Trusts

When a Trust Makes Sense

While a Will distributes your estate after death, a Trust does something more. It allows assets to be held and managed over time, with built-in rules and protections that a simple inheritance cannot provide.

Trusts are not just for the very wealthy — they are practical planning tools for any family with specific needs or concerns. Whether you want to protect an inheritance for a vulnerable beneficiary, support a child with a disability without affecting their government benefits, reduce probate fees, or keep your financial affairs private, a Trust may be the right solution.

Testamentary Trusts

Created within your Will, a Testamentary Trust takes effect upon your death. It's commonly used to:

• Hold assets for minor children until they reach a certain age

• Protect an inheritance for a beneficiary who may struggle with financial management

• Provide for a surviving spouse while preserving capital for children from a prior relationship

• Set aside funds for a child or grandchild with specific needs

A Spousal Trust and a Minor Children's Trust are both examples of testamentary trusts, each tailored to the specific circumstances of your family.

Inter Vivos (Living) Trusts

Established during your lifetime, an Inter Vivos Trust allows assets to be transferred outside of your estate entirely — avoiding probate, maintaining privacy, and in some cases providing tax advantages.

An Alter Ego Trust or Joint Partner Trust can be especially useful for individuals over 65, allowing assets to pass directly to beneficiaries without going through the estate administration process. A Charitable Remainder Trust is another option for those who want to support a cause they care about while retaining an income stream during their lifetime.

Henson Trusts for Vulnerable Beneficiaries

If you have a family member with a disability who receives government benefits, a Henson Trust allows you to leave them an inheritance without affecting their eligibility for programs like ODSP. The trust holds the assets on their behalf, providing financial support without disqualifying them from the assistance they depend on.

This is one of the most important planning tools available to families in this situation, and getting it right matters enormously. I'll make sure the trust is structured properly so it achieves exactly what you intend.

Common reasons families set up Trusts:

• Protecting beneficiaries who are minors, vulnerable, or not yet financially independent

• Planning for a blended family where you want to provide for a partner and children from a prior relationship

• Supporting a family member with a disability without affecting their government benefits

• Reducing probate fees and keeping your estate out of the public record

• Business succession planning

• Charitable giving during your lifetime or after your death