores your trust.

Visualization

Never waste time reading through complex Trust documents to remember your elections. Our dashboard will summarize all of your critical details and assets into one easy-to-follow page.

Secure & safe storage

Your trust documents are stored digitally using advanced encryption and your physical documents are storaged in bank grade fireproof vaults. Never worry about losing your three-ring binder again.

Free creation & download

We will create your Trust document for you for free! You only pay us a small fee if you want additonal features from Dynasty Advantage such as notarization and storage.

Fully remote execution

Our Trust process takes you from start to finish, allowing you to remotely create, notarize, and store your living trust. No need to worry about expensive legal fees, finding a notary, or buying a safe deposit box.

Easy updates

Your living trust is constantly changing and can be expensive to adjust. With Dynasty Advantage you can make updates to your Trust with just with a few clicks and save up to $1000 every time.

FAQ's

A Living Trust is a personal entity that you put your assets into. 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, it protects your assets and heirs from probate.

Probate is the expensive and complicated (12-18 months) court process where a judge decides what happens to your assets when you die or become incapacitated. Creating a living trust allows your assets to completely circumvent probate and seamlessly transfer to whoever you want.

In addition to being able to assign who you want to inherit your assets, 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 and distributes your assets per 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 needs a Living Trust. If you have assets today, or plan to acquire assets in the future, you should create a trust. That way when you buy your first house or get startup shares, you can immediately title them in your Trust and never be left unprotected.

Probate is the court facilitated legal process that takes place if you don’t have a defensible living trust in place at time of death. This process can take anywhere from 9 to 18 months and cost you up to 10% of the total value of your estate in court fees and attorney costs. 

The process determines:

  1. Who your heirs/ beneficiaries are
  2. What assets you have
  3. How much your assets are worth
  4. Who will handle your financial responsibilities (selling your property, transferring your estate, and honoring your financial obligations)

 

It is estimated that ~3 billion dollars are lost by Americans in probate fees every single year, and a majority of that goes to attorney fees. The good news is that creating a living trust can help you avoid this. Living trusts detail specific instructions for your estate which get carried out by a designated successor trustee. This allows your estate to be transferred without court intervention.

To create a trust you will:

  1. Go through Dynasty’s simple online workflow to gather your details and generate your digital living trust.
  2. Schedule time with one of our online notaries to virtually sign and notarize your trust.
  3. We will provide you with a digital copy and securely store the original notarized document in a bank level vault. 

Most online trust providers only take you part of the way by selling you a trust template. Lawyers will take you the entire way but in most cases still don’t want the burden of securely storing your physical documents. Dynasty Advantage will not only help you create your documents, but we also enable you to remotely sign and notarize them as well. Then we physically and securely store your living trust for you. 

Safe storage is an essential part of the process because a trust is only valid if it can be furnished when necessary. If trust documents are lost or damaged, then all the steps you took to properly prepare your estate plan are moot. Dynasty takes the burden of storage away from you and ensures that the right people will be given access to your trust if events call for it.

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.

For most, the answer is probably not. Today you can go into any online/offline stationary store and purchase a living trust template. Then you just need to fill it out, sign, notarize and store it securely. As events happen in your life (asset purchase, child’s birth, marriage, etc) you would open the template and fill out all the details again, including any updates. Then again you would need to sign, notarize and store it securely.

The trust process is trivial for most people as it primarily requires assigning beneficiaries and transferring title of your assets from your individual name to your living trust. For anyone that is seeking legal advice or has an overly complicated estate, an attorney is highly recommended.

Remote notary legislation currently exists in many states and includes many changes enacted during the covid-19 pandemic due to social distancing requirements. This allows Dynasty to take advantage of state specific notary laws to ensure that your living trust can be legally and fully remotely notarized in all 50 states. The process involves online video conferencing and multiple methods of identification. At Dynasty we believe that remote notary is the future and are making it a core offering of our business.

When it comes to naming who you want to inherit your assets, most people think of creating a Will. But creating a Living Trust actually has huge advantages. We break down the differences for you below.

A Will is a document that describes who you want to inherit your assets after you die. After you die, your Will is interpreted by a judge during a public process known as probate.

 

On average probate takes 12-18 months and can be expensive with court and lawyer fees. This is made even worse if you have family and friends fighting over your assets. The longer they fight, the more your assets get devoured by legal fees.

A Living Trust is a simple personal entity that you put your assets into. In addition to being able to assign who you want to inherit your assets, a Trust also allows you to assign someone to manage it (your successor trustee).

A Living Trust allows you to completely circumvent probate and make transferring your assets private and seamless. Think of it like a personal LLC that you put everything you own into. Except it doesn’t protect you from liability like an LLC, it protects your heirs from probate. Instead of going through probate, your successor trustee takes control of the Trust and distributes your assets per 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 that having a Living Trust should be a basic American right, and that it shouldn’t require money or lawyers. So we’ve made it simple and free for everyone. Create your free trust today and never leave your loved ones unprotected.

Dynasty living revocable trusts do not have an impact on your taxes and do not make things more complicated. You will continue to report your income the same way you did before.

While a living revocable trust is a separate legal entity from you as an individual, it is not a separate tax entity. This means that the trust’s income is still considered your personal income for tax purposes, and you will need to report it on your personal tax return. As the grantor (creator) of the trust, you will typically continue to pay taxes on the income earned by the trust, in the same way that you would if the assets were held in your own name.

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. 

Why should I have a Living Trust?

At Dynasty we believe everyone needs a Living Trust. If you have loved ones, assets, or plan to acquire assets, you should create a Trust. Having one allows your assets to pass to those you care about most without court involvement, legal fees, and taxes. 

A big advantage to having a Living Trust is avoiding probate. 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. ~2 billion dollars per year gets lost in probate and attorney fees. Another ~2.4 billion is lost to the government as unclaimed estate property. All because people don’t have a simple Living Trust.

A Living Trust can also help to reduce estate taxes. Depending on the size of your estate, a significant portion of it may be subject to estate taxes when you die. A Living Trust can help to reduce the value of your taxable estate, which saves your loved ones money.

The earlier you create a Living Trust, the better. That way when you buy your next home, open a bank/brokerage account, get startup shares, etc. – you can immediately title them in your Trust. This saves you time/money from needing to go back in time and retitle your assets because they are already held in trust from day 1.

How does Dynasty help?

Dynasty makes the process to create a Living Trust simple, digital, and free. You can easily add your beneficiaries, assign assets, and execute your Trust with our modern day workflow. Our platform makes it easy for you to make updates as your life evolves.

The traditional process for creating a trust is antiquated and broken. Paper with signatures is your last line of defense to prevent malicious behavior from a successor or challenges from a disgruntled beneficiary. Due to this lack of protection, trusts are often challenged, administered incorrectly, or sent to probate court.

One of the big advantages to using Dynasty is our modern day protection process. We provide technology that enables multiple layers of identification and evidential proof, which combine to validate your plan in case any person or entity tries to challenge it.