Types of trusts – which one is best for you?
Once you have decided to establish a family trust, the next question to consider is what type of trust you want. There are three types of trust, each serving a slightly different purpose. Which one you choose will depend on what you plan to do with your trust. Your wealth advisor will be able to […]
How tax works with family trusts
An important thing to consider in your wealth planning process is how the taxes work with family trusts. A family trust is viewed as a taxpayer for federal income tax purposes and pays the top marginal tax rates. As such, it will enable you to avoid tax so much as to reduce your tax liability. […]
How long does it take to set up a family trust?
A family trust is an essential tool for high-net-worth families, but it takes a little time and paperwork to get them up and running. The exact time taken to set up a trust differs depending on the specifics of the agreement and the pace at which the settlor and their advisors move. It can take […]
How to set up your family trust in Canada
It is straightforward to set up a family trust in Canada. It requires a simple three-step process. Provided that you have all the necessary documentation and are working with an expert wealth advisor or tax lawyer, it can be done quickly and with minimal fuss. First, let’s take a look at the family trust setup process. Step 1: Draft a trust document The first […]
