Family Trust Explained | Why or Why You Shouldn't Use One

In movies and shows we hear the term "Trust Fund Baby" all the time, but just what IS a trust? Many people perceive family trust as an ultra rich concept with mysterious features, but actually its feature is a lot easier to understand in reality. In this video I will be taking everyone through the basics of a family trust, what is it, how is it set up, and in what situation a trust can be useful. Hopefully with family trust explained you have a better idea if you should be considering one!
This is not financial advise, speak to your advisors!
#canada #estateplanning #finance
▼ Time Stamps
[0:00] Start
[0:54] Common estate planning tool #1: Using a will
[2:29] Common estate planning tool #2: Using a beneficiary
[3:49] What is a trust basically
[4:02] Basics of a trust
[5:25] The structure of a trust
[6:53] Scenario #1: Controlling assets
[9:13] Scenario #2: Corporate estate freeze
[10:53] Scenario #3: Corporate sale in future
[12:53] Pros & cons of a trust
[14:35] Other notes to keep in mind
[15:11] What to consider when thinking of setting up a trust
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