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Resources

Tax Planning

Philanthropy

Philanthropic Services for Private Foundations

A dedicated BMO Wealth Management professional works with you to provide the customized services your foundation requires.

Exploring charitable giving: Understanding donor advised funds and private foundations

Charitable giving is an important goal for many of us. Some donors seek to improve their community, while others, who are financially secure, simply want to give back.

Business Advisory & Succession Planning

Do you have a succession plan for your business?

A succession plan would detail the business owner’s desires with respect to the management of the business and the disposition of their shares. This is very important because business owners devote a significant amount of time, energy and, in most cases, their own money to building their business. If you’re contemplating a sale to a third party or a transition to family or employees, setting goals, having a vision and developing a formalized business succession plan are critical for success.

Tax Planning Strategies

Canadian Snowbirds and U.S. Income Tax

Although Canadian snowbirds reside in the U.S. for only a part of the year, there is the potential of being considered a U.S. resident and, in turn, having to pay U.S. income tax on the same basis as a permanent U.S. resident. This article outlines how the U.S. government determines whether you are a resident for income tax purposes; namely, it covers the criteria for meeting the Substantial Presence Test, Closer Connection Exception and the Canada U.S. Income Tax Treaty Tie-Breaker Rules.

Managing Your Wealth

Wealth Themes

Wealth Themes is a monthly compilation of timely articles and tools from our experts and other BMO Financial Group partners.

Estate & Succession Planning

What Happens When a Canadian Resident Dies?

What Happens When a Canadian Resident Dies? discusses what happens to the assets of a deceased Canadian resident from a tax and estate perspective.

Estate Planning for Unique Assets

This article provides estate planning considerations for unique and unusual assets, to assist an executor in the administration and transfer of these assets.

Estate Information Organizer

This is designed to help your family, executor (referred to as a “liquidator” in Quebec), or Power of Attorney for Property (referred to as a “mandatory” in Quebec) locate all of your important documents and other information needed to administer your estate or act as your Power of Attorney for Property

Estate planning for complex family dynamics

Today, the modern family comes in many different shapes and sizes; this diversity is having an impact on family relationships and the way families interact when addressing estate planning.

Planning for the Family Vacation Property

If you own a vacation property, this provides information on the tax consequences of selling a second home and highlights important estate planning considerations, if your plan is to keep your vacation property in the family for the next generation.

Economic and Market Updates

Focus

Focus is a weekly financial digest.

Current News / Affairs

2021 Federal Budget Review

On April 19, Finance Minister Chrystia Freeland presented her first Federal Budget from the minority Liberal government in the House of Commons. Since the government did not introduce a budget in 2020 because of the uncertainty of the COVID-19 pandemic, this was the first Federal Budget in more than two years.