What is a trust?
A trust separates legal ownership and beneficial interest. Find what that means and how it works.
Why are mortgages so expensive in Canada?
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A trust is a legal entity that allows one or more trustees to control assets held by the trust for the benefit of one or more beneficiaries. A trustee may also be a beneficiary of the trust. The person who places assets into a trust is called the settlor.
A trust separates legal ownership and beneficial interest. While the trustee is the legal owner of the trust, it remains a separate entity not included in the trustee’s own estate.
Example: “Unlike a will, which transfers assets when you die, a trust can be used to transfer assets to a beneficiary at any time.”
Read more about trusts:
- The difference between wills and trusts
Knowing the difference between these two planning tools is the key to a successful estate plan. - How to leave money to your grandkids
If you’re a grandparent and want to leave money to your grandchildren, here are tips on how best to do that. - Unique ideas for your last will and testament
A straightforward will can work well for many people but, for some, there are clauses to consider that might better convey your wishes. - How to leave money to an adult child with no investing know-how
Dee wants to ensure that her son receives a regular monthly income, while protecting the lump sum of his inheritance. What are the options?
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