Trust

Trust Services in Toronto, ON

Achieve Your Estate Goals with Strategic Trust Planning

Trusts are powerful estate planning tools that allow you to protect assets, control how and when beneficiaries receive inheritances, minimize tax exposure, and achieve objectives that cannot be accomplished through wills alone. While trusts are sometimes perceived as tools only for the wealthy, they serve valuable purposes for many Toronto families with diverse financial situations. BSG LLP provides comprehensive trust services to individuals, families, and business owners seeking sophisticated strategies to protect their assets and provide for their beneficiaries.

A trust is a legal arrangement where a trustee holds and manages assets for the benefit of beneficiaries according to terms you establish. This structure provides flexibility and control that direct asset ownership cannot offer. Our firm brings over 15 years of collective experience helping Toronto residents determine whether trusts serve their estate planning objectives.

Contact us online or call (249) 501-6683 to schedule your free consultation with a Toronto trust lawyer.

Types of Trusts We Establish

Testamentary Trusts

Created through your will and taking effect after your death, testamentary trusts are commonly used to:

Hold inheritances for minor children until they reach specified ages
Provide for beneficiaries with disabilities without affecting government benefits
Give surviving spouses lifetime use of assets while ensuring remaining assets pass to children from previous relationships

Inter Vivos (Living) Trusts

Established during your lifetime, these trusts can help manage assets if you become incapacitated, provide for family members with special needs, or facilitate income splitting for tax purposes where permitted by law.

Alter Ego and Joint Partner Trusts

Available to individuals aged 65 and older, these specialized structures allow you to transfer assets during your lifetime while maintaining control and avoiding probate fees at death—a significant consideration given Ontario's estate administration tax rates.

Special Needs Trusts

These trusts protect beneficiaries with disabilities by providing financial support without disqualifying them from government assistance programs that have strict asset limitations. They require careful drafting to comply with both trust law and government benefits regulations.

Family Trusts

Family trusts can facilitate income splitting among family members, though recent tax law changes have imposed restrictions on these strategies. We advise clients on current rules and help structure family trusts that comply with tax regulations while achieving legitimate wealth management objectives.

Trust Considerations for Toronto Families

Toronto's high real estate values mean many estates face substantial probate fees—Ontario charges estate administration tax of 1.5% on estate value over $50,000. Assets held in trusts do not pass through your estate and therefore avoid these fees, making trusts attractive vehicles for substantial holdings.

The city's diverse population includes many families with beneficiaries who have varied needs and capabilities. Trusts allow you to provide for all children while protecting inheritances from being quickly depleted by beneficiaries unable to manage large sums responsibly due to age, inexperience, or other challenges.

Business owners throughout Toronto use trusts as part of succession planning and asset protection strategies. Business interests can be held in trust to separate ownership from control or facilitate the gradual transition of ownership to the next generation.

Our Approach to Trust Planning

Trust planning begins with understanding your objectives. We conduct a thorough analysis of your financial situation, family dynamics, and long-term goals before recommending whether trusts are appropriate. Trusts involve complexity and cost, so they should only be used when they provide real value that justifies these expenses.

If trusts serve your needs, we carefully design trust terms that accomplish your goals while remaining legally enforceable. We help you select appropriate trustees (individuals or trust companies capable of managing trust assets responsibly) and address practical administration issues like trustee compensation, investment decisions, record-keeping requirements, and dispute resolution.

Why Choose BSG LLP for Trust Services?

Strategic Expertise – Over 15 years of combined experience evaluating trust options and establishing trusts
Comprehensive Understanding – Knowledge of trust law, tax implications, and practical administration considerations
Customized Solutions – Trusts designed for your specific family situation and financial circumstances
Clear Explanation – Complex trust concepts explained in understandable terms
Coordinated Planning – Trust planning integrated with your overall estate plan
Practical Focus – Honest assessment of whether trusts truly serve your needs

Explore Trust Planning Options

Trusts can provide powerful solutions for protecting assets and achieving estate planning goals, but they're not appropriate for every situation. BSG LLP will evaluate your circumstances, explain whether trusts would benefit your estate plan, and help you develop strategies that protect your assets and provide for your loved ones.

Contact us online or call (249) 501-6683 to arrange your free consultation.

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