Estate Donations

Total 88 Posts

Unrestricted Giving – In Life and Estates

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An “ah ha” of COVID-19 is the importance of unrestricted giving to charity.  Donors, foundations and charities are realizing that excess conditions may hinders responses to urgent social needs.  Will this insight last beyond the pandemic? And does it apply to estate donations? Trust-Based Philanthropy First a bit of context.  In the charity world, particularly among granting foundations, there is a growing movement called “trust-based philanthropy”.  The tenets of this….

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Estate Donations, Estate Planning, Philanthropy/Charitable Giving

The Plague and Charitable Bequests

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[caption id="attachment_12694" align="aligncenter" width="900"] Tabernacle by Orcagna, 1359, Orsanmichelle, Florence[/caption] In 1348 the plague hit Florence – and Europe – hard. Half the population died in this densely populated city of 80,000. One result of this mass die-off was 350,000 florins of bequests to one organization, Orsanmichele, a grain market with a miracle producing Madonna shrine.  How much is 350,000 florins?  It was equal to the annual budget of the….

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Estate Donations, Philanthropy/Charitable Giving, Uncategorized

Are wills an essential service?

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Every COVID-19 day we seem to learn a new phrase.  Not so long ago we discovered “social distancing”, and this week it is “essential services”.  The list of services and businesses that we can’t do without varies by province, but most include financial and professional services, including lawyers.  Wills are an essential service and the demand for them is growing. By pointing this out I don’t mean to be alarmist….

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Estate Donations, Estate Planning, Wills

Leaving a Lasting Impression and Making a Difference

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Today’s blog is being brought to you by guest blogger, Jennifer Campbell, a law clerk in the Private Client Services group of Fasken LLP. When a celebrity dies, outside of the cause of death, it seems the first thing that is reported is what their net worth was at the time of their death and what is being left to family. Recently, Marie Osmond made headlines when she announced that….

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Estate Administration, Estate Donations, Estate Planning, Family Conflict

Charitable Remainder Trusts in Canada

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The Charitable Remainder Trust (CRT) is a gift planning structure that rarely works in Canada.  An import from the U.S. – where it is an integral part of the gift and estate tax regime – the CRT in Canada has fewer tax and planning benefits.  It’s a foreign plant that doesn’t thrive in the Canadian soil. CRTs in the U.S. Introduced in 1969, U.S. CRTs are a defined structure in….

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

Estate Donations to Government

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The title of this blog may provoke laughter, or perhaps, just head-shaking disbelief.  But estate donations to various levels of government do happen. The trick is to ensure that the donor’s intentions are carried out. The Crown – i.e. federal and provincial governments – and Canadian municipalities are qualified donees under the Income Tax Act. Agents of the Crown are also generally included – for example, government agency or university….

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Estate Donations, Philanthropy/Charitable Giving, Uncategorized
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