Written by Ron Cooke, President & Founder of Strategic Wealth Protection Partners in Ontario
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.
*Names have been changed to protect the identity of SWPP’s clients.
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.
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!
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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.
Read More
If you’re starting your estate planning process, you may find these articles helpful:
- How Does a Living Trust Work in Ontario?
- Living Trust Ontario Guide: What It Is & Do You Need One?
- Can I Put My House in a Living Trust in Canada?
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.
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