LIFESTYLE & LEISURE: Private Trust Services

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TD Canada Trust Offers More than Just Banking Services

Tuesday, January 20, 2009

Gina Monaco

Banks are best known for savings and chequing accounts and a place to get a mortgage or a consumer loan. There is another service that customers probably don’t know much about and that is private trust and trustee services. Usually thought of as the domain of lawyers, trust services have been offered by trust companies for over 150 years. Your local TD Canada Trust is one of the companies providing these services to families through their Private Account Services department.

Trust services include acting as executor of a will, having power of attorney should a client lose mental or physical capacity, and acting as the trustee to look after assets for the beneficiary.

There are a variety of situations where a client would need TD Canada Trust to provide these services. For example, if you have a spouse and young children and your family is in another country, you have to plan on what to do if something should happen to the two of you.

“You might not want to leave the work of settling your estate and managing the estate for younger children solely to family members who are in another country,” explained Kathy Wakil, Private Account Executive at TD Canada Trust located at the Upper Oakville Shopping Centre. “You could appoint the Canada Trust company to act in that capacity so if something did happen you have the peace of mind that we will look after your family for you.”

Losing a family member is a highly emotional time and sometimes dealing with all the paperwork needed by government and all the legal issues that arise, plus dealing with the emotions of other family members can be quite challenging. “The Trust company can work alone or alongside a family member,” Wakil added.

Services are also provided for those who are still alive but have lost some of their capacity to deal with everyday financial issues such as paying bills. And because TD Canada Trust has offices right across Canada, an aging parent, for example, can access these services and the son or daughter who lives in another province can have direct access to the account manager.

“We have the same level of expertise right across Canada,” Wakil said. “It’s knowing that someone is working with you and your family who can balance the emotional, the practical and the legal issues with a reliable company behind them.

For more information visit you local branch or visit www.tdcanadatrust.com

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