Uses of Trusts in Estate Planning - Stewart McKelvey
Uses of Trusts in Estate Planning - Stewart McKelvey
Uses of Trusts in Estate Planning - Stewart McKelvey
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Inter Vivos <strong>Trusts</strong> (Cont’d)<br />
• Negative tax implications <strong>of</strong>ten make it an<br />
unattractive alternative<br />
• Could be useful for non-<strong>in</strong>come produc<strong>in</strong>g<br />
assets such as a cottage property that has<br />
not appreciated much s<strong>in</strong>ce acquisition<br />
• Preserves cont<strong>in</strong>uity <strong>of</strong> ownership<br />
• Need to address ongo<strong>in</strong>g ma<strong>in</strong>tenance,<br />
repairs and other expenses <strong>of</strong> ownership<br />
(i.e. property tax)