The Sting of a Lost Inheritance

Thursday, July 10th, 2014

The rock star Sting recently announced that his six children will not receive his US$300 million estate. Although he was a bit vague about the ultimate destination he intimated it would be charity. We’ve seen versions of this story before. In the tradition of Warren Buffett ...

Estate Donations: Comment on 2014 Budget Provision

Monday, March 3rd, 2014

Sometimes there are pleasant surprises in Federal Budgets. The 2014 version, which was delivered on February 11, contained a subtle but profound change to the tax treatment of estate donations. This change apply to gifts by will (bequests), direct designation gifts of RRSPs, RRIFs, and TFSAs; ...

Get the Will done!

Monday, January 27th, 2014

Years ago I worked at a charitable foundation of a large cancer hospital. One day I was visited by an older patient who wanted to donate shares owned by his late wife. He was her executor and sole beneficiary, and two years after her death he had not ...