Charitable Giving

Total 81 Posts

Proving Charitable Purposes

• • 1 Comment

Charitable purpose trusts are given special status in the law. While most other types of trusts must have a clear end date, charitable purpose trusts may live forever. All other types of trusts have to have specific and defined beneficiaries, yet charitable purpose trusts may exist in order to further a “charitable purpose.” While courts are generous in determining whether the purpose of a trust is charitable, there are clear….

Proving Charitable Purposes Continue Reading »

Charitable Giving, Estate Administration, Estate Donations, Estate Planning, Fiduciary Professions, Philanthropy/Charitable Giving, Trusts

Thank You for Being a Friend – The Legacy of Betty White

• • 0 Comments

Today’s blog has been written by Jessica J. Butler, Law Clerk at Fasken LLP Betty Marion White was born on January 17, 1922 and passed away at her home on December 31, 2021 – just 17 days shy of her 100th birthday. “I feel like crawling under the covers and eating Velveeta right out of the box” – a quote from one of Betty’s most well-known performances as on The Golden….

Thank You for Being a Friend – The Legacy of Betty White Continue Reading »

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

Donor-Advised Funds: Benefits and Drawbacks of the Increasingly Popular Means of Philanthropic Giving

• • 1 Comment

A donor-advised fund is established when a donor makes a contribution to a foundation or financial institution and that fund operates much like a trust fund in that the donor (like a settlor) does not retain legal ownership over any property they place in the fund. However, the foundation or financial institution administering the property “provides administrative and investment assistance to the donor and gives the donor advisory privileges about how it should deal with the donated property.”….

Donor-Advised Funds: Benefits and Drawbacks of the Increasingly Popular Means of Philanthropic Giving Continue Reading »

Charitable Giving, Estate Donations, Estate Planning, Philanthropy/Charitable Giving

Name That Charity!

• • 0 Comments

“Name That Charity” sounds like a failed 1960s game show. Instead, it is an approach to estate planning that paradoxically may discourage charitable giving. This is an observation made by Kathy Hawkesworth of the Edmonton Community Foundation in a recent presentation to the Society of Estate and Trust Practitioner (STEP). Kathy’s point is financial advisors and estate lawyers often put their clients on the spot. Do they have charitable interests?….

Name That Charity! Continue Reading »

Charitable Giving, Estate Donations, Estate Planning, Philanthropy/Charitable Giving, Uncategorized

Increase In House Value Means $1.4 million Gift to SPCA

• • 1 Comment

For many people who own the house in which they live, their home is the most valuable asset in their estate. In many communities in Canada, house values have steadily increased over the last several years and particularly during the COVID-19 pandemic. This means that the value of an estate may be much greater at the time of the testator’s death than when the testator prepared and signed the last….

Increase In House Value Means $1.4 million Gift to SPCA Continue Reading »

Capacity Law, Charitable Giving, Contested wills, Estate Litigation

Charitable remainder trusts: what are they and when are they useful?

• • 1 Comment

A charitable remainder trust (CRT), although not widely used in Canada, can be a useful charitable giving tool that generates an immediate tax credit for the donor. In an inter vivos context, an individual establishes an alter ego trust and transfers property to the trust on a tax-deferred basis. The trust holds the property for the benefit of the individual during the individual’s lifetime, entitling the individual to the trust’s income but….

Charitable remainder trusts: what are they and when are they useful? Continue Reading »

Canada Revenue Agency, Charitable Giving, Estate Donations, Estate Planning, Tax Issues, Wills
Scroll to Top