- The second volume of the online publication explores the
issues affecting the successful transfer of wealth
- Offers advice on how to engage the next generation in family
philanthropy and a lifetime of charitable giving
TORONTO, Oct. 26, 2020 /CNW/ - BMO Private Wealth today
published the second volume of the BMO Wealth Insights magazine,
which focuses on the issues that affect the successful transition
of wealth and building a lasting legacy for the succeeding
generation.
Anticipating a $1 trillion
transfer of wealth over the next decade, the largest 10-year wealth
transfer in Canadian history ("A Sudden Windfall", BMO Wealth
Insights, 2018), the BMO Wealth Insights magazine explores the
complex conversations and plans needed to prepare heirs to manage
their future inheritance and family legacy.
"Transitioning the ownership of wealth or the family enterprise
can be a delicate and nuanced process. Balancing the diverse
priorities, goals and perspectives within a family can be
challenging, and success relies on honest communication,
professional guidance and collaborative planning," said
Caroline Dabu, Head, Wealth Planning
and Advisory Services, BMO Financial Group. "BMO Wealth Insights
offers guidance on how to prepare and engage the next generation
for the responsibilities involved with family wealth and legacy,
and how BMO Private Wealth professionals can help families plan for
a seamless transition."
The second volume of the magazine explores relevant issues that
affect the successful transfer of wealth including:
- Engaging the next generation;
- Expectation versus reality for leaving and receiving an
inheritance;
- Preparing heirs for a lifetime of charitable giving;
- Ensuring a seamless transfer of wealth with an estate
plan;
- Succession and transition plans for business owners; and
- Family philanthropy.
To download a copy of BMO Wealth Insights, please visit
https://www.bmo.com/main/wealth-management/wealth-insights.
BMO Private Wealth is a brand name for a business group
consisting of Bank of Montreal and
certain of its affiliates in providing private wealth management
products and services. Not all products and services are offered by
all legal entities within BMO Private Wealth. Banking services are
offered through Bank of Montreal.
Investment management, wealth planning, tax planning, philanthropy
planning services are offered through BMO Nesbitt Burns Inc. and
BMO Private Investment Counsel Inc. Estate, trust, and custodial
services are offered through BMO Trust Company. BMO Private Wealth
legal entities do not offer tax advice. BMO Trust Company and BMO
Bank of Montreal are Members of
CDIC. ® Registered trademark of Bank of Montreal, used under license.
® Registered trademark of Bank of Montreal, used under licence.
About BMO Financial Group
Serving customers for
200 years and counting, BMO is a highly diversified financial
services provider - the 8th largest bank, by assets, in
North America. With total assets
of $974 billion as of July 31, 2020, and a team of diverse and highly
engaged employees, BMO provides a broad range of personal and
commercial banking, wealth management and investment banking
products and services to more than 12 million customers and
conducts business through three operating groups: Personal and
Commercial Banking, BMO Wealth Management and BMO Capital
Markets.
SOURCE BMO Financial Group