Trusts we commonly set up
- A testamentary trust, set out in your will, that takes effect when you die.
- A trust that holds an inheritance for children until they reach an age you choose. Without one, money left to a minor may be paid into court until they turn 18.
- A Henson trust for a beneficiary who receives Ontario Disability Support Program payments, which can generally protect their eligibility.
- Trusts created during your lifetime, where your plan calls for one.
How we approach it
We start with what the trust needs to do, then work through who should act as trustee, what powers they need, and how the trust fits with the rest of your estate plan. Unclear wording can undo a trust’s purpose, so we keep it precise.
Trust work varies a great deal from one family to the next, so the plan is shaped once your situation is clear.
Trusts carry their own tax and reporting rules.
Those are questions for your accountant, and we draft the trust to work alongside that advice.
Common questions
Who should be the trustee?
Someone you trust who is organised and willing to do it for as long as the trust lasts. Many people name two trustees, or a family member together with a professional.
Is a Henson trust right for my family?
It can be, if a beneficiary receives or may receive ODSP. It depends on the beneficiary’s situation and the rest of your plan, which we talk through at your consultation.
This page is general information about Ontario law, not legal advice for your situation.