Tag: Spousal Trusts

11 Aug

Levy Zavet – What is a spousal trust for your will?

A spousal trust is an important aspect of the estate planning process that is often overlooked. Sometimes called a testamentary spousal trust, this important tool is...

22 Sep

TRUSTS & ESTATES: How your Beneficiaries are taxed

Taxation of BeneficiariesUnder subsection 104(13) of the Canadian Income Tax Act (“ITA”), the income of a trust or estate that is paid or payable to a...

20 Sep

Utilizing Spousal Trusts for Estate Planning

If capital property of a taxpayer is transferred to a qualifying inter vivos spousal trust, s.73(1) of the ITA permits the property to be transferred at...

3 Sep

Trusts and Estates: Different Types of Trusts in Canada

Classification of Trusts1. Testamentary TrustsThe Income Tax Act defines a testamentary trust as a trust or estate that is formed consequent to the death of a...