• Beneficiaries have limited access to assets. “Dynasty trusts are set up to allow discretionary distributions, which means the assets remain in the trust unless the trustee allows them to be distributed,” Sandle said.
• “Since a dynasty trust is used to provide a trust for many future generations, it can cause friction with the next generation possibly not being able to access all of their parents’ wealth,” Panebianco said. “Deciding whether to transfer more to trusts, and how to do it, can be a complex discussion.”