Saskatchewan Estate Planning Package

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.

Set up an Irrevocable Discretionary Trust with this template trust deed for Canada.

• A discretionary trust is also called a blind trust because the beneficiary has no information about the assets in the trust or how the trust is administered.
• The settlor (the person setting up the trust) is the sole beneficiary of the trust and cannot act as a trustee.
• The division date will occur either upon the death of the beneficiary or on the 21-year anniversary of the establishment of the trust, whichever is earlier.
• The settlor reserves no powers or rights, and shall receive no benefits, income or capital of the trust fund in his/her capacity as settlor.
• This trust cannot be revoked.
• During the lifetime of the settlor, no income or capital of the trust shall be distributed to the settlor's spouse or a minor child of the settlor unless the distribution does not result in attribution of income or gain to the settlor under the Income Tax Act (Canada).
• This Irrevocable Discretionary Trust Deed is a good strategy to use when it's important that the beneficiary not be aware of what assets are held in the trust so as to avoid any claims of conflict of interest.

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.