When a trust (an asset protection trust with a single beneficiary who is also the decision-making administrator; the beneficiary's spouse is the second administrator) is assessed by the government, can the trust's administrators be held liable and required to pay the debt? Note that the trust's resolutions clearly state that only one of the administrators made all the decisions. Should the administrators be held liable, can the second administrator be required to pay despite not making any decisions?
I'm not a trust specialist. But if the principle is the same as for a company, all directors are liable for tax debts, even if they have limited involvement.
The tax debts for which directors are liable include payroll deductions and sales taxes (GST and QST), but not income tax.
Don't hesitate to consult a lawyer.
The tax debts for which directors are liable include payroll deductions and sales taxes (GST and QST), but not income tax.
Don't hesitate to consult a lawyer.
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