Ep. 128 - Trusts for Canadian Farm Families: Why, When, & for Whom?
A trust isn't the goal. The question is what you'd need one to accomplish.
Part 5 of 6 of Keeping the Farm or Ranch Together.
A trust is an arrangement, not a separate legal person. A settlor (or, in a will, a testator) creates it, trustees manage the assets, and beneficiaries receive the income or the capital. Former tax lawyer Bryan McNulty explains that newer rules have limited income splitting through trusts, but trusts still offer real value in two areas.
The first is the estate freeze. Parents lock in the current value of their company shares, and a family trust holds the future growth…
The skinny
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