Spousal Trusts: Protecting Your Spouse and Preserving Your Legacy

A spousal trust can be a valuable estate planning tool in Alberta, particularly for individuals who want to provide for their spouses while preserving assets for future beneficiaries. It ensures that the surviving spouse still has financial security during their lifetime, with assets managed and protected by a trustee, reducing the risk of mismanagement or external claims.

This can be especially useful in blended families, where the goal is to support a current spouse while ensuring children from a previous marriage eventually inherit assets. Additionally, spousal trusts offer potential tax deferral benefits, as assets can transfer on a tax-deferred basis, delaying capital gains tax until the surviving spouse passes away.

If you want to explore whether a spousal trust is right for your estate plan, feel free to contact our law firm.