Best Trusts Lawyers in Canada

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Gish Law Office
Lacombe, Canada

English
Gish Law Office, established in 1997, has been a cornerstone of the Lacombe community, offering a comprehensive range of legal services tailored to meet the diverse needs of its clients. The firm's areas of practice encompass real estate transactions, corporate and commercial law, estate planning,...
Walker Head Lawyers
Pickering, Canada

Founded in 1980
English
Established in 1980, Walker Head Lawyers is a full-service law firm based in Pickering, Ontario, serving clients throughout the Durham Region and Toronto. The firm offers comprehensive legal services across various practice areas, including family law, civil litigation, divorce, elder law,...
Smith Law Firm
Toronto, Canada

English
Smith Law Firm, with offices in Barrie and Toronto, Ontario, specializes in litigation and wills and estate planning. The firm offers comprehensive legal services in areas such as contract disputes, construction disputes, debt enforcement and recovery, employment law litigation, estate litigation,...
Toronto, Canada

Founded in 1932
English
Ramsay Law Office Professional Corporation has been a cornerstone of the Temiskaming legal community for over 90 years, offering comprehensive legal services in both English and French. The firm's areas of practice include Real Estate transactions, Corporate and Commercial law, Wills and Powers of...
Mosquito Creek Law Office
Nanton, Canada

Founded in 1982
English
Mosquito Creek Law Office, formerly known as Gordon & McLeod Law Office, has been a cornerstone of the Nanton, Alberta community for over 40 years. The firm offers a comprehensive range of legal services tailored to meet the needs of individuals, families, and businesses. Their areas of practice...
Lippes Mathias LLP
Burlington, Canada

Founded in 1965
177 people in their team
English
Lippes Mathias LLP is a full-service law firm with more than 135 attorneys serving clients regionally, nationally, and internationally. With offices in Buffalo, N.Y.; Albany, N.Y.; Burlington, Ontario; Chicago, Ill.; New York City; Jacksonville, Fla; and Washington, D.C., the firm represents a wide...
Beausejour, Canada

English
Wasylin Law Office, located in Beausejour, Manitoba, is a family-run firm with nearly 50 years of combined experience in Family Law, Real Estate Transactions, Criminal Law, and Wills & Estates. The father-and-son team is dedicated to serving the community with integrity and compassion, offering...
Anwar & Riou Law Office
Unity, Canada

Founded in 2003
English
Anwar & Riou Law Office, established in 2003, is a full-service law firm headquartered in Unity, Saskatchewan, with an additional office in Saskatoon. With over four decades of combined legal experience, the firm offers comprehensive legal services across Saskatchewan, focusing on areas such as...
Shory Law
Calgary, Canada

Founded in 1998
50 people in their team
French
English
Reputable and Community-Based Law Firm in CalgaryShory Law is a community-based firm in Calgary, Alberta with clients nationally around Canada. We pride ourselves in our pro-bono work and involvement with partners and stakeholders that touch our firm’s practice areas of law. Shory Law has been...
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About Trusts Law in Canada:

Trusts in Canada are legal arrangements where a person (the settlor) transfers property to another person or entity (the trustee) to hold and manage for the benefit of a third party (the beneficiary). Trusts can be used for estate planning, asset protection, tax planning, and charitable purposes. Trusts are governed by both provincial and federal laws in Canada.

Why You May Need a Lawyer:

You may need a lawyer for trusts in several situations, including creating a trust, ensuring the trust is properly structured and documented, understanding the tax implications of a trust, managing trust assets, resolving disputes involving trusts, and updating or terminating a trust.

Local Laws Overview:

In Canada, each province and territory has its own trusts legislation, but trust law principles are largely based on common law. The federal government also has laws that may impact trusts, such as the Income Tax Act. It is essential to understand the specific laws of the province where the trust is created and administered.

Frequently Asked Questions:

1. What is a trust?

A trust is a legal arrangement where a person (the settlor) transfers property to another person or entity (the trustee) to hold and manage for the benefit of a third party (the beneficiary).

2. What are the different types of trusts?

Common types of trusts in Canada include living trusts, testamentary trusts, charitable trusts, and special needs trusts.

3. How are trusts taxed in Canada?

Trusts are subject to taxation in Canada. The income earned by the trust is taxed at the applicable tax rates, and the trust may also be subject to capital gains tax when assets are sold.

4. What are the legal requirements for creating a trust?

To create a trust in Canada, there must be a written trust document, a clear intention to create a trust, identifiable beneficiaries, a trustee who accepts their duties, and trust property.

5. Can a trust be challenged in court?

Yes, a trust can be challenged in court on various grounds, such as lack of capacity or undue influence when creating the trust, fraud, or breach of trust by the trustee.

6. How can I protect my assets using a trust?

Creating an irrevocable trust can help protect your assets from creditors or ensure they are passed on to beneficiaries according to your wishes without being subject to probate.

7. How do I choose a trustee for my trust?

Choosing a trustworthy and competent trustee is crucial. You should consider someone who is financially responsible, understands their duties, and can act in the best interests of the beneficiaries.

8. Can I change the terms of a trust after it is created?

Depending on the type of trust and the provisions in the trust document, it may be possible to change the terms of a trust through an amendment or by revoking the trust and creating a new one.

9. What is the role of a beneficiary in a trust?

Beneficiaries have the right to receive distributions from the trust as outlined in the trust document. They also have the right to request information about the trust's administration and hold the trustee accountable for their actions.

10. How can I terminate a trust?

A trust can be terminated by following the terms outlined in the trust document, by distributing all trust assets to the beneficiaries, or by petitioning the court to terminate the trust if circumstances warrant it.

Additional Resources:

For more information on trusts in Canada, you can consult legal professionals specializing in trusts, provincial trusts legislation, the Canada Revenue Agency for tax-related matters, and the Office of the Superintendent of Bankruptcy for asset protection issues.

Next Steps:

If you require legal assistance with trusts in Canada, consider consulting a trusts lawyer who can guide you through the process of creating, managing, or resolving issues related to trusts. They can provide valuable advice tailored to your specific situation and ensure your interests are protected within the confines of the law.

Lawzana helps you find the best lawyers and law firms in Canada through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Trusts, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Canada - quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.