Irrevocable Discretionary Trust Deed | Canada

A discretionary trust is also called a blind trust because the beneficiary has no information about the assets in the trust or how the trust is administered.
The settlor (the person setting up the trust) is the sole beneficiary of the trust and cannot act as a trustee.
The division date will occur either upon the death of the beneficiary or on the 21-year anniversary of the establishment of the trust, whichever is earlier.
The settlor reserves no powers or rights, and shall receive no benefits, income or capital of the trust fund in his/her capacity as settlor.
This trust cannot be revoked.
During the lifetime of the settlor, no income or capital of the trust shall be distributed to the settlor's spouse or a minor child of the settlor unless the distribution does not result in attribution of income or gain to the settlor under the Income Tax Act (Canada).
This Irrevocable Discretionary Trust Deed is a good strategy to use when it's important that the beneficiary not be aware of what assets are held in the trust so as to avoid any claims of conflict of interest.

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Microsoft Word

Last Updated: 03-March-2025

SKU: 44

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Trustee resolutions naming the records office, appointing the accountants, and confirming the acts of the trustees.
Trustee resolutions resolving that all income allocations and expense payments required to be made have been or will be made for the year, and that the trust will not be liable for income tax under Part 1 of the Income Tax Act (Canada).
This forms package is a downloadable MS Word file containing all of the resolutions. Fully editable and easy to use.
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The package contains the following:
- Appointment and Replacement of Trustee form.
- Consent to Act as Trustee.
- Resignation of Departing Trustee.
- Trustee Resolutions to be signed by the new trustee and the remaining trustees.
This forms package is a downloadable digital product. All forms are contained in one file.
Intended to be used only in Canada.

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The package contains the following forms:
- Irrevocable Trust Agreement,
- Consent of Proposed Trustee, which must be signed by each of the designated trustees,
- Resolutions of the Trustees establishing the trust,
- Receipt for the initial trust property,
- Promissory Note,
- Register of Trustees.
The trust will be an irrevocable discretionary trust.
The division date will be the first to occur of (i) the date of the principal or (ii) the day before the 21st anniversary of the execution date of the trust agreement.
The agreement provides for the incapacity of a trustee or a beneficiary.
The settlor will derive no income or capital or other benefit from the trust.
The settlor cannot act as a trustee.
The settlor cannot revoke the trust.
For the purposes of the Income Tax Act, the trust can only be resident in Canada.
The trustees will be indemnified and held harmless against claims, losses and damages in connection with their acting as trustees. The indemnities and protections afforded to any trustee under the agreement will continue to run even if the trustee ceases to hold the position of trustee.
No distributions of capital or income shall be made at any time that there are less than two trustees in office.
Available in MS Word format, fully editable.
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A share exchange of this nature is done as part of a corporate reorganization.
The parties to the Share Exchange Agreement are the corporation and all of the shareholders.
The shareholders agree to exchange their existing shares for new shares of a particular class following the reorganization.
The template also includes Directors and Shareholders Resolutions which are required to authorize the share exchanges.
Intended to be used only by corporations incorporated in Canada.

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