knowledge topics

Inter Vivos Trust

Define an inter vivos trust.¹
Identify that the terms of an inter vivos trust may be established through the trust document.
Explain the purpose of types of inter vivos trusts.
- Spousal or common-law partner trust
- Joint spousal or common-law partner trust
- Alter ego trust
- Family trust
- Asset protection trust
- Charitable remainder trust
- Cross-border trust
- Secret trust
Identify the Canada Revenue Agency’s requirements for an inter vivos trust to qualify as a spousal or common-law partner trust.²
Identify the Canada Revenue Agency’s requirements for an inter vivos trust to qualify as a joint spousal or common-law partner trust.³
Identify the Canada Revenue Agency’s requirements for an inter vivos trust to qualify as an alter-ego trust.⁴
Identify for whom an inter vivos trust may be suitable.
Explain how each of the factors may impact the suitability of establishing or maintaining an inter vivos trust, such as:
- Tax impact
- Bypassing of probate
- Privacy
- Protection from creditors
- Needs of beneficiaries and/or dependents
- Control of assets
- Time horizon
- Costs
- Administration
Evaluate the factors to that may impact the suitability of establishing or maintaining an inter vivos trust.

Define

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Identify

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Explain

To make clear the meaning of / to describe something in more detail or reveal relevant facts or ideas related to it
Compare

To note the similarities and differences between two or more things
Estimate

To determine an approximate value for
Calculate

To find the value using mathematics
Convert

To change from one form or purpose to another
Evaluate

To reach a conclusion or make a judgement through careful study
Interpret

To give the meaning of / to construe or understand / to translate orally

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