A family trust could be the right home for your family cottage
A family trust can be a beneficial way to manage and pass down a cottage to future generations. It separates ownership from use, potentially deferring taxes and protecting the property from creditors. However, setting up a trust may not be suitable for every cottage owner, and professional advice is recommended.
- ▪A trust is a legal relationship involving a settlor, trustee, and beneficiaries.
- ▪Setting up a trust can help avoid probate fees and separate ownership from use.
- ▪Transferring a cottage to a trust may trigger tax implications, so consulting a tax professional is advised.
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| Original publisher | The Globe and Mail |
| Canonical URL | https://www.theglobeandmail.com/investing/personal-finance/taxes/article-family-trust-cottage-inheritance-benefits/ |
| Publication time | Thu, 21 May 2026 10:00:00 +0000 |
| Retrieval time | 2026-05-21T10:06:10.479Z |
| Last seen | 2026-05-21T10:06:10.479Z |
| Headline source | Publisher (no WeSearch rewrite) |
| Excerpt source | publisher body |
| Excerpt method | First ~120 words (~800 chars) of extracted publisher body, fair-use limited. |
| Summary | WeSearch · cerebras-chat (WeSearch summarizer) |
| Summary source text | contentText |
| Citation coverage | Summary is a WeSearch-generated derivative; primary citation is the original publisher URL. |
| Cluster | Op6GqEZBOxS9 |
| Cluster logic | Grouped by semantic title/content similarity across sources within a rolling window. Same-publisher template collisions are excluded from coverage comparison. |
| Ranking reason | Story pages are not engagement-ranked. Hub feeds use recency, with optional source-diversified chronological ordering (cap consecutive stories per source). No personalized ranking. |
| Publisher visit | Yes — open original |
| Substitutes article? | No — link-out required for full text |
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| Indexing | May the item be indexed (stored, ranked, made findable)? | Allowed |
| Snippet | May a short excerpt of the publisher's text be shown? | Allowed |
| AI summary | May WeSearch generate its own short summary of the article? | Limited |
| Retrieval / RAG | May the content be exposed for third-party retrieval-augmented generation? | Not asserted |
| Model training | May the content be used to train AI models? | Not asserted |
| Commercial reuse | May the content be reused commercially? | Not permitted |
Basis: Derived from the published RSS/Atom feed. Contact: [email protected]. Reviewed: 2026-07-24.
Opening excerpt (first ~120 words) tap to expand
Open this photo in gallery:Boathouses on Lake Muskoka near Port Carling in July, 2025. If you want to defer taxes or protect your cottage from mismanagement or potential creditors, a trust can work, writes Tim Cestnick.Fred Lum/The Globe and MailShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountOne of the things I appreciate about our cottage is the skylight. Okay, it’s actually a hole in the roof and it’s not supposed to be there. But a guy is coming on Friday to fix it – and the tree that fell creating the problem has already been cut up for firewood.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Globe and Mail.
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