Family Trusts

An inter vivos trust, often referred to as a “family trust” is a trust that is created by a Settelor during his or her lifetime to benefit certain beneficiaries according to the provisions of a trust document or “trust deed”.

To properly settle a trust, there are a number of factors to consider, including among others the taxable effect of transferring assets to the trust, the tax treatment capital and assets will receive within the trust, who will be appointed as the Trustee (the one who governs the trust) and what powers are to be given to the Trustee. 

Inter vivos or family trusts are no longer restricted to use by the most wealthy clients.  They can be used very effectively, in the proper situation, to achieve a variety of benefits such as wealth preservation, protection of assets, sprinkling benefits among a class of beneficiaries and privacy.  As a result, inter vivos trusts are becoming a more common component of the average estate plan.  To learn more about trust planning, and how it may achieve important benefits within your estate, please give us a call.