Malcolm Burrows

Total 162 Posts

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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

Nobel Peace Prize’s Breach of Trust?

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Norwegian lawyer Fredrik Heffermehl thinks the Nobel Foundation has blatantly ignored the intentions of Alfred Nobel for his namesake Peace Prize. Nobel’s will stipulated that the prize be awarded to the ”most worthy champions of peace”. Specifically it should go to “the person who shall have done the most or the best work for fraternity between nations, for the abolition or reduction of standing armies and for the holding and….

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Charitable Giving, Contested wills, Philanthropy/Charitable Giving, Trustee Disputes

Donations involving Private Company Shares & Real Estate

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The announcement in the 2015 Federal Budget that capital gains would be eliminated on donations involving private company shares and real estate was short on detail. As a result the measure, which would be effective beginning 2017, was not passed by Parliament. In mid-summer, the Department of Finance released the technical details and invited public comment. Feedback is due on September 30, 2015. The Federal election makes the future of….

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Charitable Giving, Estate Administration, Estate Planning, Philanthropy/Charitable Giving

Donations of Existing Life Insurance Policies

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In 2008, Canada Revenue Agency changed the valuation rules for donations of existing life insurance policies to registered charities. Previously, policy donations were receipted for cash surrender value, which many policies don’t contain. Now, policy donations are receipted for the appraised fair market value (FMV), which may exist regardless of the existence of cash or equity in the policy. What have we learned about these gifts so far? 1. Supply….

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Charitable Giving, Estate Planning, Philanthropy/Charitable Giving

Philanthropic Ghosts

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Some donors want their wishes understood and spirit felt long after they are gone. This impulse is part of a long tradition that has found expression in restricted gifts, charitable trusts and private foundations. It’s Halloween. Let’s review three approaches to philanthropic haunting. 1. Donor Recognition Many medieval European churches have records of gifts made, often by will, on the condition that prayers are offered in the memory of the….

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Estate Planning, Home-Right, Philanthropy/Charitable Giving

Gifts of RRSPs/RRIFs by Direct Designation

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Directly designating a charity as the beneficiary of a registered retirement savings plan (RRSP) or registered retirement income fund (RRIF) has a number of advantages, but also a risk. A direct designation gift is arranged by naming one or more charities on the RRSP/RRIF plan documents. After the death of the plan owner (normally the second spouse post spousal rollover), the plan trustee pays the balance of the RRSP/RRIF directly….

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Estate Planning, Home-Right, Philanthropy/Charitable Giving

Gifts from RRIFs in Life

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I get a steady flow of inquiries about donating funds from registered retirement income funds or RRIFs. The value of RRIFs has grown through careful saving and market gains, and occasionally these funds represent surplus wealth. Some RRIF holders resent the requirement to take steadily increasing annual withdrawals from their RRIF. Add a dash of altruism and the idea of donating RRIF property arises. There are a couple of factors….

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Estate Planning, Home-Right
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