What Is the Cost of a Living Trust in Canada in 2025?

January 8, 2025

Written by Ron Cooke, President & Founder of Strategic Wealth Protection Partners in Ontario

How much does a Living Trust cost in Canada?

Q: What is the cost of a living trust in Canada?

A: The cost of setting up a living trust in Canada typically ranges from $2,000 to $15,000 when done through a legal professional. This price depends on the complexity of your financial situation and the assets being placed in the trust.

Cost vs value of a Living Trust

The cost of setting up a living trust in Canada typically ranges from $2,000 to $15,000 when done through a legal professional.

While the upfront cost might seem significant, the long-term benefits—such as avoiding probate fees and reducing estate taxes—often outweigh the expense. A living trust provides peace of mind by ensuring your assets are managed according to your wishes.

👉 Read the Definitive Guide to Living Trusts in Ontario >

How much does a Living Trust cost in Ontario?

In Ontario, the cost of creating a living trust aligns with the national average, usually ranging from $2,500 to $15,000.

Factors such as the type of trust, the complexity of your estate, and the professional fees of your advisor can affect the final cost. Ontario residents may find living trusts particularly beneficial, as they help avoid probate delays and provide clear instructions for asset distribution.

Consulting with an experienced estate planner ensures your trust is tailored to your needs.

Schedule a Call with an Estate Planning Expert in Ontario

When is a Living Trust Worth It?

In my experience, a living trust is worth it when someone has significant assets they want to pass on to the next generation.

In addition, if they want control over how those assets are used, a living trust may be worth it. With a trust, you can ensure that your rules stay in place even after you’re gone. It keeps everything organized and administered according to your wishes.

A living trust also offers the ability to defer taxes on future gains. Once assets go into the trust, the tax on them can be deferred until death, which can help extend the tax benefits into the next generation.

Who benefits most from a living trust?

One of the most common scenarios I see is when someone wants privacy or creditor protection.

A trust is a separate legal entity, so when you transfer assets into it, they’re no longer owned by you personally. If someone sues you, those assets are protected—they’re not part of your estate. And because they’re not part of your personal estate, they don’t go through probate either.

Who needs a Living Trust?

A living trust is ideal for individuals who want to simplify the management and distribution of their assets.

It’s particularly useful for those with significant assets, multiple properties, or dependents with special needs. Business owners, individuals with blended families, or anyone wishing to avoid probate fees and delays should consider a living trust. This tool ensures your financial legacy is protected and your loved ones are cared for.

Who doesn’t need a Living Trust?

Not everyone requires a living trust.

If your estate is straightforward, with few assets and no complex distribution needs, a simple will might suffice. Those without significant assets or dependents may find the cost of creating a living trust unnecessary. Additionally, in provinces with simplified probate processes, the benefits of a living trust might be less impactful.

Consulting a professional can help determine if a living trust aligns with your personal and financial goals.

Key Differences Between Trusts in the US and Canada

Trusts can be an excellent tool for estate planning. But it’s important to note that they function differently in Canada compared to the United States.

If you’re considering setting up a trust or exploring your options, it’s essential to rely on information tailored specifically for Canadians.

Many online resources about trusts are US-based, which may not align with Canadian laws and practices. To ensure you’re making informed decisions, seek guidance from local experts or trusted Canadian sources. Additionally, keep in mind that tax laws vary by province, so it’s crucial to consider regional regulations when establishing a trust.

With the right advice and preparation, trusts can be a valuable way to secure your legacy and protect your assets.

Case Study: How Bill Protected His Children’s Inheritance Through a Trust-Based Estate Plan

The Problem

Bill, a 55-year-old real estate investor, reached out to SWPP after reading about living trusts online.

His concerns were deeply personal: his health was declining due to a serious, degenerative condition, and he was in a second relationship. Bill wanted to ensure that his investment properties went to his children, not to his common-law spouse. (He was leaving other assets to his wife.) He had assets valued at about $4.5 million including three condos and a duplex as well as some non-registered investments.

