What Is a Dynasty Trust in Tennessee?

There are many different ways to leave behind a legacy for your family. If your estate is considerable, you may want to explore some of these options. There’s nothing wrong with taking your time to consider every avenue available to you, especially when it comes to leaving something behind for your loved ones. One such way is through a dynasty trust. You may be asking: What is a dynasty trust in Tennessee? In short, it’s a long-term way to preserve your estate.

Before you consider establishing a dynasty trust, you should reach out to a Tennessee trust attorney to learn more about the details and benefits of creating one. Such a decision should not be taken lightly, and a lawyer experienced with trust law and trust cases can help you determine if this is the right direction for your estate plan. Above all, you should hire a trust lawyer to provide you with the right kind of answers. We can help you with that.

Why Should You Hire a Trust Lawyer?

Establishing a trust takes effort, commitment, and know-how. You will want someone with experience handling all sorts of trusts in order to ensure your trust is done correctly and in accordance with your wishes. Shanone Emmack has provided quality legal help to countless clients across Tennessee. She’s an active member of the Tennessee Bar Association and can provide your case with a personalized, focused approach.

According to statistical data collected by the U.S. Census Bureau, the median household income throughout the state of Tennessee was roughly $67,000 as of 2023. Additionally, the overall population of the state as of 2025 was about 7.3 million people, according to World Population Review. Many of those people may be considered somewhat affluent and might want to create an estate plan that includes a dynasty trust, among other possible protections.

As you consider the most appropriate way to preserve your family’s future using your estate, consult a skilled trust lawyer to help you communicate your intentions clearly. This ensures your wishes are known to avoid conflicts and prevents the state’s intestate succession laws from overriding your plans.

What Is a Dynasty Trust in Tennessee?

Simply put, a dynasty trust is a form of irrevocable trust that is designed to transfer assets and wealth across multiple generations while simultaneously avoiding many state taxes. By developing a dynasty trust, you are able to hold certain assets in trust for the benefit of your descendants instead of your immediate family. Thanks to the state’s laws regarding long trust durations, you may be able to hold this trust for centuries.

The goal of a dynasty trust is to preserve generational wealth, maintain family businesses, minimize the tax burden, and ensure that the grantor’s values are wholly preserved for generations to come.

The Benefits of a Dynasty Trust

A dynasty trust provides significant benefits to your estate plan, many of which involve avoiding future estate taxes. You should consider all the potential benefits of deciding to implement a dynasty trust into your own plan. Here are some of those benefits:

• First and foremost, a dynasty trust allows you to avoid multiple tax events that would occur if you left your estate to your family the traditional way. If you leave a large amount to your children, that amount would be subject to estate tax upon your death. Then, that would occur once again when they leave it to their children. A dynasty trust lets you avoid long-term estate taxes.
• Additionally, a dynasty trust preserves your assets long-term. Dynasty trusts can be structured to protect your assets from any creditors of either you or your beneficiaries. It can even protect certain assets from being claimed in a divorce or from bankruptcy.

FAQs

What Is the Purpose of a Dynasty Trust?

Generally, the purpose of a dynasty trust is to preserve generational wealth across decades or even centuries while simultaneously avoiding many estate and gift taxes. Additionally, dynasty trusts allow for long-term asset protection while letting grantors control how their assets are distributed over generations. If you are interested in creating a dynasty trust, you should reach out to a trust lawyer.

What Is the Difference Between a Dynasty Trust and a Regular Trust?

The main difference between a dynasty trust and a regular trust is the duration and tax benefits. Dynasty trusts are structured to last for generations and be available for beneficiaries decades or even centuries from now. Regular trusts generally end with the death of the grantor, and also do not provide the kind of tax protections and advantages that dynasty trusts do.

What Are the Drawbacks to a Dynasty Trust?

While establishing long-term protections through a dynasty trust can be exactly what you need, the process is not without its potential drawbacks. For example, the process is fairly inflexible. A dynasty trust is a form of irrevocable trust. This means that once it is established, nobody can easily change the terms of the trust, not even the grantor. If circumstances change, it can be very difficult or even impossible to change the dynasty trust to reflect new terms.

Do I Need an Estate Planning Lawyer to Establish a Dynasty Trust?

Yes, it is highly recommended that you hire an estate planning lawyer in Tennessee to help you create a dynasty trust. Dynasty trusts are complex legal entities that have significant implications for asset protection, estate taxes, and future generational wealth. The last thing you want to do is make a mistake in the establishment of such a trust. The right estate planning lawyer’s help can make all the difference.

Contact a Dynasty Trust Lawyer in Tennessee Today

Shanone Emmack can help you create a dynasty trust that reflects your wishes, needs, and intentions. With her help, your estate can be fully protected. Reach out to Emmack Probate and Estate Law Group to speak to a valued member of our team to discuss your case.