Investment Executive, "Expanded reporting rules for bare trusts have estate practitioners uneasy"
Brittany Sud is quoted in an Investment Executive article that delves into the federal government’s proposal to expand trust reporting rules to cover “bare trusts”.
Bare trusts are also used to mitigate or plan around the relatively high estate administration tax (a.k.a. probate tax) in Ontario, said Brittany Sud, an associate with Miller Thomson LLP in Toronto.
Sud said if the draft legislation is enacted, clients might have to reconsider the benefit of such structures in light of the new compliance requirements.