Difference between revisions of "Probating the Will"

A trust is a part of your estate that is set aside in your Will for a beneficiary, most often a child. For small or simple estates, the executor is often also the trustee. In larger or more complicated estates, there may be a different trustee, such as a trust company.

If you are acting as trustee, you are responsible for making sure that all the assets are invested or kept in a safe place, and for filing annual trust tax returns. You are also responsible for making payments to the beneficiary of the trust as directed by the Will. You can get help with these tasks from a lawyer or an accountant. Contact Revenue Canada for a copy of the booklet called “T3 Trust Guide”:<br/>