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Who legally owns the assets held in a trust?
The trustee holds legal title to and control over the trust assets. However, the trustee must exercise this authority in accordance with the terms of the trust deed. The trustee has a fiduciary responsibility to act in the best interests of the beneficiaries. The BC Trustee Act outlines the strict rules trustees must adhere to within the province.

I recently worked with a woman in her 80s who had more than enough money to comfortably support her lifestyle for the rest of her life.

She was considering moving to a place she loved, closer to family and a community that shared her values. The hesitation she had wasn’t financial capacity. Instead, it was tax-related.

In this post, I’m going to share what you need to know about living trusts from both a technical and mindset perspective.

Estate planning in Canada is the process of arranging for the management and disposal of a person’s estate during their life and after death. 

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!

Estate planning involves arranging for the management and distribution of your estate during your life and after death.  

Trusts are a valuable tool for effective estate planning in Canada and the US because they allow you more control over the distribution of your assets. But not everyone needs a trust.

Wondering when to use a trust for estate planning? You’re not alone. Estate planning is a complex topic. The answer will depend on where you live and what your goals are.

If you’re wondering whether or not you need to do estate planning, the answer is: YES. If you have any amount of assets, you need to do estate planning. 

Asking the right questions lays the groundwork for a solid estate plan, making sure that your desires are honoured and your family is taken care of. 

A trust protects your assets, avoids probate, and ensures your wishes are followed. It helps manage wealth, reduce taxes, and provide for your beneficiaries.