Tel: 705-675-8982
Toll Free: 1800-450-7655
Fax: 705-675-8936

Address

BMO Nesbitt Burns
27 Cedar Street
Suite 301
Sudbury, ON
P3E 1A1
Map

Contact Us

Publications

Responsible Investing

BMO Digital Transformation: How to future-proof your business

We can all agree that 2020 was an unprecedented year, and the global COVID-19 pandemic changed the way we live and work. Extended lockdowns made it challenging to do business, as everyone was confined to their homes. But as they say, when the going gets tough, the tough get going.

Retirement Planning

Checklist - More than 10 years to retirement

Prepare now to retire well later.

Checklist - Between 2 and 10 years to retirement

A clear path to retirement requires a clear plan. If retirement is now on the horizon and no longer a distant goal, you’ll want to make sure preparing for it is a priority. Using this time to continue to save and build your assets, while paying off outstanding debt can really make a difference. This is also the perfect time to put some serious thought into what your retirement will look like. This checklist will help you do just that.

Checklist - Less than 2 years to retirement

Transition into retirement with confidence. As you transition into retirement, keep in mind your income could come from multiple sources at different times of the month. You’ll need to know where that income will come from, how much you’ll receive, and when you’ll receive it. Before you retire, you’ll need to complete a variety of employer and government forms. This checklist will help you move into your retirement seamlessly.

Checklist - Living in retirement

Make the most of your retirement. Each person has a unique vision for how they will spend their retirement. Whatever your plans, make sure you make the most of your retirement by staying physically and mentally active, and ensuring your money lasts as long as you need it too.

Severance Package Checklist

While receiving a severance package can help soften the blow of losing employment, you may be unsure of what your options are or what questions to ask to make the most of the severance. The following is a list of key questions that you may want to consider when making decisions around this life event.

LIF Minimum & Maximum Withdrawal Schedule

Each year the amount that you can withdraw from your Life Income Fund (LIF) will vary depending on your age, the value of your plan at the beginning of the calendar year, and the provincial or federal pension legislation governing your plan.

Caregiving in Canada

When someone becomes a caregiver, they can often be confused and overwhelmed by trying to find services to assist them in caring for their loved one. Many people do not know what services are available or where to begin to find these services. The good news is there are several options to assist you.

Philanthropy

Donating Appreciated Securities

The benefits of making a charitable donation are countless – from helping those in need to the personal satisfaction of giving back to the causes that are important to us. Charitable giving also makes good sense from a tax perspective. With proper planning, you can reduce your total income tax liability and maximize the value of your donation.

BMO Charitable Giving Program

Philanthropy is an important financial planning consideration for many Canadians, and an integral part of their wealth management plan. A Charitable Gift Fund (“donor advised fund”), established through the BMO Charitable Giving Program, allows you to create a flexible and customized philanthropic solution that will have a lasting impact on causes that matter to you and your family.

Insurance Planning

Cross-Border Implications of Purchasing Life Insurance Policies

The funding of a Canadian life insurance policy is a common strategy for Canadian residents with excess liquidity who are looking for a tax-effective investment vehicle. However, when there is a U.S. person in the family, there are specific U.S. income and estate tax issues that should be considered.

Will and Estate Planning

Ensuring a seamless transfer of wealth with an estate plan

Estate planning is the process required to transfer and preserve your wealth in an effective and seamless manner.

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.

Business Advisory & Succession Planning

As a business owner, what’s your succession and transition plan?

Retiring from your own business can be difficult after having invested the better part of your working years to achieve success. And, business owners who want to pass on that successful business may be faced with a bigger dilemma of if and how to transfer the wealth they have accumulated through their business. A number of critical factors need to be considered including how they will exit from their business, the valuation of the business, family considerations and expectations and their own retirement plans.

Transferring Your Business to the Next Generation

Entrepreneurs who have built successful companies often want to see their business passed on effectively to the next generation. However, a sale or transfer of ownership of the business will generally trigger capital gains tax. If the value of the shares of your business has increased, you or your estate may be burdened with a substantial tax bill. The business may even have to be sold to cover the liability

Five Best Practices for Business Owners During Uncertain Times

The BMO Business Advisory and Transition Planning team has outlined five best practices to help business owners focus and manage their business effectively.

5 Common Challenges for a Family Enterprise

Statistics show that family enterprise is the most common form of business ownership in the world. In Europe and Asia, some businesses have been family owned for 10+ generations, or several hundred years. In Canada, it is estimated that some 60% of the GDP is driven by family enterprises that employ more than 6 million people. Ironically research on family business has only gained significant traction over the past 50 years.

A Time To Sell: Preparing Your Business For A Potential Sale

As a business owner, the decision of when to sell your business must be carefully planned, and included as part of a long-term succession planning strategy. Planning for the sale well in advance allows you to prepare your business to ensure you’re in a position of strength to negotiate and maximize the proceeds of the sale.

COVID-19 Update

Client Report: The New Variant and Market Volatility

Prepared by the BMO Nesbitt Burns Portfolio Advisory Team to provide perspective on the market volatility over the last week lead by two major developments: (1) the emergence of a new COVID virus variant – Omicron; and (2) U.S. Federal Reserve (“Fed”) Chairman Powell admitting that higher than target inflation should no longer be described as transitory, and it may have to further slow the pace of bond purchases.

Succession Planning for the Family Farm

This article addresses common questions asked by our agricultural clients regarding succession planning of the family farm.

