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A lot of people talk about the benefits of a trust. Very few explain how to actually open one! To set up a trust, you need three roles: a Settlor, a Trustee, and a Beneficiary. After that, a lawyer creates the trust deed and establishes the trust. You then open a bank account in the trust’s name, get a CRA trust number, and file a trust tax return every year. Planning always matters more than just knowing the benefits! #realestateinvesting #canada #trust #tax #finance
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