522: What is a Dynasty Trust?

Aug 31, 2025

Steve Oshins, a leading estate planning attorney from Nevada, dives into the vital role of asset protection and estate planning for the wealthy. He emphasizes that failure to prepare can lead to devastating consequences for families. The discussion includes the intricacies of Nevada Dynasty Trusts, highlighting their advantages for tax avoidance and customization. Oshins also explores strategic asset protection in divorce scenarios and shares essential strategies for preserving wealth amidst evolving laws. This talk is a must-listen for anyone serious about safeguarding their legacy.

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ADVICE

Use An LLC Owned By The Trust

Place assets inside an LLC owned by the trust and appoint the manager (including yourself) to handle operations.
Use this structure when trustees should not manage daily business activities directly.

ADVICE

Use Non-Grantor Trusts To Reduce State Taxes

Create a non-grantor trust with no resident trustees from your home state to avoid state income taxes.
Ensure income isn't sourced to your home state (e.g., in-state real estate) to preserve the tax benefit.

ADVICE

Weigh Control Versus Tax Savings

Trade off direct control of a non-grantor trust for potential large state income tax savings on sales.
Decide case-by-case if losing control is worth saving ~13% (California) or similar taxes.

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One of the realities of building wealth is that the more you have, the more you have to lose. Asset protection and estate planning aren’t just legal technicalities—they’re essential parts of safeguarding everything you’ve worked for.

The worst time to plan is when you actually need it. If you wait until you’re facing a lawsuit, a creditor, or a sudden death in the family, it’s already too late.

Think of asset protection like insurance. Most of us wouldn’t drive without auto insurance or own a home without homeowners’ insurance. Yet many wealthy people operate businesses, hold investments, and build family wealth without putting legal structures in place to shield those assets. One lawsuit or one major life event can undo decades of hard work.

On the estate side, not having a proper plan doesn’t just cost money—it creates stress and hardship for your loved ones. Without a solid estate plan, your family could end up tied up in probate courts, fighting over assets, and losing valuable time and resources.

We’ve talked on this show before about basic steps everyone should take—like forming entities to protect your business or making sure you have not only a will, but also a living trust. Those are the starting points.

But as your wealth continues to grow, your planning needs to grow with it. High-net-worth families have to think about more robust strategies—things like dynasty trusts, asset protection trusts, and the best jurisdictions to set them up.

These aren’t just technical details. They’re the difference between wealth that gets preserved and multiplies across generations and wealth that gets chipped away by taxes, lawsuits, and poor planning.

To help us understand these tools at the highest level, I’ve invited perhaps the most respected attorney in this space—someone who is seen by other attorneys as the thought leader in asset protection and estate planning—Steve Oshins. Steve has pioneered strategies that are now industry standards, and his work has shaped how families across the country protect and grow their wealth. You’re going to want to pay attention this conversation closely.