Estate Donations

Total 88 Posts

Donations from Spousal and Other Trusts

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[caption id="attachment_11560" align="aligncenter" width="480"] Operation, Christian Schad, Lenbachhaus, Munich[/caption] To paraphrase the common law, a gift must be “freely given without consideration”. “Consideration” means without expectation of benefit, which eliminates contractual or other binding rights. This concept was addressed by my colleague Darren Lund in a recent All About Estates blog on charitable donations from alter ego and spousal trusts. Tax Credit or Certainty? The issue: how can a testamentary….

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

Gift of Ecologically Sensitive Lands and the Carryover period for charitable donation deduction

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In Yellow Point Lodge Ltd. v, The Queen DTC 1130, the Company owned certain lands on Vancouver Island, mostly undeveloped and in its natural state. In June 2008, the Company granted a covenant and other specified legal interests with respect to a parcel of ecologically-sensitive land, to two organizations, with estimated fair market value in excess of $5 million. Initially, the Company did not claim a deduction in respect of….

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Canada Revenue Agency, Estate Administration, Estate Donations, Estate Planning, Real Estate, Tax Issues, Uncategorized, Wills

Wine and Estate Planning

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I recently went looking for information to assist wine and spirit collectors with their estate planning. To my surprise there is little material online.  It’s easy to uncovered truth by drinking wine – “in vivo veritas” – but much harder to find a comprehensive Canadian resource about estate planning for collectors. After meditating on this paucity over a bottle of Okanagan pinot noir that I found in my cellar (well,….

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Estate Administration and Probate Applications, Estate Donations, Estate Planning, Uncategorized

4x $100 million+

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[caption id="attachment_9581" align="aligncenter" width="640"] Looking south to the U of T Schwartz Reisman Innovation Centre, image by Weiss/Manfredi[/caption]   In 11 weeks between March 25 and June 3, 2019 three $100 million dollar charitable donations were announced in Ontario. On February 13th, McGill University in Montreal announced a $200 million donation. These are enormous sums, and this unprecedented donation cluster is just the beginning of bigger things to come. It’s….

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Estate Donations, Philanthropy/Charitable Giving, Uncategorized

Canada’s Greatest Impact Donation

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The FitzGerald Building at the University of Toronto housed the School of Hygiene (Public Health). It was funded by The Rockefeller Foundation with a $650,000 grant in 1927. What’s the greatest impact donation in Canadian history? I’d argue it is a forgotten gift of $75,000 made by Colonel Albert E. Gooderham in 1915 to purchase and outfit a farm north of Toronto for the Connaught Laboratories to produce vaccines for….

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Estate Donations, Philanthropy/Charitable Giving, Uncategorized

Families and Lessons Learnt Along The Way V: 2

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The more people/families I meet, the more I am amazed that there can be so much conflict that continues….. Many estate practices are busy because of familial conflict. We all know families that are not on speaking terms. In most cases, money has something to do with it. I wanted to share with you one family’s story that perhaps can give us pause for reflection and perhaps to change an….

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Estate Donations, Estate Litigation
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