Uses of Trusts in Estate Planning - Stewart McKelvey

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Taxation of Trusts (Cont’d) • Income paid or payable to beneficiaries is taxed in the hands of those beneficiaries • The trust receives a deduction for all amounts paid or made payable to the beneficiaries • If the trust is revocable, or if the settlor retains significant control over the trust assets, all income (including capital gains) is taxed in the hands of the settlor
Taxation of Trusts (Cont’d) • If the trust is irrevocable and the beneficiaries are under 18 years of age, income (interest and dividends) is taxed in the hands of the settlor, but capital gains can be taxed in the hands of the minor beneficiaries • Detailed rules apply to the “attribution” of income to the settlor, spouses and minors
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: Taxation of Trusts • Detailed and
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 and 18: Alter Ego and Joint Partner Trusts
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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