what are the disadvantages of a dynasty trust 
individuals lose control of all assets within the trust because it is irrevocable additionally they cannot change the terms of the trust once it is created who pays taxes on a dynasty trust the grantor is responsible for paying taxes on a dynasty trust the beneficiaries pay income taxes if they receive income from the trust and generation skipping taxes are deferred until the trust terminates and the final beneficiaries receive the remaining assets the bottom lineindividuals with significant taxable assets in the estates benefit the most from dynasty trusts the dynasty trust becomes the asset owner so the assets are not included in the estate when the grantor dies in 2024 an individual can put up to 13 61 million in a dynasty trust 