Dynasty Trusts — No longer for the super rich?

According to Hillary Chura, Bequeathing, With Strings Attached, NYTimes.com, Jan. 5, 2008:

Once only for the superrich, dynasty trusts now provide a way for the rest of us to leave money to loved ones, preserve wealth for future generations and even control how an inheritance is used once donors die. ***

Setting up a trust can cost $2,000 to $20,000, depending on its complexity. As such, it may not make sense for, say, a $20,000 estate, but the final determination depends on the situation. People expecting to spend their entire $5 million portfolio before they die may not go through the exercise, while a couple with $50,000 may want to secure it in a trust for their daughter, keeping it from her husband in a bad marriage, said Kirsten L. Izatt, an estate planning lawyer in Wheaton, Ill. She said that even if people expect to use their entire estate before they die, they may want to consider a dynasty trust to shield any leftover money.***

Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.