Brigitte and her husband spent two decades building a rental portfolio. When they finally sat down with an estate lawyer, they learned their assets would pass through probate — a process that would cost roughly $18,000 in Ontario and take over a year. Nobody had mentioned trusts earlier.
What does a family trust actually do that a will cannot?
A trust moves assets outside your estate entirely. When drafted correctly, it sidesteps probate fees, keeps distribution terms private, and allows you to set conditions — such as a child receiving funds at 30 rather than 18.
Is a trust only for high-net-worth families?
Not necessarily. Families with a primary residence, a cottage, or a small business frequently benefit because multiple properties each trigger separate probate calculations in provinces like Ontario and British Columbia.
The spousal trust angle most couples miss
A testamentary spousal trust lets assets transfer to a surviving spouse tax-deferred on death. The surviving spouse gets income for life, but the capital ultimately passes to children — preventing it from going to a new partner if the spouse remarries.
Are there ongoing costs to maintaining a trust?
Annual accounting runs between $1,500 and $3,500 depending on complexity. For estates above $500,000 with multiple beneficiaries, that cost is often recovered in the first year through avoided probate fees alone.
The decision point is straightforward: if your estate has more than one registered or real property asset, model the probate cost first before assuming a will is sufficient.