General information only: This resource is educational and is not legal or tax advice. Trust planning should be reviewed with qualified legal and tax professionals.
What is a trust?
A trust is a legal relationship where assets are held and managed by one party for the benefit of another. The exact structure, tax treatment, and rules depend on the type of trust and the province or territory involved.
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Request Financial GuidanceWhy families use trusts
Families may explore trusts for privacy, control, beneficiary planning, minor children, vulnerable beneficiaries, business succession, charitable intentions, or organized wealth transfer.
Wealth transfer and asset protection
Trusts can be part of a legacy plan when families want more structure than a direct transfer. They may help define who benefits, when assets are distributed, and how assets are managed over time.
Children and beneficiary planning
Trust planning can be relevant when beneficiaries are young, not ready to manage money, have special needs, or require more careful distribution rules.
Revocable vs irrevocable trusts
In general terms, revocable trusts may allow changes by the person who created them, while irrevocable trusts are harder or impossible to change once established. The legal and tax consequences can be significant, so professional advice is essential.
Trust planning connects with estate planning basics, POA planning, and beneficiary coordination.