Trusts

** A reminder, however, that the following information regarding trusts is not considered legal advice and is general information only.  You should contact a lawyer registered to practice in your province to properly advise you. ***

Q: What kinds of Trusts does Tim Louis & Company do?

a.  Disability Trusts (Intervivos Trusts):  usually for those who currently receive disability benefits and are expecting a lump sum of money which may disqualify them from continuing to receive their benefits.

b.  Trusts that are created in a Last Will & Testament:  created for the benefit of another upon your death. e.g. minor children.

Q: Who is the Trustee?

The Trustee can be a person, persons or company who will be responsible for managing the Trust.

Q: For a Disability Trust, what is the difference between a Discretionary and Non-Discretionary Trust?

Discretionary Trusts:  Beneficiary has no control of Trust money or decision making.

Non-Discretionary Trusts:  Beneficiary has control of Trust money and decision making BUT there can only be $100,000 in the Trust as a limit

Q: Where can I find more information about Disability Trusts?

We recommend the Trust booklet created by the Voice of Cerebral Palsy which can be found online in pdf format.

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