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What information do I need to setup a Living Trust?

Most people think that creating a Living Trust is a complicated process – and they are 100% correct based on the process that exists today (lawyers & DIY software). But the fact is, you only need 4 inputs to create a living trust. The only required inputs are to list at least 1 trustee, 1 successor trustee, 1 asset, and 1 beneficiary.

Definitions below:

Trustee: 

A person or entity that has legal ownership of the assets held within a Trust.

Successor Trustee: 

A person or entity that will assume management of the Trust and it’s assets when the original trustee is deceased or incapacitated. The Successor Trustee’s job is to carry out the wishes of the original Trustee which are detailed in the Living Trust.

Asset: 

Physical and digital properties that you own. 

Beneficiary: 

A person or entity that will inherit your assets in the event you are deceased or incapacitated.


At Dynasty our mission is to remove all friction involved with Trust creation. Because not having a Living Trust is exponentially worse than having a Living Trust with limited details. Our platform allows you to create a Trust in less than 5 minutes, and you can fill out the rest of the details later at your convenience. We built Dynasty this way intentionally because your Living Trust should evolve over time as your life changes.

The remaining details which are not required but important for creating a defensible Living Trust are to also provide an extensive list of your assets. This list should include any real estate, business interests, stock investments, bank accounts, crypto, NFTs, collectibles, jewelry, and anything else that you deem valuable.

Once your assets are listed, the last step after you’ve signed, notarized, and stored your Trust is to transfer ownership of your assets into your Trust. Please reference our help article titled “Transferring Assets into your Living Trust” for more details on this process..

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Related Articles

What is a Trust?

A Living Trust is a financial tool that lets you plan, organize, and protect your life. It’s a personal entity that allows you to add assets and plan out your inheritance. Eliminating legal battles, cost, and time spent by your loved ones. 

Think of it like a personal LLC that you put everything you own in. Except it doesn’t protect you from liability like an LLC does, it protects you from probate and conservatorship. 

Probate is the complicated court process (12-18 months) where a judge decides what happens to your assets after you die, become incapacitated, or are “deemed” incapable. Creating a living trust allows your assets to completely circumvent probate and immediately transfer to your loved ones. 

In addition to being able to name heirs (your beneficiaries), a Trust also allows you to assign someone to manage it (your successor trustee). Instead of going through probate, your Successor Trustee takes control of the Trust, handles your affairs, and distributes your assets according to your instructions. The person you select as Successor Trustee should be your most trusted person. Like a best friend or closest family member.

At Dynasty, we believe everyone should have a Living Trust. If you have children, assets, or plan to acquire assets in the future, you should create a Trust. That way when you buy your next home, open a bank or brokerage account, get startup shares, etc. – you can immediately title them in your trust.