Nine new millionaires are minted every minute in the United States, according to figures from the Federal Reserve. There are now nine million households with a net worth of $1 million or more, including many households with $5 million to $25 million.

Many of these new millionaires are baby boomers. Like the Depression-era generation, many of today’s affluent boomers are thinking about how they can use their wealth to leave a financial legacy for their families. They are gravitating to dynasty trusts to accomplish what are often multiple-generation wealth transfer goals.