Providing for future generations
Do you want to plan for the financial well-being of your children, grandchildren, great-grandchildren, and beyond? A Legacy Trust -- also known as a dynasty trust -- is an irrevocable trust designed to help protect your wealth and provide benefits for multiple generations of your family while potentially minimizing the impact of state, estate, and transfer taxes.
Crafting your Legacy Trust with flexibility
A Legacy Trust can be customized any way you choose. As the grantor, you can determine the extent of the trustee's responsibilities as well as how much control and access individual beneficiaries will have. You may also want to ensure your trust is flexible enough to meet changing circumstances over time. For example:
- The state where your Legacy Trust is prepared and administered changes its laws. Your trust may include provisions that allow for a change in situs or place of administration of the trust to another state with more favorable laws.
- One or more of the people you named in the trust to serve as trustee, or in an administrative or advisory capacity, are no longer able or willing to serve. The trust may allow for the removal or appointment of a trustee, trust advisor, investment advisor, or distribution committee member.
Our commitment to your legacy
As one of the oldest and largest national trust companies, Wells Fargo Bank has specific experience in the complexities of Legacy Trusts and can help navigate the varying state laws as well as every stage of the trust’s life cycle, from assessment to funding to implementation. Our specialists are dedicated to working with you and your legal advisors to help craft a plan that will serve your long-term wishes, and committed to building close relationships to support multiple generations of your loved ones. We can provide the following services for you and your family:
- Guidance and advice for wealth analysis and multigenerational planning
- Professional investment management that reflects your current goals and objectives and those of your beneficiaries tomorrow
- Objective and ongoing trust administration, including investing and managing trust assets, coordinating distributions to your heirs, keeping records, and completing tax reporting
- Specialized services designed to meet your comprehensive wealth management needs, from managing more complex specialty assets to transitioning or selling your family business
