Trusts are one of the most misunderstood vehicles in financial planning.

A trust is a distinct legal entity created to hold and administer assets on behalf of a set of beneficiaries. They can be a great way to reduce your tax bill at the end of the year and set aside a growing fund for your beneficiaries.

What is a Family Trust?

Family trusts are used by many Canadians as part of their legacy planning. There are two basic types of trusts: testamentary trusts and living trusts.

  1. In your will, you can set up a testamentary trust to administer portions of your estate and provide for your heir or heirs for their lifetime(s).
  2. With a living or “inter-vivos” trust, you can put assets aside for the benefit of your children, grandchildren, and/or other beneficiaries while you are still alive. This type of trust can help you monitor and guide the financial habits of your trustees without constant surveillance.

Our advisors will be there every step of the way, in developing a legacy plan, as well as in the creation of trusts for the next generations s of your family.

Things to Consider While Planning Your Legacy

When planning and managing your legacy with us:

  • We will communicate and collaborate with all your third parties to make sure your plan is well integrated and executable.
  • We’ll proactively offer solutions to address your family’s needs.

Establish trusts as needed based on your legacy plan and will.