Estate Donations

Total 88 Posts

Cultural Property Donations Update

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[caption id="attachment_6826" align="aligncenter" width="650"] Iris bleus, jardin du Petit Gennevilliers, 1892, Gustave Caillebotte, Art Gallery of Ontario[/caption] The charitable tax incentives for donations of certified Cultural Property – art and artifacts – is the richest in Canada.  Cultural Property donations are exempt from capital gains tax and can be claimed against 100% of the donor’s net annual income over up to six years. The incentive is part of a complex….

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Estate Donations, Philanthropy/Charitable Giving, Uncategorized

Valuing In-kind Donations

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There is a saying among charitable gift planners: “beware of in-kind property donors who show up with valuations in hand.”  In other words, eager donors and their gifts may be too good to be true.  This is folk wisdom that points to a serious issue.  Donors, executors and charities often struggle with in-kind donation valuation.  Who commissions and pays for in-kind donation appraisals, the donor or charity? Standard Practice The….

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

Loosening Standards for Charitable Property

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A crisis may change long-held views.  In reaction to the devastating economic effect of COVID-19 a couple of regulators have loosened their rules related to two different types of charitable property.  Will these changes be temporary or will they lead to long-term change?  And what effect does it have on estate donations? Ontario The first announcement was from Ontario. In late March, the Public Guardian and Trustee (PGT) released temporary….

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

Cats, the T.S. Eliot Estate and the Gift that May Save the Brontes’ House

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Earlier this year, my colleague Justin de Vries blogged about the post-mortem release of dueling love letters from T.S. Eliot and his friend/inamorata Emily Hale. However, there is now a happier news story regarding the impact of Mr. Eliot from beyond the grave. The Bronte Parsonage, in England, is a museum of the family home of the Bronte sisters that usually attracts 70,000 visitors per year. Due to the restrictions….

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Charitable Giving, Estate Administration, Estate Donations, In the News

The Charity Capacity Gap

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Canada’s 85,896 registered charities have wide-ranging capacity, but these variations are often underappreciated.  Estate donors – and their professional advisors – often focus on cause and tax status, but ignore organizational health indicators like history, funding, staffing, and governance.  What should estate donors look for in a charity? Although all registered charities can issue donation tax receipts, not all charities can handle significant estate donations or receive more complex assets. ….

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

Foundation v. Charitable Organization

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[caption id="attachment_13341" align="aligncenter" width="766"] We Charity founders Craig and Marc Kielburger (Photo: Getty)[/caption] The WE Charity scandal has been fascinating to charity watchers.  On July 22, it was revealed that the Canadian Government contracted with the WE Charity Foundation for the Canada Student Service Grant (CSSG) program, not the WE Charity as previously reported. Parallel public foundations often co-exist with operating charities (charitable organizations), but the two-charity structure was confusing,….

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Estate Donations, Philanthropy/Charitable Giving, Uncategorized
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