Estate & Trust Planning

Too often estate planning is something people tend to neglect. It is important that you not only plan for your retirement but also for looking after your family. It is my goal to sit with you and your financial planner to help assist you in achieving your estate planning goals

If you do not have a financial planner I can suggest a number of respected professionals to help you achieve your goals. Estate planning, like wills and insurance, can help you sleep knowing your retirement and loved ones are looked after.

Trusts

Testamentary

Testamentary trusts can be created by the death of a taxpayer if the taxpayer’s last will and testament has a situation that creates a trust.

Inter vivos

Inter vivos trusts are trusts created during your lifetime for specific purposes, such as a family trust.

General Trust Rules

All trusts have to file T3 trust tax returns annually. There are numerous rules and regulations pertaining to trusts. You should get professional advice before you proceed.

Death of a Taxpayer

Upon the death of a taxpayer, there are a number of special considerations. One or more tax returns may be required. In some cases it is beneficial to file additional returns to allow additional deductions. In many cases proper planning can be essential in minimizing taxes. It is important to bring in a copy of the will, probate and death certificate.