Using Trusts – Are You Safe?

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    Trusts are valuable financial, tax, and estate planning tools, and can also allow one to ‘shelter’ assets from the public order rules in the context of family law through asset protection trusts. However, the transfer of some assets forming part of the family patrimony or partnership of acquests into a trust during a marriage or civil union does not automatically remove them from the application of the rules found in the Civil Code of Québec, says Antoine Vézina-Crawford, of Lavery, in his article, ‘Using A Trust In The Context Of Family Law: Are You Really Safe?’ He says although a trust may be an interesting mechanism, particularly for protecting assets, it must be noted that it must be used in compliance with family law public order rules. To read the full story, visit Protection Trusts