TRUST ADMINISTRATION

If you have substantial assets, a trust arrangement can be an attractive management solution. By transferring the management of your assets to a trust, you ensure those assets will be managed according to predetermined objectives that the trustee must pursue on behalf of your beneficiaries.

TESTAMENTARY TRUST OR LIVING TRUST?

A testamentary trust takes effect at the time of death and originates with the will. A living trust is created by a legal document called a trust agreement that is signed during your lifetime. The will and the trust agreement are the key documents and they specify the following:

• what property is covered by the trust
• who administers the trust
• who benefits from the income and the capital
• what are the powers and the obligations of the trustee
• when the trust starts and ends.

IT'S YOUR DECISION

A trust arrangement is necessary when you want to establish the terms and conditions of the transfer, management and use of your assets. For example, you can decide to protect your children who have not yet reached majority by specifying that amounts should be remitted to them periodically, in order to meet their needs and to pay for their education.

In short, a trust is a financial and estate-planning tool that lets you control the transfer of your assets over a given period and according to your instructions.

BENEFIT FROM THE MANY ADVANTAGES OF A TRUST

• Tax privileges, therefore less tax to pay
• Assurance that your assets will not be squandered after your death
• The capital willed to a child or to a person who is incapacitated is protected until that person reaches a specified age 
• Capital is protected from creditors and beneficiaries
• The power to limit the way in which the assets you bequeath are used
• Option to use the capital for your children's education. 

IF YOU ARE A TRUSTEE AND NEED HELP

If you have been appointed trustee and feel you have neither the time nor the skills to carry out this task, we can help you. Call on our fully-qualified specialists to handle your trust administration needs.