Uses of Trusts in Estate Planning - Stewart McKelvey

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Alter Ego and Joint Partner Trusts • Assets pass under the trust, not the will • Can be considered a “will substitute” • Protects against incapacity • Substitute trustees maintain continuity of • Substitute trustees maintain continuity of administration of trust assets if settlor becomes incompetent
Alter Ego and Joint Partner Trusts • If trust is irrevocable with no power to encroach on capital during settlor’s lifetime, will protect the capital (but not income) from creditors • Main drawback is inability to transfer assets to a testamentary trust • Usually need at least $200,000 in assets to justify the expense to set-up and maintain the trust
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 and 16: Family Trusts (Cont’d) • Truste
Page 17: 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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