[1] He died intestate in 1955, but before his death he and his wife discussed in extensive detail the scholarship plan on which the Killam Trusts were founded.
It was used to found the Canada Council, along with similar funds from the estate of Sir James Dunn, also from Nova Scotia.
Upon her death at Villa Leopolda, her lawyer put into motion the plans the Killams had discussed during their lifetimes.
Having no children of their own, the Killams decided to leave their fortune to further post-secondary education in Canada at the graduate level.
The Canada Council for the Arts also received Killam funds and administered the national program consisting of the Killam Research Fellowships open to professors from all Canadian universities; and the Killam Prize, valued at $100,000 and recognizing lifetime contributions in each of the following categories: health sciences, natural sciences, engineering, social sciences and humanities.