What Are the Disadvantages of a Trust in Canada?
January 12, 2025
Trusts offer numerous benefits, such as avoiding probate, which can save time, reduce costs, and maintain privacy.
Trusts offer numerous benefits, such as avoiding probate, which can save time, reduce costs, and maintain privacy.
A living trust is a legal document that takes effect during your lifetime, allowing you to manage and distribute your assets without going through probate.
While wills are more common, the use of trusts is steadily growing in Canada, especially among individuals with significant assets or unique family dynamics.
Proper planning ensures more of your wealth passes to your loved ones while minimizing tax burdens.
In Ontario, estates valued over $50,000 generally require probate to confirm the executor’s authority to manage and distribute the assets.
Executors often find that the probate process can be both time-consuming and expensive. Planning strategies exist that may eliminate or reduce the requirement of having assets probated.
Explore these questions to know if you are financially ready for death. Learn essential end-of-life considerations.
For many Canadians, especially those with young families, term life insurance is most often the product of choice for protecting one’s family. The major reason for this is that it is the lowest entry-level cost to purchase life insurance.
It is important to have a valid Will to avoid the challenges of intestacy – dying without a Will. Indeed, eventually, everyone ends up with a Will of one sort or other…
What happens if you don’t come home tomorrow?
Most people don’t have any idea.
It shouldn’t be a surprise. Nobody wants to think about their death and who wants to spend money today to prepare for that depressing inevitability?
SWPP helps families and business owners in Ontario with comprehensive estate planning.
SWPP’s Living Estate Plan service ensures Ontario families have an estate plan or living trust that protects their assets from unnecessary taxes and fees, including probate.
16 Industrial Parkway South, Suite 609, Aurora, ON, L4G-0R4