However, his children were minors, and there wasn’t enough cash in his estate to cover the potential tax liabilities that would arise upon his death.

Without a clear plan, there was a real risk that his wishes wouldn’t be respected—and that the cost of taxes could force the sale of key assets.

In addition, if he left everything to his spouse, it’s possible that his children would receive nothing. He wanted to make sure that didn’t happen.

The Solution

I proposed a structured solution to achieve Bill’s goals and manage the estate efficiently.

The first step was to transfer the investment properties into a corporation. This centralized the assets and created a clean structure for ownership and tax planning. Next, the shares of that corporation were transferred into a trust, with Bill’s children as beneficiaries.

A trust was essential because minor children cannot directly own assets.

The trust allowed a trusted individual—Bill’s brother, acting as trustee—to manage the assets according to detailed instructions set out by Bill.

This structure offered several advantages:

Minors cannot legally own property, but a trust can hold assets on their behalf, managed by a trustee.
A trustee was appointed to manage the assets according to detailed instructions laid out by Bill.
Through the trust, Bill could control how and when his children would benefit from the assets—even after his death.
The structure clearly separated the investment properties from his primary residence, which he intended to leave to his spouse.

Why It Worked

This plan worked because it addressed the core challenges which included:

protecting the inheritance for minor children,
excluding non-intended beneficiaries,
providing a clear path for ongoing asset management.

The use of a corporation allowed for efficient control of the properties. Meanwhile, the trust provided the legal authority to carry out Bill’s wishes without needing to transfer ownership directly to minors.

Importantly, this structure also helped plan around probate and tax issues, reducing the risk of forced property sales.

The Outcome

For Bill, the emotional relief was immediate.

Knowing that his estate was structured exactly the way he wanted gave him peace of mind during a very difficult time. With his brother as trustee and everything legally documented, Bill was able to rest easy. He was confident that his children’s future was secure even as he struggled with his own health issues.

For Bill, it was a breath of fresh air to know that everything was covered. The planning process created a financial structure. But more importantly, it reduced stress and gave Bill a sense of control in a situation that felt increasingly uncertain.

*Names have been changed to protect the identity of SWPP’s clients.

Discover the Benefits of a Living Trust in Ontario

Are you an Ontario resident considering a living trust as part of your estate planning?

At Strategic Wealth Protection Partners, we’re here to guide you through every step of the process with expert advice and personalized support. Begin your estate planning journey today with a Living Estate Plan Consultation from our experienced team.

Our mission at SWPP is to help you create an estate plan that secures your legacy, shields your assets from unnecessary taxation, and ensures your loved ones are cared for. By designing a living trust tailored to your goals, our experts will help you build a plan that truly reflects your values and priorities.

Take control of your future—start planning today!

Schedule a Living Estate Plan Consultation

Planning your legacy is about more than numbers—it’s about ensuring your family remembers you and your values are honoured for many years to come.

Estate planning and trusts can feel overwhelming, especially if it’s your first time. That’s why we’re here.

With our simple, 5-Step Living Estate Plan, we make the process easy, helping you create a comprehensive estate plan or trust that protects your assets from taxes and probate fees while preserving your legacy. Tools like The Final Word Journal capture your story, wishes, and essential details like accounts and end-of-life plans, ensuring your family has clarity and comfort.

Take the first step today—schedule a consultation call and give your family the ultimate gift: peace of mind and the assurance they were always your priority.

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About the Author

RON COOKE, PRESIDENT & FOUNDER OF STRATEGIC WEALTH PROTECTION PARTNERS

With over 30 years in financial services, I’ve seen the challenges families face when a loved one passes—lost assets, unnecessary taxes, and emotional stress. That’s why I created the Living Estate Plan, a comprehensive process to protect assets, eliminate estate and probate fees, and create legacies that are remembered for many years to come.

This plan ensures your family receives not just your wealth, but a meaningful reminder of your care and love. Tools like The Final Word Journal capture your story, wishes, and essential details, offering clarity and comfort during difficult times.

Your final gift should be more than money—it should be peace of mind, cherished memories, and an organized estate.

Speak with Ron