 Schwartz was honoured with the Order of Canada in 1998 and was upgraded in rank to Officer of the Order of Canada in 2004.In 2003, he was inducted into the Nova Scotia Business Hall of Fame.Until his death on Yom Kippur, Saturday, September 18, 2010, he was active in both business and philanthropic endeavours, living in Sydney, with his wife of 52 years, Diana Schwartz (née Usher).