An arrangement where a trustee holds property for beneficiaries.
In Islamic law
Waqf is the closest classical institution, though a waqf is perpetual and charitable in character while a Canadian trust is usually neither.
In Canadian law
Trusts can be created during life or by a will. They are used to hold property for minors, to provide for a dependant with a disability, and to manage tax.
We have not yet researched whether the four Sunni schools differ on this term, so we are not going to tell you either way. Where a specific case turns on it, ask a qualified scholar rather than relying on a general summary.
Canadian legal detail
Treadstone Law, an Ontario firm with a wills and estates practice, covers the Canadian side of this in more depth:
- Distributing trust property to beneficiaries tax free canada
- Who holds deposit in trust ontario real estate
- Henson trust ontario disability
This is legal information only. For advice on your own circumstances, speak to a lawyer.
Citations & sources
Every factual claim on this page traces to a source below. Details change — check the original source before relying on any figure, fee or legal position. Anything under “further reading” is related material, not a source for what is stated here.
- Distributing trust property to beneficiaries tax free canada — Treadstone Law
- Who holds deposit in trust ontario real estate — Treadstone Law
- Henson trust ontario disability — Treadstone Law
- Estate trustee refuses provide vouchers receipts ontario — Treadstone Law
- Wills & estates practice — Treadstone Law