Winnipeg Family Trust Lawyer
Protecting Your Assets
A family trust is a way of distributing a person's property or assets with going through probate court, and reducing or eliminating estate taxes. It is considered a separate legal entity under the Income Tax Act. A family trust can be established during a person's lifetime or after their death. If a family trust is established while the person is still alive, it can be used in other ways to reduce personal income tax obligations.
Creating a trust
involves the transfer of assets to a trustee, who then controls and manages the property for one or more beneficiaries, who will receive the assets at some later point in time. The trustee is expected to act in the best interests of the beneficiary when managing the trust.
To find out more information about trusts and family trusts, contact a Winnipeg estate planning attorney
. A competent estate planning lawyer can provide valuable assistance regarding trusts, wills and other estate matters to ensure your assets are distributed according to your desires after your death.
Family Trust Attorney in Winnipeg
Assiniboia Law Office is a highly experienced estate planning firm that can advise you on how best to manage your assets and ensure that they are properly distributed when you die. We have helped many clients develop effective plans that protect their interests, reduce taxation and make sure their property will go to the appropriate beneficiaries. Our firm can provide skilled legal assistance with wills, trusts
and other vital estate documentation.
There are many benefits to a family trust, including
- Creditor protection
- A reduction in annual taxes
- Multiple use of capital gains taxation to minimize taxes
- Family income sharing
We can review your estate and discuss your options regarding property and asset distribution, and other concerns regarding your personal and financial affairs.