Bill Coxford

Portfolio Manager

Address

BMO Nesbitt Burns
1959, 152 Street
Suite 270
White Rock, BC
V4A 9E3
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Contact Us

Estate Planning


The biggest value we can bring to you aside from responsible money management is bringing partners in estate and succession planning. It’s a big eye opener for people to realize what they are not asking themselves or thinking about.
 
Wealthy families – especially ones who own businesses – often face complicated estate planning challenges. We can assist you to transfer your wealth to your heirs fairly and equitably without stressing your kids or causing family conflict, minimize estate tax and the effect of probate, and more.
 
We will help you get things organized – your estate, tax strategies to minimize your tax bill, insurance as a tax tool, and more. We spend a lot of time, effort and resources making sure you and your family are taken care of.
 
  • You may wish to leave your company in the hands of one willing and highly capable son or daughter, but also want to make sure your other offspring inherit an equitable share of your wealth. We will use estate equalization strategies to help you leave an equal amount to all your kids.
  • If you trust your sensible child to manage their inheritance prudently but fear that your prodigal child will blow through theirs too quickly, we can use testamentary trusts. The prodigal child’s trust will place spending limits on the inheritance while the trust for financially responsible children will be merely window dressing that saves the other from embarrassment or insult. 
  • You may fear some estranged family members may challenge your Will. Through in-depth family discussions about interpersonal dynamics, we can consider an alter ego trust to protect your family’s assets from a costly and stressful estate dispute.
  • To help you transfer money to your heirs most tax effectively, we might consider using a technique for business owners called an estate freeze.
  • If you wish to leave money securely to your grandchildren in the event of unpredictable family relationships, we can use a family trust.
  • To advise you on your Wills, Powers of Attorney and estate planning, we work closely with Nicco Bautista, Director Estate Planning at BMO Private Wealth. Nicco is a lawyer and a valuable resource who has extensive experience advising affluent families and business owners on legal matters with objectivity.
  • As a business owner, you likely have a complex estate. Consider entrusting a professional from BMO Trust Company as your Executor instead of a family member or friend. These compassionate and experienced professionals are best able to manage the complexities of an estate that includes your personal and enterprise assets and saves your loved ones from being burdened with the responsibilities and liabilities of administering your estate.
Multi-Generational Advice 
  • We will counsel your sons and daughters on wise wealth stewardship. Here is the process we recommend:
  • First, we will have a meeting with you on the side to discuss the family dynamics and circumstances (lavish spending, poor planning, lack of organization, etc.) and what we would like your kids to hear.
  • Then, we will hold a family meeting to tell the kids the reality and the plan. As the third party, we can play the difficult role of presenting the objective reality check.