Trust Funds - How to Manage by Kirushanth Kaneshathasan https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5 en-us 2021-03-30 03:21:44 UTC 2026-01-30 21:16:27 UTC hello@padlet.com Introduction kirushanth4444 https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366576242 Welcome! For this pallet I will be discussing about Trust Funds. I have chosen Trust Funds as I have always been interested in how they work and how they are managed by institutions. 

]]> 2021-03-30 03:22:50 UTC https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366576242 Videos kirushanth4444 https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366576684 2021-03-30 03:23:02 UTC https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366576684 Video #1 - The workings of a Trust Fund kirushanth4444 https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366577152 In the video, it goes over the basics of how trust funds work which is great for younger people and people who are thinking about trust funds. It gives you information on what you can set your trust funds up for and when it is a good idea to set one of up. 

I chose this video as this gives a brief idea of what trust funds are and what they can be used for. The video being short in length aids it as most people who want to get a brief understanding most likely will invest time in a longer video.  

]]> 2021-03-30 03:23:16 UTC https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366577152 Video #2 - How can trusts help protect assets kirushanth4444 https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366579670 This video goes in depth with how trusts can be used to help protect family assets after the grantor’s passing. It also goes into the benefits of the two types of trust, such as bare and discretionary trust. The bare trust is fixed, which means the beneficiary will get a set amount regardless of any changes or terms that cannot be met. Discretionary trust is flexible which can change depending on any changes to the terms the grantor has requested. 

I chose this video as it gives a better idea into what type of trust you can set up and understand what each type of trust is for.





]]> 2021-03-30 03:24:34 UTC https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366579670 Video #3 – Protect Your Assets Using Trust Funds kirushanth4444 https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366588859 Andrei Jikh’s video about Trust Funds is well produced, insightful video. He goes into why you should set a Trust Fund up by giving examples of what happens when you do not. He briefly reviews what a trust fund is and goes in depth with the 5 documents you will need to set up a trust fund. The 5 documents are as follows: Last Will and Testament, Durable General Power of Attorney, Healthcare Power of Attorney, Living Will and Living Trust. 

These documents are essential in creating a trust and that's why I chose this video.]]> 2021-03-30 03:28:45 UTC https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366588859 Video #4 – How Do Trusts Get Taxed? kirushanth4444 https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366593307 This video goes over how trust funds get taxed. There are two ways of putting trusts and assets into the trust fund: revocable and irrevocable. Revocable trust fund allows you to take assets you have put into the trust. Irrevocable trust fund does not allow the grantor to take the assets out.

I chose this video as it gives a brief idea as to how trust funds are taxed and what situations you may end up in depending on which type of trust you choose.

]]> 2021-03-30 03:30:55 UTC https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366593307 Websites kirushanth4444 https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366594524 2021-03-30 03:31:32 UTC https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366594524 Website #1 - What are Trust Funds? kirushanth4444 https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366594924 This website illustrates and goes into detail on what Trust Funds are. It gives a detailed answer to 4 of the main questions that most people will ask when researching about Trust Funds: What is a Trust Fund? Who uses one? How does it work? How people can set one up.

I chose this website as it answers most of people's questions who are looking into opening a trust fund or attempting to understand why it is beneficial to open one.

]]> 2021-03-30 03:31:44 UTC https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366594924 Website #2 - How to setup your family trust in Canada kirushanth4444 https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366598463 For this website, it shows the steps on how to setup a family trust. There are three conditions that have to be met before a trust fund can be opened. After, the name of the trust, grantor’s name, trustee and date of publication must be put into a deed to make it official. 

I chose this website as it labels what processes need to be done before one can open a trust fund. This is beneficial for people wanting to open a trust fund for the first time. 

]]> 2021-03-30 03:33:35 UTC https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366598463 Website #3 - Tax Examinations kirushanth4444 https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366602408 This website links to a webinar and gives a transcript of the webinar. The webinar goes into detail of how the Canadian Revenue Agency will examine the tax of the business of the grantor. It covers the topic of what to expect for the examination, what your tax obligations are, what trust accounts will be examined, and what happens while and after the examination.

 

I chose this website as it is good to know what the CRA will look for. It can help ease some stress when the examination happens, and it is good to know what to keep up to date on.
]]> 2021-03-30 03:35:35 UTC https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366602408 Website #4 - Types of Trusts CRA kirushanth4444 https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366603841 This website lists what types and codes there are for trusts that the Canadian Revenue Agency recognizes. For every trust, the CRA lists the prerequisites for each trust. 

]]> 2021-03-30 03:36:18 UTC https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366603841 Images kirushanth4444 https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366615869 2021-03-30 03:42:47 UTC https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366615869 Images #1 - Types of Trust Fund kirushanth4444 https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366616391 2021-03-30 03:43:07 UTC https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366616391 Link kirushanth4444 https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366619550 2021-03-30 03:45:00 UTC https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366619550 Images #2 - Revocable vs Irrevocable Trusts kirushanth4444 https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366622734 2021-03-30 03:46:57 UTC https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366622734 Link kirushanth4444 https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366624072 2021-03-30 03:47:45 UTC https://padlet.com/kirushanth4444/ytpk6vs45g3eovu5/wish/1366624072