This article discusses common digital asset considerations and important information for making sure they are properly addressed in your estate plan.
Digital Assets and Your Estate Plan
Preparing your estate plan to accommodate the needs of a beneficiary with a disability, requires a thoughtful approach to ensure they will be properly accommodated and supported upon your death. Above all, it is important to consider the individual situation of the beneficiary(ies).
Estate Planning for Beneficiaries with Disabilities
This article provides estate planning considerations for unique and unusual assets, to assist an executor in the administration and transfer of these assets.
Estate Planning for Unique Assets
More and more Canadians own assets in multiple provinces and countries. Whether you have a family property, vacation villa or securities in a local business overseas, specialized estate planning is necessary to ensure ease of administration of these assets on your death.
Estate Planning For Your Worldwide Assets
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 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
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
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
Trusts for Asset Protection and Tax Savings
Trusts for Asset Protection and Tax Savings
Non Financial Ideas for Leaving a Legacy
Non Financial Ideas for Leaving a Legacy
Trusts for Protecting Assets and Tax Savings
Trusts for Protecting Assets and Tax Savings
Trustee services
Trustee services
Who Will Make Your Financial Decisions
Who Will Make Your Financial Decisions
Estate Planning
Estate Planning
"Letter of Wishes" for Wills and Discretionary Trusts
"Letter of Wishes" for Wills and Discretionary Trusts
Appointing a Corporate Executor
Appointing a Corporate Executor
Estate Preservation and Distribution
Estate Preservation and Distribution
Transferring Wealth to Future Generations
Transferring Wealth to Future Generations
Perils of Appointing a Non-Resident Estate Trustee
Perils of Appointing a Non-Resident Estate Trustee
Joint Ownership Pros and Cons
Joint Ownership Pros and Cons
Estate Complexity – Agent for Executor Tool
Estate Complexity – Agent for Executor Tool
Incapacity Planning in a Mobile World
Incapacity Planning in a Mobile World
Planning for Gifts to Adult Children
Planning for Gifts to Adult Children
Estate Planning for Blended Families
Estate Planning for Blended Families
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
One way for high net-worth and ultra-high-net-worth families to carve out an equal helping of the estate planning pie – and to reduce tension among family members – is with trusts. Wealthier families have long used these structures to maintain more control over their legacy and ensure money is distributed to family members according to the wealth creator’s wishes.
Why Trusts Are an Essential Tool For Wealthy Families
Over the next two decades, upwards of US$84 trillion globally is expected to pass from one generation to the next – both from the silent generation to boomers and from boomers to millennials.1 But before your hard-earned assets can be used by future generations, you’ll want to make sure they are passed down in the right way. You don’t want your family to squabble over your legacy or squander your estate away in a manner worthy of an episode of Succession.
The Great Wealth Transfer is Coming
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
The benefits of making a charitable donation are countless – from helping those in need to the personal satisfaction of giving back to the causes that are important to us. Charitable giving also makes good sense from a tax perspective. With proper planning, you can reduce your total income tax liability and maximize the value of your donation.
Donating Appreciated Securities
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.
Estate planning is the process required to transfer and preserve your wealth in an effective and seamless manner.
Ensuring a seamless transfer of wealth with an estate plan
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
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
Who Will Make Your Financial Decisions
Who Will Make Your Financial Decisions
The Mighty Power of Attorney
The Mighty Power of Attorney
Good Reasons to Trust Testamentary Trusts
Good Reasons to Trust Testamentary Trusts
The Mighty Power of Attorney for property
The Mighty Power of Attorney for property
Top ten Reasons for choosing a corporate Executor
Top ten Reasons for choosing a corporate Executor
Estate Preservation and Distribution
Estate Preservation and Distribution
In Time of Loss
In Time of Loss
Planning for Gifts to Adult Children
Planning for Gifts to Adult Children

Managing Your Wealth

Economic and Market Updates