What is Probate?
Probate is the court process that validates a person’s last will and testament and gives the executor legal authority to settle the estate. It can involve delays, costs, and public disclosure of personal and financial information.
3 Benefits of an Alter Ego Trust:
- Reduces Probate Fees – When assets are transferred to an alter ego trust, the trust becomes the legal owner. Upon death of the settlor, the assets bypass the estate and are excluded from probate fees.
- Improves Efficiency – Assets in an alter ego trust do not go through probate and can be distributed more quickly. The Trustee can act without waiting for court approval, allowing for a more efficient and timely settlement of the estate.
- Preserves Confidentiality — Probate is a public process, meaning the details of your estate can be made public. For many, complexities arise due to second marriages, blended families, or personal promises made to loved ones. A trust keeps those details private.
An alter ego trust helps avoid probate-related costs, delays, and disclosure. It offers a smoother, more efficient, and discreet transition of wealth for high net-worth families.
❗Probate rules and fees vary by province and territory—be sure to consult your lawyer to understand how the rules apply in your jurisdiction.