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Publications

Our Team Publications

Registered Retirement Income Funds

A RRIF is very much like an RRSP in reverse. An RRSP is an account designed to help you save for retirement – a RRIF is an account designed to provide annual income in the form of withdrawals from a registered plan during your retirement. Click to read on about how you can benefit from an RRIF.

Networth Newsletter

A quarterly publication written by BMO Subject Matter Experts on a variety of timely and relevant wealth management topics.

Economic and Market Updates

Focus

Focus is a weekly financial digest.

Talking Points

Talking Points is a weekly market commentary written by Douglas Porter, Chief Economist and Managing Director at BMO Capital Markets.

Estate and Succession Planning

Planning for the Family Vacation Property

Many Canadians appreciate the benefits and joys of owning a cottage, cabin or chalet (“vacation property”), and wish to pass the ownership and enjoyment to the next generation. Designing a succession plan for the future ownership of your family vacation property can be challenging, especially because these properties often hold tremendous sentimental and monetary value. In addition, it is likely that more than one child may want ownership; however, the asset cannot be divided. As a result, it’s important that your estate plan take this asset into consideration to ensure that it is properly accounted for and, if applicable, transitioned based on the needs and desires of the family.

“Letter of Wishes” for Wills and Discretionary Trusts

Explains the role that a “Letter of Wishes” or “Precaratory Memorandum” can play in providing guidance to the executor of a Will or trustee of a discretionary trust.

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.

Digital Assets and Your Estate Plan

This article discusses common digital asset considerations and important information for making sure they are properly addressed in your estate plan.

“Stress Testing” Your Estate Plan in a Time of Crisis

April 30, 2020: A crisis can be a catalyst for action if you don’t have an estate plan – or even a Will. Here is a checklist to help ensure your estate plan is up to date, reflects your current wishes, and continues to align to your goals.

Importance of Financial Planning

Wealth Themes

Wealth Themes is a monthly compilation of timely articles and tools from our experts and other BMO Financial Group partners.

RESP - Registered Education Savings Plans

Taking money out of an RESP

As your child transitions from high school to post-secondary studies, your focus shifts from accumulating money in a Registered Education Savings Plan (“RESP”) to withdrawing funds from the plan to help cover post-secondary school expenses.

Retirement Planning

Retirement Planning: CPP, RRIF and OAS Considerations

When the time for retirement arrives, payments from the Canada Pension Plan or the Quebec Pension Plan (“CPP”/“QPP”), Registered Retirement Income Fund (“RRIF”), and Old Age Security (“OAS”) are the main sources of retirement income for many Canadians. It is important to consider these income streams and discuss the planning opportunities with your financial professional as you approach your retirement years. This article provides an overview of these programs and some factors affecting the decision-making process.

Tax Planning Strategies

Tax Document Schedule

We appreciate that tax season is an important time of year for investors. Depending on your investment holdings and account activity, you could receive a variety of tax slips that you’ll need to prepare your annual tax return. To help simplify your tax preparation efforts we are providing a brief overview of the various tax slips and supporting documents you may receive from BMO, along with their expected availability dates. It’s important to note that this schedule may be subject to change. Please make sure that you receive all required tax slips before filing your tax return with the Canada Revenue Agency (“CRA”) to prevent having to file an amended tax return. As a reminder, most Canadian individual tax returns are due on April 30, 2021.

2022 Personal Tax Calendar

While most Canadians are aware of the April 30 personal income tax filing deadline, there are other important tax deadlines that must be observed over the course of the year – especially if you want to take advantage of certain tax deductions and credits. This calendar summarizes several important dates on the tax calendar and offers some tips to help you with your overall wealth planning. Where a deadline falls on a weekend or a holiday recognized by the Canada Revenue Agency (“CRA”), the deadline is generally extended to the next business day.

Separation, Divorce and Your Financial Plan

Separation, Divorce and Your Financial Plan outlines the financial and tax implications of a breakdown in a relationship for issues relating to both married and unmarried (i.e., “common-law”) spouses.

Tax Planning for the Family Farm

The family farm continues to serve an important role in the Canadian economy and, as such, receives special status under Canada’s tax law. In particular, there are two important tax planning strategies that can be used when transferring a Canadian farm property. The Capital Gains Deduction is available to potentially shelter capital gains realized on transfers of qualified farm property, and the Intergenerational Farm Property Rollover (“Intergenerational Rollover”) permits tax-deferred transfers of farm property to other family members. Both strategies can apply to lifetime transfers (i.e., a sale or gift), or to transfers that take place upon the death of the owner. The rules surrounding these strategies are very complex and only a general discussion is provided here. As with all tax planning, professional advice is critical to understand the specific implications for your situation.

COVID-19 Update

In the Eye of the Coronavirus and Oil Storm

March 12, 2020: The BMO Nesbitt Burns Portfolio Advisory Team prepared a report that provides perspective on the Coronavirus, the oil market-share war, and their impact on the markets. As a reminder, it is always important to maintain a long-term perspective on your investment strategy. Please contact the office if you would like to discuss your investment portfolio.

Extra-ordinary Measures for Extra-ordinary Times

March 24, 2020: Lesley Marks, CFA, Chief Investment Strategist BMO Private Wealth, reviews the most recent measures taken by policy-makers to prevent a financial crisis from the global pandemic.

Education Planning

Helping Your Children

These days, given the current economic climate amidst the COVID-19 pandemic, many parents of adult children may feel their own finances are in relatively good order, yet they may have concerns about their adult children and their ability to support themselves during this unprecedented period of uncertainty. Helping your children is a parental instinct, and if you have the means you certainly want to help them out. However, remember to do so prudently so you don’t impact your own retirement, estate planning or tax situation. This article explores ways to effectively help your adult children while keeping your own wealth plan in order.