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Is there a limit to how much money I can put in a trust? In Canada, there is no legal limit on how much money or how many assets you can place into a trust. The amount is not capped, but tax rules apply when assets are transferred into the trust.

In Canada, most personal trusts, such as family trusts, are subject to a 21-year deemed disposition rule under the Income Tax Act. The 21-year rule means that the trust is deemed to have sold its assets after 21 years. This can trigger capital gains tax unless assets are distributed or other planning is done.

I was recently speaking with clients who decided to use a trust as part of their estate plan. I want to share a little bit about why a trust worked for them so you can see if any of their goals and concerns align with yours.  This couple has a high net worth, multiple real estate properties, and investment portfolios. They want to pass their assets to their two daughters and future grandchildren.  Their goal was to transfer some of their wealth while they were alive and have a plan for how the rest of the assets would be distributed after their death. They chose to use a trust to retain control over when and how the assets are distributed…

The main reason to avoid a trust is if your estate is simple. You don’t benefit from the added costs and complexities if your estate is simple. In addition, if you don’t want to lose control of the assets, then a trust may not be a fit for you.

The purpose of a trust in BC is to hold and manage assets for specified beneficiaries.  The benefit of a trust is that it provides greater flexibility, control, and protection for transferring wealth. To find out more about trusts and whether you need one, keep reading!

A self-limiting belief is your perception of yourself or others that keeps you from achieving what you want.

Limiting beliefs about money are any beliefs you have about money that hold you back from your dreams and goals. 

Q: “Are there any money-saving secrets when buying a home?”

Is your desire to save money practical? Do you need to save more money? Or are you making decisions rooted in fear?

Life is busy, and we’re constantly bombarded with new things that promise to make us feel better, more energized and fulfilled.