This story was originally published by RBC Wealth Management.
Did you know?
- There are two basic types of trusts: one that is active while you’re alive and one that starts after your death.
- Trusts allow you to benefit individuals or charities while maintaining a degree of control over your assets.
- A trust can span several generations; a trust company will be there for current and future beneficiaries.
Check out this video to see David Chilton, author of best-selling personal finance guides The Wealthy Barber and The Wealthy Barber Returns, and former dragon on CBC’s Dragons’ Den, explains what trusts are and why he thinks they are underutilized. The video is produced in collaboration between RBC Wealth Management Royal Trust and David Chilton.
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