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ARTICLE · 19 APRIL 2017

New Trust Taxation Rules: Important Considerations

O'Sullivan Estate Lawyers LLP
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This Special Advisory provides an overview of the new rules regarding the taxation of testamentary and life interest trusts effective January 1, 2016, and how they may affect existing trusts...

CanadaTax
O'Sullivan Estate Lawyers LLP
O'Sullivan Estate Lawyers LLP
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This Special Advisory provides an overview of the new rules regarding the taxation of testamentary and life interest trusts effective January 1, 2016, and how they may affect existing trusts, trust planning and tax planning for estates.

GENERAL TRUST PRINCIPLES

Definition and Creation of a Trust and Other General Trust Principles

Please refer to our Advisory " Using a Trust in Your Estate Plan" to learn more about general trust principles, such as what a trust is, how it is created, dual ownership under a trust, and key provisions in a trust agreement.

Inter Vivos and Testamentary Trusts

A trust may be established during a settlor's lifetime (an "inter vivos" trust) or it may be established under a will and, as a result, it will only take effect on death (a "testamentary" trust).

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