Best Trusts Lawyers in Toronto

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English
Gandhi Law Professional Corporation, located in Scarborough, Ontario, is a full-service law firm renowned for its proficiency in family law, criminal law, real estate law, and immigration law. The firm has demonstrated significant growth and adaptability within the legal industry, ensuring clients...
Wagner Sidlofsky LLP
Toronto, Canada

Founded in 2000
English
Wagner Sidlofsky LLP is a distinguished Canadian law firm known for its focused expertise in elder law, estate litigation, and complex trial work. The firmโ€™s legal team brings decades of combined experience to the resolution of high-stakes disputes, including will challenges, power of attorney...

English
McCulloch Mooney Johnston Selby LLP (MMJS) is a distinguished law firm serving southern and western Manitoba through its offices in Carman, Deloraine, Manitou, Morden, and Treherne. The firm offers a comprehensive range of legal services, including real estate transactions, wills and estates...

English
Felipe Ramirez-Joubert Law Office, located in Toronto, Ontario, offers a comprehensive range of legal services tailored to meet the diverse needs of its clientele. The firm's practice areas include real estate transactions, family law, wills and estates, corporate law, and notarial services. With a...

Founded in 2016
English
JCA Law Office Professional Corporation, located in Toronto, Ontario, offers comprehensive legal services across multiple practice areas, including immigration law, family law, real estate transactions, estate planning, criminal justice, and notarial services. The firm is led by founder and CEO...
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...
Toronto, Canada

Founded in 1964
English
Beard Winter LLP, established in 1964, is a distinguished multi-service law firm located in Toronto's financial district. The firm offers comprehensive legal services across various practice areas, including bankruptcy, estate planning, family law, insurance, real estate, and trial litigation. With...
Melissa Scott Law
Toronto, Canada

Founded in 2024
English
Melissa Scott Law, based in London, Ontario, is a distinguished legal practice specializing in criminal defense and personal injury law. The firm's founder, Melissa Scott, is renowned for her exceptional negotiation skills and unwavering resilience, effectively representing clients across Ontario's...
Oakes Law Office
Toronto, Canada

Founded in 2014
English
Oakes Law Office is a boutique law firm located in Swan River, Manitoba, with a branch office in The Pas, Manitoba. The firm serves clients throughout the Swan River Valley, The Pas, Flin Flon, Thompson, Cranberry Portage, Lynn Lake, and surrounding areas. Their preferred areas of practice include...
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About Trusts Law in Toronto, Canada

Trusts are legal arrangements that allow individuals, referred to as "settlers," to transfer their assets to a trustee. The trustee then holds and manages these assets for the benefit of one or more beneficiaries. In Toronto, Canada, Trusts are governed by specific laws and regulations that oversee their creation, management, and dissolution.

Why You May Need a Lawyer

Engaging a lawyer who specializes in Trusts can be crucial in various situations, including:

  • Creating a Trust: A lawyer can assist you in understanding the legal requirements for establishing a Trust, drafting the necessary documents, and ensuring your intentions are properly documented.
  • Administering a Trust: If you have been appointed as a trustee, a lawyer can guide you in fulfilling your fiduciary duties, managing the Trust's assets, and adhering to legal obligations.
  • Resolving Trust Disputes: In case of conflicts among beneficiaries or between beneficiaries and trustees, a lawyer can help navigate complex legal issues, negotiate settlements, or represent your interests in court.
  • Updating or Terminating a Trust: If you need to modify the terms of an existing Trust or terminate it, a lawyer can assist in ensuring the process aligns with legal requirements and helps protect your interests.

Local Laws Overview

Trusts in Toronto, Canada are governed by the Trustee Act and other relevant statutes. Key aspects of local laws include:

  • The Trustee Act outlines the powers and responsibilities of trustees, their duties towards beneficiaries, and how trusts can be created, modified, or terminated.
  • Each Trust should have a proper administration that complies with the guidelines outlined in the applicable legislation.
  • Trustees must act in the best interests of beneficiaries and manage trusts with a high level of care, diligence, and honesty.
  • Beneficiaries have the right to receive accurate and timely information about the trust administration and can seek legal recourse if their rights are violated.

Frequently Asked Questions

What types of Trusts can be created in Toronto, Canada?

Common types of Trusts in Toronto include living trusts, testamentary trusts, discretionary trusts, and charitable trusts.

What are the tax implications of creating a Trust?

Trusts may have tax consequences, such as income tax or capital gains tax. Consulting with a tax lawyer or accountant is recommended to understand the specific tax implications of creating a Trust.

Can I act as a trustee and a beneficiary of the same Trust?

Yes, it is possible to act as a trustee and a beneficiary simultaneously in Toronto. However, it is essential to ensure there is no conflict of interest, and the trust administration remains compliant with the law.

How can I remove a trustee in Toronto, Canada?

To remove a trustee, you may need to follow the legal procedures outlined in the Trustee Act. It often involves providing evidence of trustee misconduct or a breach of fiduciary duty. Consulting with a lawyer is advisable to handle such situations appropriately.

Are there any reporting requirements for trustees in Toronto, Canada?

Yes, trustees are generally required to keep accurate records, maintain proper accounts, and provide regular reports to beneficiaries as outlined in the Trustee Act. Failure to meet reporting requirements can result in legal consequences.

Additional Resources

If you need further information or assistance regarding Trusts in Toronto, Canada, consider reaching out to the following resources:

  • Law Society of Ontario - Visit their website at lso.ca to find licensed lawyers specializing in Trusts within Toronto.
  • Ontario Ministry of the Attorney General - Explore their website at attorneygeneral.jus.gov.on.ca for legal information related to Trusts.

Next Steps

If you require legal assistance in matters related to Trusts in Toronto, Canada:

  1. Consult with a specialized lawyer who has experience in Trusts law to discuss your specific situation and receive personalized advice.
  2. Prepare any relevant documentation, including details about your assets, beneficiaries, and desired outcomes.
  3. Collaborate closely with your lawyer to establish, administer, or resolve any Trust-related matters.
  4. Be proactive in seeking advice from professionals and staying informed about your rights and obligations as a settler, trustee, or beneficiary.
Lawzana helps you find the best lawyers and law firms in Toronto 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 Toronto, 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.