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Family Trust Law in British Columbia

Hours Updated onMarch 31, 2025 Categories Vancouver
Family Trust Law in Vancouver

Family Trust Lawyers in British Columbia

Family trusts are attractive options for business owners and entrepreneurs looking to protect their assets and transfer wealth to their children effectively. In addition to potential tax advantages, family trusts can help secure your assets from creditors. The family trust experts at Vest Estate Law can guide you through the establishment of a family trust and assist in creating your trust agreement.

What is a family trust in British Columbia?

A family trust, like any other trust, is a legal entity that holds assets or property on behalf of third-party beneficiaries. Trusts are versatile and can be set up in various ways, but all family trusts aim to protect the interests of family members, despite the term “family trust” not having a specific legal meaning.

Who are the main participants in a family trust?

The main participants in a family trust are:

  1. The settlor – the person who creates the trust by transferring assets.
  2. The trustee(s) – representatives who are the legal owners of the trust’s assets, responsible for managing and allocating assets to beneficiaries according to the trust agreement.
  3. Beneficiary/beneficiaries – those who receive the assets from the trust, such as family members holding shares in a family business.

What are the main benefits of starting a family trust?

Family trusts offer several benefits:

  1. Effective transfer of wealth to children
  2. Lower taxes through income-splitting and estate tax reduction
  3. Asset protection from creditors in lawsuits or bankruptcy proceedings
  4. Confidentiality of trust information

How do you establish a family trust in British Columbia?

Establishing a family trust in British Columbia involves the following steps:

  1. Create the trust agreement with relevant clauses
  2. Bring the trust into legal existence with an irrevocable donation of property
  3. Register the donation
  4. Open a bank account in the trust’s name
  5. Transfer assets into the trust
  6. Ensure the trustee performs administrative duties

The family trust experts at Vest Estate Law can assist you with each step in establishing your trust.

Are you considering a family trust?

Due to the complexities involved in creating trust agreements that accurately reflect your goals, it is advisable to seek legal counsel before establishing a family trust. At Vest Estate Law, we can advise and help you set up your trust correctly. Begin with a one-on-one consultation with one of our trust lawyers, who will analyze your situation and recommend the type of family trust that best suits your needs.

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Our Vancouver intake staff are standing by to help you. Call (604) 256-7152 [toll free 1 (877) 415-1484] or contact us online to schedule an appointment.

We also have a dedicated intake form to help you get the ball rolling. Our intake team will review your specific case and advise you on the next steps to take, as well as what to expect moving forward.

Our Vancouver office is open 8:30 a.m.—4:30 p.m., Mon—Fri.

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Nathaniel Mcghie - Vest Estate Law

Nathaniel Mcghie

WILLS and ESTATES LAWYER

Nathaniel Mcghie is a lawyer in our Vancouver office. Nathaniel is experienced in representing clients and providing legal advice on estate law matters. He is sought after by both individuals and corporations for legal representation.

  • Learn More About Nathaniel
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Estate Administration (for Executors and Administrators)

Includes all aspects of finalizing an estate, dealing with the assets and debts of an estate and distribution to beneficiaries.
Many personal representatives (executors) request that estate administration lawyers administer the estate for them.

Estate Litigation (Dispute Resolution)

Estate litigation includes dispute of a will,  making a claim against the estate as a spouse of the deceased, disinheritance, or if you think there has been undue influence in the process of making a will.

Our estate litigation lawyers act for personal representatives (executors), administrators, beneficiaries, spouses and adult interdependent partners (“AIP”) of a deceased individual.

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  • Areas of Estate Law
    • Estate Administration
      • Grant of Administration
    • Estate Planning
      • Enduring Power of Attorney
      • Personal Directives
      • Will Planning
    • Estate Litigation
      • Contesting a Will
      • Elder Law
      • Estate Mediation
      • Estates & Trusts
      • Guardianship & Trusteeship
    • Grant of Probate
    • Advanced Care Planning
    • Business Owner Retirement Planning
    • Business Succession Planning
    • Charitable Giving
    • Digital Assets Upon Death
    • Testamentary Trust
  • Locations & Team
    • Meet Your Team
    • Locations
    • Contact Us
  • Knowledge Centre
    • Alberta Family Law
    • Estate Planning Info
    • Wills Deep Dive
    • Estate Administration
    • Probate Help
    • Calgary Articles
    • Edmonton Articles
    • Vancouver Articles