Every person’s financial and family situation is unique, which is why MacMillan Estate Planning takes a bespoke approach to the transfer of assets among spouses and common-law partners. Whether you have real estate investments, traditional investments or other assets, MacMillan’s Secure Joint Partner Trust is an estate planning tool for Canadians aged 65 and older, designed for the tax and probate-free transfer of assets to a spouse or common-law partner.
Why consider the Secure 65 Joint Partner Trust?
For Canadians over 65, the traditional route of using a Will to transfer assets comes with its own set of challenges, such as probate fees, taxes and lengthy processes. The Secure 65 Joint Partner Trust offers an efficient alternative that provides several financial and legal advantages, including:
- Tax and probate free transfer of assets
When you transfer assets to your spouse or common-law partner through the Secure 65 Joint Partner Trust, the Canadian Income Tax Act will not trigger taxes or probable fees, saving your estate and heirs considerable time and money.
- Ongoing control of your assets
A key benefit of the Secure 65 Joint Partner Trust is that it allows you to maintain control over your assets throughout your lifetime. Unlike some other forms of Trusts, the Secure 65 Joint Partner Trust gives you the flexibility to manage, use or even sell assets as needed. This means that you can continue to enjoy your lifestyle, knowing that your spouse or partner is protected, no matter what happens in the future.
- Safeguarding against creditors and legal claims
Assets placed in the Secure 65 Joint Partner Trust are generally shielded from legal disputes, ensuring that they are not vulnerable to external threats. This can provide much-needed security for you and your partner, especially in uncertain economic times and during life’s most challenging moments.
- Avoiding the probate process
The Secure 65 Joint Partner Trust bypasses probate entirely, which means that your spouse or partner can inherit your assets quickly and privately upon your passing. Avoiding probate can save your estate substantial costs and keep your financial affairs confidential.
For Canadians aged 65 and older, the Secure 65 Joint Partner Trust provides an excellent alternative to a traditional Will, offering tax-efficient, probate-free asset transfers. MacMillan Estate Planning’s unique approach ensures that your Trust is tailored to your specific needs, providing financial protection and peace of mind while safeguarding your significance.
Secure your financial future today. Contact us today at 1-833-266-6464 or schedule a complimentary consultation online at HERE.
