Estate and Tax Planning

Have you ever considered what would happen if you were no longer able to take care of your family?

Regardless of your present age, the size of your estate, or the complexity of your situation, there are several questions you should be able to answer with certainty:

• Are your affairs organized to reduce the impact of income taxes and other estate costs?
• Are you sure that your estate will be distributed as you intend? Is your will up-to-date and aligned with events outside your estate, such as beneficiary designations or joint ownership situations?
• If you were to become incapacitated, have you legally appointed someone to make financial and personal care decisions on your behalf?

 

An estate plan is a key component of your overall wealth management strategy. Your family will appreciate the care you took to provide for them, and to spare them the burden of putting your affairs in order during a most difficult time. With planning, you can maximize the value of your estate, minimize taxes and have control over how your estate is distributed, and help avoid conflict among your beneficiaries.

 

At RT Wealth Management, we can help identify estate planning opportunities and issues, engage experts to advise you on strategies that suit your circumstances, and oversee the successful implementation of your personal estate plan. They can also help you to appoint a corporate executor through BMO Trust Company.

 

Trusts: Asset Protection and Tax Savings Though BMO Trust, we can offer you the unique protection and tax-savings potential of trusts. A trust is a legal structure that can be set up immediately or upon your death. Its function is to defer taxes while protecting your beneficiaries from themselves or others by placing explicit limits on how, when, and by whom your assets may be accessed. Trusts are one of many tools we may recommend to give you greater and secure peace of mind.