Set up an Irrevocable Discretionary Trust
with this template trust deed for Canada.
- This form of trust is also called a blind trust.
- The settlor (the person setting up the trust) is the sole beneficiary of the trust.
- The division date will occur either upon the death of the beneficiary or on the 21-year anniversary of the establishment of the trust, whichever is earlier.
- The settlor reserves no powers or rights, and shall receive no benefits, income or capital of the trust fund in his/her capacity as settlor.
- The settlor may not act as a trustee.
- During the lifetime of the settlor, no income or capital of the trust shall be distributed to the settlor's spouse or a minor child of the settlor unless such distribution would not result in attribution of income or gain to the settlor for purposes of the Income Tax Act (Canada).
This Canada Irrevocable Discretionary Trust Deed
template is provided in MS Word format, and is fully editable to meet your needs.