Trusts

Why Setting Up Trusts in Toronto Matters

More control, more protection, more certainty for your family. 

A trust is a powerful legal tool that lets you set terms on how and when your assets are used – protecting beneficiaries, reducing taxes, and ensuring your wishes are honoured long after you’re gone. 

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 from a vulnerable beneficiary, support a child with a disability without affecting their government benefits, minimise probate fees, or simply 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 often used to hold assets for minor children until they reach a certain age, protect an inheritance for a beneficiary who struggles with financial management, or provide for a spouse while preserving capital for children from a prior relationship.

Inter Vivos (Living) Trusts

Established during your lifetime, a living 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.

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. This is one of the most important planning tools available to families in this situation.

Types of trusts We Draft at O’Hare Law Toronto:

• Testamentary trusts (in-will)

• Inter vivos/living trusts

• Henson trusts (disability)

• Alter ego & joint partner trusts

• Spousal trusts

• Minor children’s trusts

• Charitable remainder trusts

Common reasons families set up trusts:

• Protecting your beneficiaries

• Blended family planning

• Reducing probate fees

• Disability planning

• Preserving privacy 

• Business succession