Our Estate and Trust Services

Being an executor to a will is a significant responsibility that requires time and expertise to fulfill. In addition to the considerable paperwork, an executor may require understanding of:

  • tax, inheritance and family property laws;
  • court procedures.

BMO Trust Company can help with its Executor Assistance service. Our talented team of professionals have expert knowledge in managing estates. A dedicated professional will complete the estate administration on your behalf, keeping you informed every step of the way.

To learn more about some of the responsibilities, view our executor's task list.

When preparing your will, deciding who will be in charge of administering your estate after you are gone requires careful consideration.

You have options, including appointing BMO Trust Company as executor or co-executor of your will. As corporate executor, BMO Trust Company is completely objective and will be available to act at the time of your death and into the future.

A corporate executor can help if:

  • you have a complex estate (numerous investments and assets, business interests, international holdings, many beneficiaries);
  • your will establishes a long-term trust, the administration of which could be a burden on an individual;
  • there is potential for discord among family members or beneficiaries;
  • you have no suitably qualified family member or friend living near you;
  • you are in a second marriage and require a neutral third party to balance the needs of spouses and children from both marriages;
  • you have beneficiaries about whom you have special concerns.

A trust is a special way of holding property that can provide protection for your wealth and can also be used to reduce taxes. Selecting a trustee to administer the trust is an important decision, as it can be a very demanding role. BMO Trust Company provides professional services and administration of personal trusts.

Trusts can be used for many purposes:

  • Minimize taxes or probate fees
  • Manage assets in the event of incapacity or death
  • Manage assets for young children or beneficiaries who lack financial expertise
  • Provide for family members, including those with special needs
  • Provide for a favourite charity
  • Protect assets from dependants' relief or family law claims, and other creditors
  • Ensure your loved ones will be provided for by a trust

A comprehensive estate plan will include a will and powers of attorney:

Wills

Preparing a will and reviewing it regularly is the only way to be sure that your family is taken care of and that your wealth will be transferred smoothly to the next generation. An up-to-date will protects your family and assets, eliminating the stress your loved ones could face if they have to handle your finances without one.

The following events should trigger a review of your will:

  • Marriage, separation, or divorce
  • Birth or adoption of children
  • Acquisition of significant new assets
  • Change in circumstances for an executor or beneficiary (death, mental incompetence, a move out of province or country)
  • Wish to make provisions for additional people or beneficiaries

Powers of Attorney

When planning for incapacity, there are two important documents to consider.

Enduring Power of Attorney – enables you to name a trusted substitute decision maker who is authorized to manage your financial affairs on your behalf. A spouse, adult child, family member, friend or a corporate trustee can act in this capacity. As corporate trustee, BMO Trust Company has the professional expertise to ensure that your affairs are managed in your best interest. A Power of Attorney for Health Care - enables you to appoint someone to speak on your behalf regarding your health and welfare should you be unable to do so yourself.

Contact information

If you want a BMO professional to contact you, please fill out the form below and you will be contacted within one business day.
Or, call 1-855-648-0643.

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We look forward to helping you meet your wealth management needs. One of our wealth management experts will contact you within one business day.