Preparing Your Last Will and Testament

The attached article – Preparing Your Last Will and Testament – explains various aspects of Will preparation including, the importance of appointing an appropriate executor, life events that warrant a Will review and the use of testamentary trusts.
Preparing Your Last Will and Testament

Dynasty Trusts for Your U.S. Beneficiaries

Dynasty trusts are generally established by wealthy Americans to protect and preserve their wealth for the benefit of future generations. While you may be a Canadian resident and not a U.S. person, if you will be leaving a significant inheritance to a child or other beneficiary who lives in the U.S. (or is considered a U.S. person for U.S. tax purposes), you may want to consider establishing a U.S. dynasty trust.
Dynasty Trusts for Your U.S. Beneficiaries

Tax and Estate Consequences of Investing in U.S. Securities

As a Canadian resident you pay Canadian income taxes on your worldwide investment income. Since Canada represents only a small percentage of the world’s markets, it makes sense that your portfolio includes some foreign securities. If you own U.S. securities such as stocks issued by a U.S. corporation or real property located in the U.S., you may also have to pay U.S. income and estate tax. It is important to note that even though some U.S. securities also trade on a Canadian stock exchange, those securities are still considered U.S. property and the withholding and estate tax rules will apply. However, there are ways to take advantage of reduced U.S. withholding taxes on certain securities, and general planning techniques to minim
Tax and Estate Consequences of Investing in U.S. Securities

U.S. Estate Tax for Canadians Income Tax Considerations

As a Canadian you may be unaware that your estate could be impacted by U.S. estate tax if you own U.S. securities or U.S. real estate. This article highlights the potential U.S. estate tax implications that could apply to Canadian estates and suggests a number of planning opportunities to help Canadians minimize these taxes. The strategies discussed in this article apply to individuals who are tax residents of Canada and are not U.S. citizens or taxed as a U.S. person. All amounts quoted are in U.S. dollars.
U.S. Estate Tax for Canadians Income Tax Considerations

The Consequences of Dying Without a Will

The Consequences of Dying Without a Will
The Consequences of Dying Without a Will

Estate Planning for Blended Families

Estate Planning for Blended Families
Estate Planning for Blended Families

Probate Fees and Taxes

While there are no death or estate taxes in Canada, provincial probate fees (also referred to as probate taxes) may be imposed on the value of parts of a deceased’s estate assets. This article explains the process, advantages, and costs of probate, and provides strategies to minimize probate taxes with probate-planning strategies.
Probate Fees and Taxes

Transferring Your Business to the Next Generation

Entrepreneurs who have built successful companies often want to see their business passed effectively to the next generation. However, a sale or transfer of ownership of the business will generally trigger capital gains tax. If the value of the shares of your business has increased, you or your estate may be burdened with a substantial tax bill. The business may even have to be sold to cover the liability.
Transferring Your Business to the Next Generation

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.
Planning for the Family Vacation Property

Trust Services

Services we offer include:

 

Estate Planning & Administration

  • Comprehensive planning to transition wealth to loved ones, friends or charities
  • Fiduciary expertise to administer trusts professionally and objectively
  • Asset protection and tax strategies to help maximize a family’s wealth over time
  • Guidance on managing assets and family members in more than one jurisdiction
  • Strategies to reduce the effect of probate

 

Specialized Estate & Trust Services

  • Attorney for Property, Executor, Trustee, or Court Appointed Representative services
  • Agent services to provide support to individuals acting in a fiduciary capacity
  • Estate planning that addresses all of your priorities
  • Living, Family and Testamentary Trust services for your family and family business
  • Tax efficient strategies that make a measurable impact and involve your entire family through donations, private foundations and the BMO Charitable Giving Program
  • Assistance with cross-border complexities to help you to manage US and international properties. Rely on our deep experience, relationships with trusted legal and accounting specialists, and networks of connections at BMO Financial Group.
  • enCircle concierge services to fully manage you or your family’s personal and financial responsibilities (e.g., bill payments, investment management, consolidated statements)

 

Estate Litigation

  • Estate litigation is becoming more prevalent as families become wealthier and more complex and our population ages. Wills and family members’ actions are being challenged in court, causing turmoil.
  • As a corporate fiduciary, BMO Trust Company can become a valuable resource as your court-appointed trustee to objectively administer estates during litigation disputes.

Wills that Work

Estate planning is an essential component of a successful wealth management program. A good estate plan will provide you with the peace of mind that comes from knowing your family will be taken care of, and your financial affairs will be in order and administered according to your wishes. An important key element of any estate plan is a Will.
Wills that Work

Estate Planning for Physicians

You’ve been devoted to establishing your medical practice, providing for your family and saving for a comfortable retirement. As busy professionals, doctors may overlook the potential impact on their family and practice if they were to become critically ill, incapacitated or pass away unexpectedly. That’s why it’s important for physicians to prioritize estate planning within their wealth management planning.
Estate Planning for Physicians

The Consequences of Dying Without a Will

The Consequences of Dying Without a Will
The Consequences of Dying Without a Will

Top ten Reasons for choosing a corporate Executor

Top ten Reasons for choosing a corporate Executor
Top ten Reasons for choosing a corporate Executor

Managing Your Wealth

Estate & Succession Planning

Economic and Market Updates