All About Estates

Category: Estate Donations

Total 29 Posts

Families and Lessons Learnt Along The Way V: 2

The more people/families I meet, the more I am amazed that there can be so much conflict that continues….. Many estate practices are busy because of familial conflict. We all know families that are not on speaking terms. In most cases, money has something to do with it. I wanted…

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Annulled Charities

Annulment is one of those antiquated words the whispers “convenience” and “pragmatism”.  Failed or incomplete marriage?  Divorce not an option? A Church-granted annulment will set both partners free.  Annulment is also a term in the Income Tax Act that applies to registered charities and registered amateur athletic associations. It’s rarely used, and…

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Estate donations, Time and Flexibility

Last week I visited Princess Margaret Cancer Centre in Toronto for a grant status update meeting with a family foundation. I used to work at the Princess Margaret Cancer Foundation, but left 20 years ago. Returning after two decades provided me perspective on two key charitable estate planning considerations: time…

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Canadian Donation Incentives Explained

Generous but Complex and Opaque Canada has the most generous tax incentives for charitable giving in the world, but few Canadians understand what they save and how the system works. Why the paradox?  Here’s a longer-than-usual blog providing an overview for your future reference. For starters, it is helpful to…

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Does Charity Data Matter?

What role do data and metrics play when we make charitable donations? Often very little. And that, in certain cases, is a good thing. This was brought home to me twice recently. First, at the 40th Annual Toronto Star Christmas Carol Concert in early December and then by an estate…

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Charitable Donations – What Do You Get in Return?

Each December, we are reminded that this is the season of giving. As we are encouraged to lend our support to worthy causes, it is helpful to understand the extent to which donors can control the use of their funds and oversee the direction of a charitable project. Meddling in…

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Art and Fair Market Value

Fall art auction week in Toronto is just past. The biggest is run by Heffel Fine Art Auction. The results for the two Heffel auctions illustrate the challenge of determining fair market value in art. The auction catalogue listed a number of estates and charitable foundation as consignors. Clearly art valuation…

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Charities and Political Activities

  A battle has been waging in Canada since 2012 over “political activities” by registered charities. The previous Federal Government initiated an audit by Canada Revenue Agency (CRA) of 60 registered charities, which was discontinued in 2017 by the current government. On July 16, 2018, the Ontario Superior Court of…

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Artist Foundations

In the U.S. there is a generation of contemporary artists who have never been richer and they are endowing – with art and money – some significant foundations. Cy Twombly Foundation, for example, reportedly has assets of over $1.5 billion. There is even a support initiative called the Artist-Endowed Foundation…

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Donate to Eliminate Clauses

Last week I received a call from a client who wished to include a “donate to eliminate” clause in his will. His goal is to wipe-out all taxes in his estate by giving just the right amount to his favorite charities. A few years ago, this planning idea was all…

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