Usually, we see a trigger that causes families to take their estate planning seriously. It could be a personal health issue, the loss of a friend or relative, or a resolution to doing something that everyone knows needs to be done. “Why” a family develops an estate plan, and its broad goals and objectives, are often lost in the “how” of the estate plan – the mechanics which can be confusing and feel arbitrary to many families members. The objectives of one generation, i.e. tax minimization, may not be the objectives of future generations. With more and more families using dynasty trust provisions (which in Nevada allow trusts to last for 365 years), the goals and aspirations of the grantors of the trust are critically important. in this excellent article by Paul Sullivan of the New York Times, the trend towards Purposeful Estate Planning attempts to broaden the typical goals of estate planning into broader types of behaviors and experiences for beneficiaries which are supported by trust assets. If you have questions about your family’s estate plans or need to get started on one, call Alliance trust in Reno, Nevada at 775-297-4000 today.