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We want to leave a legacy, give effectively and make a difference. We need guidance.
Max and Ruth of Vancouver are both in their late 60s. He is a retired lawyer whose passion is collecting rare books; she is a professional artist. They were recently named co-executors of Ruth’s father’s estate, and were left both a substantial inheritance and the responsibility for a family foundation that supports the arts. They need help executing the estate and help with the foundation, which does not have a strategy or focus. Simply writing cheques to local arts groups does not satisfy Max and Ruth; they want the foundation money to do more.
Max and Ruth contacted BMO Harris Private Banking and a Private Wealth Consultant coordinated a team of professionals to provide them with guidance and with seamless and innovative solutions. They appointed BMO Trust Company as Agent for Executor and the estate was settled swiftly and smoothly. A mission statement was developed for the foundation, based on their values and goals. Philanthropy Services assisted in developing granting guidelines, administering the foundation and assessing the results of the granting activities. A customized investment portfolio was created to support the foundation’s activities. Their foundation now practices strategic philanthropy — and it is making a difference.
The characters in this scenario are fictional. Any similarities between them and any real person is strictly coincidental.
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