Charitable Giving

Total 81 Posts

Tax Considerations for Gifts of Art in Canada

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Gwenyth Stadig, Associate and Upama Poudyal, Articling Student  – Gowling WLG (Canada) LLP An increasing number of Canadian taxpayers are interested in giving pieces of art to charities or other qualified donees as part of their estate plans. Some of these Canadian taxpayers are choosing to make decisions to give such art during their lifetimes, while others are setting down a plan for their gifts of art to occur at….

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Charitable Giving, Estate Donations, Estate Planning, Uncategorized, valuation, Wills

The Price is…Dependant Relief?

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Today’s blog is written by Jessica J. Butler, Law Clerk at Fasken LLP TV legend Bob Barker passed away on August 26, 2023 at the age of 99 – just 4 months shy of his 100th birthday.  Bob was probably most well known for being the legendary host of the long-running game show The Price is Right (and, like me, you may also have the image of Bob’s right hook….

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Charitable Giving, Dependant Support, Estate Administration, Estate Planning

Charitable Bequests in Wills

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This blog was written by Courtney Lanthier, Law Clerk at Fasken LLP.   We often hear in the news of beloved celebrities passing away after years of lucrative careers. It’s also common to speculate as to how their estate will be distributed. Many celebrities have either left, or plan to leave, the majority of their estate to various charities. Bob Barker, who passed away last month, has left his estate….

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Charitable Giving, Estate Donations, Estate Planning, In the News, Philanthropy/Charitable Giving, Wills

The Perpetual Debate over Endowments

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  Charitable endowments are having a challenging moment.  Despite the historical success of this medieval European charitable fund structure, the accumulation of capital for public benefit has always faced controversy.  Endowments, which focus on long-term public benefit, have a built-in tension between capital and annual spending.  Does the capital exist to provide steady future good, or could it be used better now?  Canadian Context Canadian private and public foundations hold….

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Charitable Giving, Philanthropy/Charitable Giving, Uncategorized

The Cy-Près Doctrine: When Good Intentions Count For Something

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The cy-près doctrine It is common practice to leave a gift to a charity in your will. However, the charity that the testator wished to support may not have been named properly in the will (leading to confusion about who was supposed to benefit from the funds), or may have ceased to exist by the time the testator died. Where a testator intended to benefit a charity, the courts have….

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Charitable Giving, Estate Administration, Estate Donations, Estate Litigation, Estate Planning, Executors, Philanthropy/Charitable Giving, Trustee, Trusts, Wills

Private foundations & private company shares

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Philanthropic individuals that own their wealth in a private company may want to set-up a charitable legacy by donating some of their shares or debt to a private foundation. Although this sounds like a great idea, caution needs to be exercised. Donations of private company shares or debt to a private foundation may not result in a charitable donation tax credit under the Income Tax Act (ITA) due to the….

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Charitable Giving, Philanthropy/Charitable Giving, Tax Issues
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