Here are examples of a bare trust arrangement: - a child on title of a parent’s home (without the child having beneficial ownership) for probate or estate planning purposes only; - a parent on title of a child’s property (without the parent having beneficial ownership) to assist the child in obtaining a mortgage; - one spouse being on title of a house or asset although the other spouse is at least a partial beneficial owner; - a parent or grandparent holding an investment or bank account in trust for a child or grandchild; - a corporate bank account opened by the shareholders with the corporation being the beneficial owner of the funds; - a corporation being on title of an individual’s real estate, vehicle or other asset, and vice-versa; - assets registered to one corporation but beneficially owned by a related corporation - use of a nominee corporation for real estate development purposes; - a property management company holding operational bank accounts in trust for their clients, or individuals managing properties for other corporations holding bank accounts for those other corporations; - a lawyer’s specific trust account (while a lawyer’s general trust account would largely be carved out of the filing requirements, a specific trust account would not); and - a partner of a partnership holding a bank account or asset for the benefit of all the other partners of a partnership. #Canadiantax #tax #taxtok #canada #taxstrategy #taxplanning #taxadvice #cpa #big4 #pwc #deloitte #kpmg #ey #mnp #tfsa #rrsp #fhsa #business #entrepreneur #smallbusiness