Strategic Wealth Blog

Living trusts can be a good idea if you want to avoid probate, keep financial matters private, and have assets managed effectively during incapacity.

While family trusts can be powerful estate planning tools, they do come with challenges. They can be expensive to set up and require ongoing legal and accounting support, which makes them less practical for smaller estates.

This Ontario estate planning checklist is for anyone who wants to organize their assets, protect loved ones, and reduce stress for their family.

Putting a house in a living trust in Canada means transferring legal ownership of the property to a trustee while alive.

This case study is here to act as a warning to anyone who is thinking of going rogue and trying to avoid tax liabilities without thinking through all the potential risks and downsides. 

In Canada, most trusts are taxed as separate legal entities and must file their own T3 tax return each year. 

A family trust in Canada can help you split income among family members, which may lower your overall household tax bill.

What is a living trust in Canada? A living trust is a legal arrangement where you transfer assets into a trust while you are still alive.