Philanthropy/Charitable Giving

Total 173 Posts

Donations of Existing Life Insurance Policies

In 2008, Canada Revenue Agency changed the valuation rules for donations of existing life insurance policies to registered charities. Previously, policy donations were receipted for cash surrender value, which many policies don’t contain. Now, policy donations are receipted for the appraised fair market value (FMV), which may exist regardless of the existence of cash or equity in the policy. What have we learned about these gifts so far? 1. Supply….

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Charitable Giving, Estate Planning, Philanthropy/Charitable Giving

Philanthropic Ghosts

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….

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Estate Planning, Home-Right, Philanthropy/Charitable Giving

Gifts of RRSPs/RRIFs by Direct Designation

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….

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Estate Planning, Home-Right, Philanthropy/Charitable Giving

Charitable Remainder Trusts – A Capital Idea

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….

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Estate Planning, Home-Right, Philanthropy/Charitable Giving

Charitable bequests and stock market turmoil

Tumbling stock markets always stir up anxieties. This is certainly true for charities that depend on donations, as well as for the donors who give to them. One type of donation that is remarkably unaffected by market roil is the bequest.

Canada is seeing a steady, long-term increase in charitable bequests because of a combination of societal factors. These factors include the aging of society, greater concentration of wealth, smaller and non-traditional families, increased profile of philanthropy, and generous tax incentives for gifts of assets. Over the last 20 years, an environment has been created where more Canadians are feeling comfortable with devoting a significant portion of their net worth to charity. ….

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Estate Administration, Estate Planning, Philanthropy/Charitable Giving
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