Thursday, November 07, 2013

Dynasty Trusts: Rename or Remarket?

Have you noticed? The trade name for very long-term family trusts seems to be changing from Dynasty Trusts to Legacy Trusts.

"Dynasty," it seems, reminds too many Boomers of the old prime-time TV soap opera, best remembered for Joan Collins' performance as Blake Carrington's evil ex wife. The Carringtons were hardly exemplars of family values.

The current TV hit, Duck Dynasty, doesn't help either. Too much hair.

Unfortunately, "Legacy Trusts" is an awkward substitute. The label could be attached to any trust extending beyond a trustor's lifetime. Besides, financial marketers have already borrowed "legacy" to stand for the handing down of family values: work hard…be kind…never draw to an inside straight.

Joan Collins
Wouldn't it be better to reburnish the luster of Dynasty Trusts? 

How can we make the name evoke less Joan Collins, more Queen Nefertiti?

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