INTER VIVOS TRUSTS

Let Us Help You
Make the Best Decision

INTER VIVOS TRUSTS OVERVIEW

INTER VIVOS TRUSTS

Overview

  • An “inter vivos trust” is a trust created during your lifetime, as opposed to a “testamentary trust” that arises after your death (usually created by your Will).

    Inter vivos trusts can allow you to:

    • Transfer property to others during your lifetime without giving up full control
    • Transfer property to others over time, by permitting discretionary distribution of income and capital
    • Provide assistance or gifts to disabled family members without impacting their eligibility for government benefits (ODSP)
    • Transfer future growth to your children or others (an estate freeze)

    If you are over the age of 65, an alter ego or joint partnership trust can be helpful in some cases to avoid the need for probate tax, while also determining the distribution of your assets after your death.

    At Berry Gage LLP, we can work with you and your financial/tax advisor to determine if an inter vivos trust is right for you.