Inter Vivos Trust

• Evaluating with the client and their advisors to determine whether an inter – vivos trust is appropriate and if so what terms should the trust include

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• Ensuring that the trusts assets are effectively registered and legal ownership is properly documented

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• Effectively administer the assets of the trusts and if necessary engage the appropriate experts (such as investment managers or real estate property managers) to manage the assets

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•  Collect the income earned on the trust’s assets and pay any expenses related to the administration of the trust’s assets

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• Prepare trust accounting records in a format that is consistent with the applicable requirements

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• Filing income tax returns for the trust and paying any tax liabilities

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• Providing periodic reports to the beneficiaries on the administration of the trust

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• When the trust is terminated, distribute the remaining assets to the named beneficiaries.

 

Testamentary Trust

• Working with the client and their advisors when the Will is being prepared to determine whether a testamentary trust is appropriate and on what terms

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• After the client has passed away and the testamentary trust is to be created, working with the executor of the estate and the advisors to the estate to ensure that the trust is established as described in the client’s Will

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• Arranging for the transfer of the specified assets in the estate to the trust

 

• Prudently administering the assets of the trust which may involve hiring experts (such as investment managers or real estate property managers) to manage the assets

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• Prepare and issue distributions to the beneficiaries

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• Compile and prepare trust accounting records in an appropriate format  

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• File trust tax returns along with supplementary slips and statutory documentation

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• Providing periodic reports to the beneficiaries on the administration of the trust

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• When the trust is terminated, distribute the remaining assets to the named beneficiaries

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