Philanthropy/Charitable Giving

Some donors want their wishes understood and spirit felt long after they are gone. This impulse is part of a long tradition that has found expression in restricted gifts, charitable trusts and private foundations. It’s Halloween. Let’s review three approaches to philanthropic haunting. 1. Donor Recognition Many medieval European churches have records of gifts made, often by will, on the condition that prayers are offered in the memory of the….

Directly designating a charity as the beneficiary of a registered retirement savings plan (RRSP) or registered retirement income fund (RRIF) has a number of advantages, but also a risk. A direct designation gift is arranged by naming one or more charities on the RRSP/RRIF plan documents. After the death of the plan owner (normally the second spouse post spousal rollover), the plan trustee pays the balance of the RRSP/RRIF directly….

Today’s Blog was written by Katie Ionson, Associate at Fasken Martineau DuMoulin LLP In the right circumstances, charitable remainder trusts (“CRT”s) can be a chance to have your cake and eat it too. CRTs can be testamentary or inter vivos trusts. Generally, the settlor and/or someone close to the settlor (e.g. a spouse) receives income from the trust during his or her lifetime. On the life tenant’s death, the capital….