Duhaime's Law Dictionary Self-Benefit Trust Definition: A trust created by a settlor and to the settler's exclusive benefit during his or her lifetime. According to Canadian tax law, as of 2009, a self-interest would be recognized by the Canada Tax Agency if pursuant to the trust's constitution,and once created, during the settlor's life, the settlor alone must be entitled to all of the income or capital of the trust nor can he or she be replaced as beneficial owner. Also known as an alter ego trust. REFERENCES: Canadian Estate Planning Guide (Toronto: CCH Canadian Limited, 2008), page 5038-5039-3 Duhaime, Lloyd, Elder Law, Wills, Trusts and Estates Income Tax Act, Revised Statutes of Canada 1985, Chapter 1, 5th Suppl., §73(1.02)(b)(ii) Always looking up definitions? Save time with our search provider (modern browsers only) If you find an error or omission in Duhaime's Law Dictionary, or if you have suggestion for a legal term, we'd love to hear from you!