Document background
The Trust Operating Agreement serves as the primary governance document for trusts established under Canadian law, providing essential operational guidelines and administrative procedures. This document is crucial when establishing a new trust or updating the management structure of an existing trust, particularly in cases involving complex assets, multiple trustees, or sophisticated investment strategies. The Trust Operating Agreement details everything from basic trust administration to complex decision-making processes, ensuring compliance with both federal and provincial trust laws while protecting the interests of all parties involved. It's particularly valuable for professional trustees, trust companies, and family offices managing substantial assets, as it provides clear protocols for trust management, risk mitigation, and succession planning.
