Senior Investment Counsellor & Portfolio Manager
BMO Private Wealth
525 8th Ave SW
Trust and Estate Planning
The Importance of Trust and Estate Planning
Trust and estate planning are aspects of wealth management that are often neglected by many investors. I make sure my clients are well prepared and don’t leave these essential considerations to the last minute. With an aging population, this is becoming a very relevant factor.
For very affluent clients, trusts and estate planning are valuable wealth planning tools. Working in collaboration with trusted BMO specialists – including Will and estate planners – we offer integrated family office strategies and services.
Trusts for affluent families
People who have accumulated significant wealth often face complex family issues that need to be addressed with astute and careful planning. Often, wealth becomes the responsibility of someone who has had little or no involvement in managing the family assets. Wealthy families must deal with complexities such as relationship dynamics, multiple properties, family business succession and equalization concerns, and international assets. A trust cannot be legally contested and guarantees that your precise wishes will be honoured after your passing.
When a customized trust is needed for young children, we network with trusted legal advisors to help the parent(s) create the right trust and then manage the funds while they are held in trust to achieve conservative, long-term growth.
Estate planning excellence
Together with our BMO Wealth Planning team, we work to help our clients to define and meet their goals and transfer their wealth tax-effectively to the next generation. My commitment to attentive personal service adds tremendous value as we address every nuance of your wealth transfer.
My estate planning process helps you to:
- Mitigate estate taxes. For example, you could purchase tax-exempt life insurance, which remains outside your Will so it bypasses probate. This helps your loved ones avoid a lengthy process that can last for months or even years.
- Minimize capital gains taxes on, and mediate in disputes over, your cottage or other vacation properties.
- Advise you regarding US estate tax laws if you own property south of the border.
- Provide alternatives to leaving your heirs lump-sum inheritances, which are often managed unwisely by inexperienced young people.
- Educate your millennial heirs to become smart wealth stewards with financial discipline, so they understand how much they can spend today while preserving wealth for future generations.
- Introduce you to and collaborate with BMO trust and estate specialists to bring sophisticated estate planning, trust administration services and executor services to you and your heirs.
- Help you plan business succession strategies:
- Maximize your lifetime capital gains exemption;
- Create an estate freeze to pass future growth to your heirs tax-consciously; and
- Ensure your company has access to cash while your beneficiaries find a buyer or new management