All posts in the ‘Trusts’ category

Did a recent Court of Appeal decision ‘water down’ discretionary trusts?

A discretionary trust is an important estate planning tool for many purposes.  One purpose is to protect an inheritance for a person with a disability, and to ensure the continuing availability of social assistance for that person.  The Court of Appeal recently considered a discretionary trust in the context of an applicant for rental assistance… View this post »

Did the 2016 BC Budget put “bare trust” planning in jeopardy?

Many estate plans involve a “bare trust.”  This document allows one person to hold the legal title of a property in trust for another person who is the true beneficial owner.  The bare trust can be used to transfer ownership without triggering BC’s Property Transfer Tax, which only applies when there is a registered change… View this post »

The 21 Year Deemed Disposition Rule

If you set up a trust as part of your estate plan, one date you don’t want to forget is the 21st anniversary of the trust. This is because in most cases, a trust is deemed to dispose of its assets for fair market value on the 21st anniversary of the creation of the trust,… View this post »