Clients can follow the standard Account Opening Process and select the Trust account type at the start. The client will need to notify us that the account is to be opened as an Informal Trust and will need to provide the following information for the beneficiary child:
- Full name
- Date of birthÂ
- SIN
Once the beneficiary reaches the age of majority, a new Individual account will be opened for the child and the assets will be transferred from the Informal Trust to the new account.