Other

BMO Nesbitt Burns Gateway®

This article provides an overview of the information and tools available through Gateway. A key feature of Gateway is the ability to access your BMO Nesbitt Burns account statements and trade confirmations electronically by signing up for eDocuments.

Tax Planning Strategies

Canadian Snowbirds and U.S. Income Tax

Although Canadian snowbirds reside in the U.S. for only a part of the year, there is the potential of being considered a U.S. resident and, in turn, having to pay U.S. income tax on the same basis as a permanent U.S. resident. This article outlines how the U.S. government determines whether you are a resident for income tax purposes; namely, it covers the criteria for meeting the Substantial Presence Test, Closer Connection Exception and the Canada U.S. Income Tax Treaty Tie-Breaker Rules.

Tax Slips Overview

In an effort to help simplify your tax preparation efforts, we are providing you with a brief overview of the various tax slips and supporting documents you may receive from BMO, and their expected mailing dates.

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.

Pension Income-splitting Provides Tax Planning Opportunities for Couples

The pension income-splitting rules provide an effective, yet simple, strategy to lower family taxes. Being able to split pension income provides an opportunity for couples to reduce their overall family tax bill by taking advantage of a spouse’s or common law partner’s lower marginal tax rate where retirement incomes are disproportionate.

The CRA’s Foreign Reporting Requirements

Since Canada represents only a small portion of the world’s capitalization, it may make sense to include some foreign investments in your portfolio. However, it is important to understand Canadian and other foreign tax implications of owning investments outside of Canada.

Managing Your Wealth

Are All Fees Created Equally?

With upfront knowledge of the cost of investing, you’re able to focus on developing a long-term plan that respects your tolerance for risk and will help you reach your wealth management objectives.

Wealth Planning Facts & Figures

This is a helpful resource summarizing important tax, retirement and estate planning information.

Building a Lasting Wealth Legacy

Building a Lasting Wealth Legacy focuses on fundamental principles to consider, in order to prepare the next generation to manage the family wealth successfully, and it also includes a roadmap that outlines considerations to help build a lasting wealth legacy.

Informal or “In-trust” Accounts - Friend or Foe

Grandparents and other loving relatives often wish to make a gift of money to a minor child, whether it’s to start an education fund, purchase that first car or just allow the workings of time and money to benefit the child in the long term. To keep things “simple,” these gifts are frequently set up as informal trusts in “in-trust” or “in trust for” accounts (“ITF”). While these accounts are less complex and expensive than traditional trusts, there are certain things that should be considered when these types of accounts are set up.

How Critical Illness and Disability Insurance Fit Together in a Wealth Plan

How Critical Illness and Disability Insurance Fit Together in a Wealth Plan explains the differences between these two types of insurance, and how they can work and complement each other in a wealth plan.

Wealth Planning for Uncertain Times

April 30, 2020: In times of uncertainty and market volatility, creating or updating your wealth plan will help to keep you focused on the long-term and can provide reassurance that your goals remain achievable.

BMO Wealth Institute Report

Make better investment choices by understanding and reducing bias. BMO Wealth Management provides insights and strategies around wealth planning and financial decisions to better prepare you for a confident financial future.

Insurance Considerations

Insurance Considerations for Business Owners and Incorporated Professionals

Estate & Succession Planning

Estate planning for complex family dynamics

Today, the modern family comes in many different shapes and sizes; this diversity is having an impact on family relationships and the way families interact when addressing estate planning.

Estate Planning For Your Worldwide Assets

More and more Canadians own assets in multiple provinces and countries. Whether you have a family property, vacation villa or securities in a local business overseas, specialized estate planning is necessary to ensure ease of administration of these assets on your death.

Why Pets Belong in Your Estate Planning

Pet owners generally view their pet as a faithful companion and a member of the family. But have you considered what will happen if your pet outlives you? Without proper planning, your pet may face an uncertain fate.

Preparing Your Last Will and Testament

The attached article – Preparing Your Last Will and Testament – explains various aspects of Will preparation including, the importance of appointing an appropriate executor, life events that warrant a Will review and the use of testamentary trusts.

What Happens When a Canadian Resident Dies?

What Happens When a Canadian Resident Dies? discusses what happens to the assets of a deceased Canadian resident from a tax and estate perspective.

Looking Forward to Life’s Milestones

Life is a journey, with each of us choosing our own unique path. Your personal journey will be shaped by the decisions you make during significant milestones, and how you navigate through the detours you may be faced to take along the way. As a result, it’s important to understand some of life’s milestones to ensure you’re better prepared to navigate your way through these important crossroads

“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.

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.

Economic and Market Updates

Portfolio Strategy

Strategic commentary and an overview of financial markets.

Focus

Focus is a weekly financial digest.

Investment Strategy: 2022 Market Outlook

BMO’s outlook on the equity markets featuring Brian Belski, Chief Investment Strategist, to help you prepare for the coming year.

Education and Knowledge

Contribution Reminder for Your RRSP / TFSA / RESP

Maximizing the value of your registered plans by making annual contributions to your Registered Retirement Savings Plan (“RRSP”), Tax-Free Savings Account (“TFSA”), and Registered Education Savings Plan (“RESP”) is an important wealth planning strategy. By making your annual contribution(s) early in the year, you’ll benefit from the tax-sheltered growth all year long.

Networth Newsletter

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

Teaching your children about money

When a child starts to receive or earn their own money through an allowance, family gifts or a part-time job, their natural instinct is to spend it all. However, it’s never too early to start teaching children the importance of savings, and to respect the fact that money can also serve other goals, like sharing it to help others.