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What’s the difference between a trust and an in-trust account?

Trust accounts are operated by liberal professionals, such as lawyers and notaries, who use them to handle their clients’ funds.

As for in-trust accounts, they allow you to deposit, manage and withdraw money on behalf of a third party. For example, you can open an account and deposit funds for your child and manage the money on their behalf. Depending on whether you open the account in Quebec or elsewhere in Canada, the conditions may differ.

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