Estate planning

Hi, In the event of the passing of my parents, is it possible to transfer all their assets into a corporation or trust which manages them through that vehicle? (under the assumption that this is in their will)


Asked 21 days ago in Toronto, Ontario
Categories: Real Estate  Wills, Estates, Trusts  Corporate/Commercial  Business Law  Family Law

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Sabina Mexis

Answer by Sabina Mexis

VerifiedOntario lawyer

If both of your parents pass away, then the assets are distributed to the beneficiaries in accordance with the provisions of their last Will, if any.  It's not clear if you are asking whether the executor has the power to transfer their assets into a corporation or trust prior to delivering the assets to the beneficiaries, or afterwards.  It's also not clear from the question what the objective is in transferring the assets to a corporation or trust.  It is possible to engage in tax and estate planning, either pre or post-mortem using a corporation and/or a trust.

Posted 21 days ago

Sabina Mexis is a tax and estate lawyer at Axios Law, specializing in tax and estate planning for high net worth individuals. Call Sabina at 416-447-4334 or email sabina.mexis@axioslegal.com. 

Please note that this is for informational purposes only and does not constitute legal advice to you. Legal advice pertaining to your particular situation can only be provided by a lawyer who has met with you to obtain all pertinent background information necessary to give you a formal legal opinion. For formal legal advice, hire a lawyer (many give a free first consultation). Contact Sabina Mexis, or search the Lawyer Directory.

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