Uses of Trusts in Estate Planning - Stewart McKelvey

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Alter Ego and Joint Partner Trusts • A specific exception in the Income Tax Act makes these types of inter vivos trusts attractive • Only applies to individuals over 65 years of age • Alter ego trust – for the sole benefit of settlor during her lifetime • Joint partner trust – for the joint benefit of settlor and her spouse or common-law partner for their joint lifetimes
Alter Ego and Joint Partner Trusts • Transfer of assets by settlor occurs on a “rollover” or tax neutral basis • The 21 year deemed disposition rule does not apply until after the settlor’s death • Beneficiaries after death of settlor and settlor’s spouse can be settlor’s family or other beneficiaries • A tax-effective way to avoid probate
Page 1 and 2: Uses of Trusts in Estate Planning C
Page 3 and 4: What is a Trust? • A legal relati
Page 5 and 6: What is a Trust? (Cont’d) • Per
Page 7 and 8: Taxation of Trusts • Detailed and
Page 9 and 10: Taxation of Trusts (Cont’d) • I
Page 11 and 12: Inter Vivos Trusts • Any trust cr
Page 13 and 14: Family Trusts • Not a defined ter
Page 15: Family Trusts (Cont’d) • Truste
Page 19 and 20: Alter Ego and Joint Partner Trusts
Page 21 and 22: Spousal Trusts (Cont’d) • Alter
Page 23 and 24: Testamentary Trusts • Established
Page 25 and 26: Testamentary Trusts (Cont’d) •
Page 27 and 28: Testamentary Trusts (Cont’d) - To
Page 29 and 30: Insurance Trusts (Cont’d) • If
Page 31 and 32: Insurance Trusts (Cont’d) • Pol
Page 33 and 34: RRSP Trusts • Similar principles
Page 35 and 36: RRSP Trusts (Cont’d) • As a res
Page 37 and 38: Seeding Trusts • Another form of
Page 39 and 40: Conclusion • A properly structure
Page 41: Contact Information Richard Niederm

Uses of Trusts in Estate Planning - Stewart McKelvey

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