In-Trust Accounts

Save without restrictions for your child's higher education.

Take advantage of the tax benefits to save even faster

An In-Trust Account can be a great way to save for a child’s post-secondary education. The investor, commonly known as the trustee, manages money or other assets for a child (the “beneficiary”) until the child reaches the age of majority. At that point, the trustee can make any necessary arrangements for the money to become available to fund the child’s schooling.

There may be tax advantages too! With a properly structured account, your child may pay taxes on the growth or capital gain in an in-trust account. Since your child will probably have a lower taxable income than you, he or she could be taxed at a lower rate, and possibly pay no tax at all.

Key benefits of an In-Trust Account

  • Keeps you on track with your current financial affairs
  • Helps with planning for retirement
  • Allows you to be better equipped for emergencies
  • It starts by downloading and completing a detailed Financial Planning Questionnaire

You should know that, as the donor, you will be taxed on all income including interest, dividends, foreign, and other income if earned while you are a resident of Canada during the applicable year.

The Value of Advice

Canadians with financial advisors are more confident  about their future.

Need Advice?

Are you reviewing your education savings plan? We encourage you to contact us to arrange a no-obligation meeting to discuss your options.

Need Advice?

Are you reviewing your education savings plan? We encourage you to contact us to arrange a no-obligation meeting to discuss your options.

Client Relationship Document

We’ve developed a plain-language document that describes the relationship between you and your GP Wealth Financial Advisor or Planner.

GET ON-LINE ACCESS

To obtain access to your accounts, email us or contact us at 1-800-608-7707 ext. 242.

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