Why Do People Use a Trust Instead of a Will in Canada?
While wills are more common, the use of trusts is steadily growing in Canada, especially among individuals with significant assets or unique family dynamics.
January 10, 2025
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.
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.