Northwest Territories Estate Planning Package

Prepare an Alter Ego Trust Deed with this easy-to-use template, pursuant to the provisions of the Income Tax Act (Canada).

• An alter ego trust can only be created by an individual aged 65 or older.
• The individual has the exclusive right to receive all income from the trust.
• During the settlor's lifetime no person other than the settlor may receive or otherwise obtain the use of any part of the trust's income or capital.
• Upon the settlor's death, the trust will hold any remaining assets for the benefit of other beneficiaries named in the Trust Deed. The trust will be able to distribute those assets to the other beneficiaries without the assets having to go through the probate process.
• This Alter Ego Trust Deed template is governed by Canadian tax laws and is intended to be used only within Canada.

Prepare a charitable remainder trust with this downloadable template for Canadian residents.

• A charitable remainder trust allows the donor to retain a life interest in property transferred into the trust but makes an irrevocable gift of the residual interest to a registered charity. The charity then issues a donation receipt for the fair market value of the residual interest in the property at the time that the residual interest vests in the charity.
• The tax credit can be carried forward in whole or in part for up to five years.
• All capital gains are allocated to the capital beneficiary, i.e. the charity, which is tax-exempt.
• The net income of the trust is paid to the income beneficiary (the settlor and their spouse, and/or whoever else the settlor may designate in the trust).
• Trust expenses are paid from the trust income.
• This is an irrevocable trust.
• The template is available in MS Word format and is fully customizable.
• Governed by Canadian tax laws and intended to be used only in Canada.

Learn about the trust structure in Canada in this free expert guide.

The guide provides an overview of the structure of a trust, the advantages of a tax structure as a vehicle for income splitting and tax planning for residents of Canada, and the characteristics of specific types of discretionary trusts, such as:

• spousal (family) trusts;
• trusts for minor children;
• trusts for adult children;
• trusts for long-term maintenance of a handicapped child;
• spendthrift trusts.

The Trust Structure in Canada is information for Canadian residents and is copyright by the author.