Additionally, family trusts can be used to reduce estate taxes, protect assets from divorce or bankruptcy of beneficiaries, and provide for the care of beneficiaries with special needs. It is important to consult with an attorney or financial advisor to determine if a family trust is appropriate for your individual situation. The board can have various powers and responsibilities, depending on the terms of the trust agreement. It’s important to consult with a legal professional to ensure that the decision board is properly established and operates in accordance with the trust agreement and applicable laws.
Nowadays, it seems as though the entire city of Toronto has become one large construction site. For the better part of a decade, there has been a steady increase in residential projects, from townhouses and subdivisions to luxury custom homes, and not to mention the countless condominium projects still sprouting up all over the city. Of course, all of the various construction projects have also resulted in varying degrees of success and quality, with some projects selling out quickly, and promptly providing buyers with a high-quality finished product, while others have experienced delays, were cancelled altogether, or did not live up to the buyers’ expectations upon possession.
