Navigating the financial advantages to creating a trust.
Trusts are a powerful legal tool for managing, preserving, and distributing assets according to your wishes—both during your lifetime and after death. Whether you’re looking to protect a family member with a disability, plan for future generations, or reduce probate and tax exposure, our estate lawyers can help you create a trust that meets your goals.
We provide clear, tailored legal advice on establishing, managing, and administering a wide range of trusts in British Columbia.
What is a Trust?
A trust is a legal arrangement where one party (the trustee) holds and manages property or assets for the benefit of another person (the beneficiary), based on terms set out in a legal document. Trusts can take effect either during your lifetime (inter vivos trusts) or after your death (testamentary trusts).
Trusts are used to:
- Provide financial security for family members
- Avoid probate and reduce estate taxes
- Protect assets from creditors or legal claims
- Manage complex or high-value estates
- Control when and how beneficiaries receive funds
What is a Disability Trust?
A disability trust (also known as a Henson trust or discretionary trust) is designed to benefit a person with a disability—while protecting their eligibility for government assistance, such as Persons with Disabilities (PWD) benefits in BC.
Disability trusts:
- Allow you to provide long-term financial support
- Prevent a beneficiary from being disqualified from income-tested programs
- Offer protection from financial exploitation
- Can be created during your lifetime or through your will
Our lawyers ensure your trust meets all legal and tax requirements, including compliance with BC law and federal disability benefit rules.
Our services include:
- Disability trusts for vulnerable beneficiaries
- Family trusts to support loved ones or future generations
- Alter ego and joint partner trusts for clients over 65
- Testamentary trusts created through a will
- Spousal trusts for blended families or second marriages
- Charitable trusts for planned giving
There are many legal and financial advantages to creating a trust, but also many potentially problematic issues that must be carefully considered. If you’re thinking about setting up a trust or want to learn how a trust can support a loved one, we’re here to help. We’ll walk you through your options in plain language and create a plan that gives you peace of mind.
Contact us today to speak with a BC trust lawyer and take the next step in protecting your legacy.
