A package for everything
This package includes:
Trust Declaration or Deed (legal document establishing the trust).
List of Beneficiaries.
Initial Asset Schedule (if applicable).
CRA Trust Account Number (if required).
What you need to know about a trust fund
What is a trust
A trust is a legal arrangement where assets are held by one party (the trustee) for the benefit of another (the beneficiary). In Canada, trusts serve as separate legal entities for tax purposes, allowing for strategic asset transfer, management, and distribution according to the terms established by the settlor.
Do you need a trust?
Consider establishing a trust if you're planning your estate, protecting assets, providing for dependents with special needs, managing family wealth, or seeking tax planning opportunities. Trusts are valuable for those wanting controlled asset distribution, privacy in wealth transfer, or protection from potential creditors.
How does a trust work?
Creating a trust in Canada involves appointing trustees, drafting a trust deed that outlines terms and conditions, transferring assets to the trust, and ensuring ongoing compliance with tax reporting requirements. Trustees manage the assets according to the trust deed for the ultimate benefit of the beneficiaries.
Trust Pros and Cons
Pros include potential probate avoidance, privacy in asset distribution, protection against creditors, control over how and when beneficiaries receive assets, and possible tax planning advantages. Cons involve setup and maintenance costs, complex tax reporting, potential loss of control over assets, and the 21-year deemed disposition rule for Canadian trusts.
3 steps to set up your business with Bizbuddy
01
Tell us about your business details
Share your company details and we'll handle the rest.
02
Choose the services you need
Select the options and services that fit your business.
03
Si back while we do the work
We'll take care of the process and get your business up and running.
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Set up in just a few steps
A fast, simple, and hassle-free way to incorporate your business.
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Get thigs right
We handle the paperwork, so you can focus on your business.
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Ask the experts
Get guidance from our legal team with a call or expert advice.
Why use Bizbuddy for your business
3 reasons to create a trust fund
Estate planning flexibility
Control how and when your assets are distributed to beneficiaries.
Asset protection
Properly structured trusts can provide security for family wealth and protect beneficiaries from their own financial inexperience.
Tax efficiency
Trusts can be structured to minimize overall family tax burden and manage the timing of income recognition.
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What our clients say about us
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Bruce Dallin
BUSINESS SETUP - LOGO DESIGN - BOOKKEEPING
BizBuddy made incorporating my business incredibly easy and stress-free! Their expert guidance and seamless process saved me time and hassle. Highly recommend for anyone starting a new company!
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Max Elder
BUSINESS SETUP - BOOKKEEPING
I was able to set up my Solo Proprietorship in days thanks to Bizbuddy express service. They give you everything you need to start quickly and hassle-free. Would reccomend to anyone who wants to concentrate on his business more than paperwork.
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Laura Anderson
BUSINESS SETUP - CONSULTATION PHONE CALL
Bizbuddy helped me set up my Trust Fund effortlessly. Their consultation phone call helped me decide what I really needed and the expert guidance made everything easy and most importantly quick!