A dynasty trust is a tool to protect someone of a younger generation from loss to creditors, the federal government, as well as spouses. It’s a specific tool that you would create. Oftentimes, a parent creates a dynasty trust for a child, or an aunt or an uncle creates one for a niece or a nephew. Instead of giving assets directly to the beneficiary, directly to the child, you give the assets instead to the dynasty trust. The child can eventually, at a certain age if they want, become a trustee of that trust. So, the child might exercise some control over investments or withdrawals, and the child is the only beneficiary. So, the child is the one who can receive the assets. But during the child’s lifetime, as long as the money stays in that trust, creditors have a really hard time breaking in. It’s very difficult for a creditor to break into a trust that you designed and created for another person. Also, it provides protection against loss from divorce. The money in that trust isn’t owned by the beneficiary, so it cannot mix with the beneficiary’s spouse, so it cannot be lost in a divorce. Less common is protection from estate tax. Money that you own at your death is going to be taxed by the federal government for estate taxes if you have more money than the available exemption you can give away for free. But money that goes into a dynasty trust most times is not taxed when the child passes away. So, you can think the money in the dynasty trust might double, might triple in value. It doesn’t mean anything to the government because you already paid the tax on it. Therefore, the child doesn’t have to because it’s a very specifically designed tax-driven trust.