Setting up a living trust in Canada involves drafting a legal document that outlines the trust’s terms, including who the trustee and beneficiaries are, and how the assets will be managed and distributed.
Putting a house in a trust can protect it from probate, saving time, money, and ensuring privacy.
Yes, trusts are taxed in Canada. Income generated within a trust, such as interest, dividends, or capital gains, is subject to taxation.
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.
What is the cost of a living trust in Canada? The cost of setting up a living trust in Canada typically ranges from $2,000 to $15,000 when done through a legal professional.
In Ontario, estates valued over $50,000 generally require probate to confirm the executor’s authority to manage and distribute the assets.
A living trust allows you to avoid probate, maintain privacy, and manage your assets during your lifetime. A will is simpler and ensures your final wishes are carried out, such as appointing guardians for minor children. The right choice depends on your financial situation and goals—for many, a combination of both is ideal.
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
