Why use a bullion or a silver coin to establish a trust? | ScriptaLegal
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Frequently asked questions > Company > Trust > Why use a bullion or a silver coin to establish a trust?

Why use a bullion or a silver coin to establish a trust?

The gift must be made from a single easily identifiable item of property which is handed to the trustees for preservation purposes. Keep in mind that you must be the owner of the property to be able to give it. Bullion and silver coins are numbered and clearly identified, that is why they are often used for this purpose.

Note that even if it can be identified by its number, it is not recommended to use a banknote as a gift to the trust since it belongs to the Royal Canadian Mint and is legal tender. Although silver coins are also manufactured and distributed by the Royal Canadian Mint, they are considered as non-circulation coins and can therefore be owned by a person.

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