Estate planning at BMO
How to protect 16 BMO accounts — manage beneficiaries online, fund a trust in-branch, and file claims through BMO's BMO Wealth Management - Trusts & Estates
Brand change
BMO Harris Bank N.A. rebranded to BMO Bank N.A., with the U.S. legal-entity name change effective September 3, 2023 (the simplified "BMO" branding was announced in September 2022), retiring the 140-year-old "Harris" name. Same legal entity, same account numbers, debit cards, online logins, and customer service numbers -- a brand update, not a merger. The rebrand followed BMO's February 1, 2023 acquisition of Bank of the West. Effective September 2023.
The procedures below reflect BMO's accounts. Account servicing may transfer as the change takes effect.
Customer Service
BMO Bank N.A., P.O. Box 94033, Palatine, IL 60094-4033
BMO Wealth Management - Trusts & Estates
Death Claims
BMO Bank N.A., P.O. Box 94033, Palatine, IL 60094-4033
BMO offers 16 consumer accounts that interact with estate planning in distinct ways. Of those, 12 can name a trust as beneficiary or be retitled into a trust. Understanding the transfer methods available for each account type helps families keep assets out of probate and ensure they pass to the right people.
BMO lets account holders update beneficiary designations online, in branch, by mail, and by phone, typically taking 15-30 minutes. Trust funding is also available, allowing families to retitle accounts into the name of a revocable living trust.
There are two sides to estate planning at BMO: setting things up while you're alive, and the process survivors follow after a death.
Preparing your estate
Beneficiaries and trust funding
How to manage beneficiaries online, fund a trust in-branch, and review 16 account types at BMO.
View details →When someone dies
Death claim process
Contact BMO's BMO Wealth Management - Trusts & Estates to file a claim. 6-step process, 9 required documents, and contact information for survivors.
View details →For questions about any of these procedures, contact BMO's BMO Wealth Management - Trusts & Estates at 1-800-472-0060. Email inquiries can be sent to bmowealthdirect@bmo.com.
Frequently asked questions
BMO branch deposit accounts -- Smart Advantage Checking, Smart Money Checking, Relationship Checking, Savings Builder, Growth Money Market, and CDs -- can be retitled to or opened in the name of a revocable living trust. Visit a branch or call BMO Wealth Management at 1-800-472-0060. You will need your trust document or Certificate of Trust, government-issued ID for all trustees, and the trust TIN/EIN (or grantor SSN for a revocable trust). BMO Alto online accounts cannot be opened in the name of a trust or in a fiduciary capacity -- if you want a trust-titled high-yield account, use a branch product instead.
BMO offers Traditional, Roth, Rollover, SEP, and SIMPLE IRAs through BMO Investment Services via LPL Financial. An IRA cannot be retitled into a trust during your lifetime -- IRAs must remain in an individual's name under IRS rules. However, a trust can be named as the primary or contingent beneficiary on any BMO IRA. If you name a trust as IRA beneficiary, work with a tax advisor on the SECURE Act rules for "see-through" trust qualification and the 10-year payout for non-spouse beneficiaries. Contact BMO Investment Services at 1-877-225-3863, Monday-Friday 7:30 AM - 7:00 PM CT, to update IRA beneficiary designations.
Sources
Data sourced from BMO primary sources (24 pages reviewed). How we research.
Customer Service
BMO Bank N.A., P.O. Box 94033, Palatine, IL 60094-4033
BMO Wealth Management - Trusts & Estates
Death Claims
BMO Bank N.A., P.O. Box 94033, Palatine, IL 60094-4033
Estate planning articles
Learn how to protect your BMO accounts and other assets with trusts, beneficiary designations, and estate planning documents.
