What Are the Disadvantages of a Trust in Canada?
Trusts offer numerous benefits, such as avoiding probate, which can save time, reduce costs, and maintain privacy.
January 12, 2025
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.