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mcd80
u/mcd80
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In BC, is a discretionary trust for a beneficiary who has a disability set up at each financial institution or is the trust more if an overall legal structure for handling assets? For example, a trust already exists with assets at RBC. Can the trustee open an account at Questrade on behalf of the existing trust and fund it or transfer assets? Or does an entirely new trust need to be set up?
I'm just learning about trusts for people with disabilities so ELI5. Thanks!
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Mortgage renewal is coming up and I'm trying to decide if it's better to roll a HELOC of $60k into the amortized mortgage (15 years at about 4.5%) or pay off the HELOC from TFSA that's currently invested in VGRO. Is the guaranteed 4.5% return worth it vs tax-free compound growth in the TFSA?
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