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Irrevocable Discretionary Trust Deed | 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.

$34.99

This Trust Deed sets up a family trust from which the grantor's spouse and children will be paid distributions of income and principal after the grantor's death.
During the grantor's lifetime, the trustee will pay the income and principal of the trust to the grantor as the grantor directs, or failing any instructions, as the trustee sees fit.
The grantor will act as the original trustee of the Trust.
If the grantor becomes unable to manage his/her affairs, the trustee may pay the trust income and principal to the grantor's spouse and/or children.
On the grantor's death, his/her tangible personal property is to pass to his/her spouse, or if the spouse has predeceased, in equal shares per stirpes to the children.
The trust estate is protected against claims, encumbrances, pledge or seizure as the result of any act of a beneficiary.
On the death or incompetency of the grantor, the grantor's spouse or, alternatively, a majority of the grantor's children have the power to remove the trustee and appoint a successor.
Available in MS Word format.
Intended to be used only in the United States.

$29.99