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Trusts: Dynasty Trusts
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What is the primary purpose of a dynasty trust?
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A
To provide for the financial security of the grantor's descendants over multiple generations.
💡 Explanation:
A dynasty trust is a type of irrevocable trust that is designed to provide for the financial security of the grantor's descendants over multiple generations. It is typically funded with assets that are expected to appreciate in value over time, such as real estate or stocks.