Your Choice for Calgary Trust Planning

Our Legal Team is Here To Help You With Your Trust Planning Needs

At Bastion Estate Law, we offer professional and concise Calgary Trust Planning services. Trust Planning can be an important part of your overall estate plan, and our goal is to ensure the trust planning process goes as smoothly as possible.

What is a Trust?

Trusts have a long history in the English common law and include both in vivo (taking effect while the person establishing the trust is alive) and testamentary trusts (established through a will or other document to take effect upon the death of the person establishing the trust). Trusts are created by giving a legal title of assets to one individual (the Trustee) who manages those assets for the benefit of another (the Beneficiary).

Why is Trust Planning Important?

Trusts can be an extremely useful and effective way to accomplish estate planning objectives. However, trusts are not appropriate in all circumstances. When engaging in the estate planning process, you and your advisors should carefully review the pros and cons of trusts when assessing if the use of a trust is appropriate in the given circumstances. Trusts can result in many benefits, some of which are outlined below but do require additional management resources.

Trusts can serve several useful purposes for estate planning including:

  • Holding assets for minor children until they reach a certain age determined by the person establishing the trust;
  • Managing assets for beneficiaries who lack the ability or desire to manage their own affairs;
  • Protecting assets from beneficiaries who have a poor financial management history (so-called “spendthrift” trusts);
  • Shielding assets from claims of a beneficiary’s creditors;
  • Protecting assets from matrimonial property claims;
  • Providing for children from previous relationships; and
  • Maintaining privacy through the estate administration process.

Trusts can also assist in achieving several financial goals including:

  • Reducing exposure to probate and executor fees;
  • Establishing an estate freeze (utilized in the context of business ownership); and
  • Deferral of capital gains.

Learn More About Our Calgary Trust Planning Services

Bastion Estate Law proudly offers timely, dependable and cost-effective legal services in Calgary Wills & Estate, Estate Administration, and Probate Law

We offer fee-based unbiased estate planning advice for the majority of our Calgary Legal Services
as well as a Complimentary Initial Consultation to discuss your specific needs.