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| ASSET PROTECTION |
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| There are a number of techniques available to legally protect assets from seizure. Anyone with a large estate, and particularly with an involvement in commerce, should consider protecting themselves from the evolution of "deep pockets" litigation. |
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| Incorporation structures: single-corporation, or sibling corporations, and parent-child structures, depending on the circumstances. |
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| Principal Residence Trusts to safeguard a major personal asset from the risk of seizure from creditors, and to avoid probate taxes, and to simplify succession issues upon death. Personal use real estate should not be owned by a corporation, as the Principal Residence exemption offered under the Income Tax Act to individuals is not available to corporations; but it is available to a Trust. |
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| Personal Use Trusts to safeguard investments and liquid assets from the risk of seizure from creditors, and to avoid probate taxes, and to simplify succession issues upon death. |
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| Cottage Trusts to safeguard this asset from the risk of seizure from creditors, and to avoid probate taxes, and to simplify succession issues upon death. |
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| Family Trusts to hold title to corporate shares to allow future growth to accrue to family members, while retaining control of the corporation to the donor. |
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