Malcolm Burrows

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Malcolm is a philanthropic advisor with over 30 years of experience. He is head, philanthropic advisory services at Scotia Wealth Management and founder of Aqueduct Foundation. Views are his own. malcolm.burrows@scotiawealth.com

Protecting Charitable Interests

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[caption id="attachment_5768" align="aligncenter" width="377"] Charities may struggle with a lack of resources and expertise when defending an interest in an estate.[/caption] Are charities in a will easier to challenge when there are more than five entities named?   This topic came up at a recent lunch with estate planning and litigation colleagues.  One told a cautionary tale of a large estate that was litigated away from a dozen named charities.  The….

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Estate Administration, Estate Donations, Estate Litigation, Philanthropy/Charitable Giving, Uncategorized

The Endowment Effect

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[caption id="attachment_5640" align="aligncenter" width="463"] St Miguel and the Dragon, 14th Century, Museu Nacional d’Art de Catalunya, Barcelona, Spain[/caption] People value objects more when they own or possess them – or at least when they presume ownership.   In cognitive psychology this phenomenon is called the “endowment effect”.    It’s a concept that was seemingly invented to describe a lot of behaviour related to estates, philanthropy and foundations.   It’s time to give it….

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Estate Administration, Estate Litigation, Family Conflict, Philanthropy/Charitable Giving

The Art Collector and the Tax Deal

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[caption id="attachment_12949" align="aligncenter" width="300"] [/caption] A 1953 caricature of Douglas M. Duncan by Alan Reeve. Note the envelopes in his pocket at the lower right.   Douglas Duncan was a pioneering Canadian art dealer and ambitiously hapless businessman.   Known as the dealer and artistic executor of artist David B. Milne, he was legendary for his unopened mail, uncashed cheques and, yes, of course, failure to write a will.  Prior to….

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Estate Administration, Estate Donations, Philanthropy/Charitable Giving

How to Donate Art

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[caption id="attachment_11663" align="aligncenter" width="640"] The Leaf by Germaine Richier. Gift of Nora E. Vaughan, 1981, to the Art Gallery of Ontario[/caption]   I get a lot of inquiries from clients with art or collectibles that they want to donate – sometimes during life and sometimes as part of an estate plan.  These long-term collectors often believe a public gallery, museum or educational institution is the best “one stop” destination for….

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Estate Planning, Philanthropy/Charitable Giving

The National Gallery of Canada’s Purpose

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[caption id="attachment_5336" align="alignleft" width="300"] New Indigenous and Canadian Galleries at the National Gallery of Canada, Courtesy of The Globe and Mail[/caption] At the recent opening of the new Indigenous and Canadian Art Galleries at the National Gallery of Canada (NGC), Director Marc Mayer made a fascinating throwaway comment. Due to the inclusion of historical objects and artifacts made by Canadian indigenous people NGC had to redraft its legal purposes.  In….

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Estate Donations, Philanthropy/Charitable Giving, Uncategorized

Exporting Canadian Art

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  [caption id="attachment_5287" align="aligncenter" width="527"] Lawren Harris, 1926. Sold in November 2016 for $11.2 million.[/caption] Like most countries, Canada has a cultural property regime designed to protect art and objects of cultural significance.  Inspired by UNESCO Convention (1970), cultural property must get clearance from the Canadian Cultural Property Export and Review Board (CCPERB) before it leaves the country.  Outdated elements of this important system are creating challenges for Canadian art….

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Estate Administration, Uncategorized
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