Green Box Trust Firm has been providing clients personalized tax and accounting services throughout Canada since 2006. With our certified training and expansive financial knowledge, we are equipped to handle all of your accounting needs, no matter how complex. Whether you require assistance at the corporate or personal level, we are ready to serve as your tax planners and accounting advisors.

Trust

Trusts are recognized as one of the most flexible and versatile vehicles for holding and managing assets.

Trust Funds are often and quite wrongly associated only with the wealthy. In reality a trust fund can be an effective financial tool for lots of people in a huge number of scenarios.

What is a Trust?

A Trust is a device by which Trustees can hold property or assets of some kind for the benefit of a specific person, group of people or organization known as the beneficiary or beneficiaries. The person creating a Trust is called the grantor, donor or settlor.

When a Trust is established, an individual or corporate entity is designated to oversee or manage the assets in the Trust. This individual or entity is called a Trustee. A Trustee can be a professional with financial knowledge, or even a relative or loyal friend. It can also be a corporation.

There are pluses and minuses to each type of Trustee. An individual Trustee may provide a more personal touch. A corporate Trustee may be less personal but provides experience, investment skills, permanence and impartiality. More than one Trustee can be named by the grantor if he or she wishes.

The fact that Trusts have existed as a vehicle for many centuries is a testament to its flexibility and usefulness in all types of tax or succession planning. Today’s concept of Trusts is so flexible that they can be used, and are used, in a wide variety of ways and for many different purposes.