Understanding Trusts

Saleem Tyab - Oct 25, 2018
What is an "inter vivos trust"? Do you need a Power of Attorney? What is the difference between a will and a trust? How does provincial legislation play into all of this?
Tyab Wealth Management

What is an "inter vivos trust"? Do you need a Power of Attorney? What is the difference between a will and a trust? How does provincial legislation play into all of this? You may find it a pretty tedious process trying to answer all your questions on your own. While a will is designed for your heirs to get what you want them to get, building a trust can make this process simple. There are a few benefits behind having one. These include the fact that as opposed to a will, the terms of a trust are more legally binding. Establishing a trust is something that should not just be exclusive to high net-worth individuals. It is however a sophisticated process and you need the advice of professionals before implementing one. Click here for a 101 on Trusts that you will find pretty useful. Call me on 604 643 7588 or reach out to me if you have any questions or if you would like to explore this further.