Charitable Donations

Gifts from RRIFs

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I get regular inquiries about donating funds from registered retirement income funds or RRIFs. The value of RRIFs has grown through careful saving and market gains, and these funds may represent surplus wealth. Some RRIF holders resent the requirement to take steadily increasing annual withdrawals from their RRIF. Add a dash of altruism and the idea of donating RRIF property arises. The Basics There are a couple of factors to….

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Philanthropy/Charitable Giving

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 Donation Tax Credits – When Can They Be Utilized?

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Many individuals make donations to charities in their Wills. Not only does this fulfill philanthropic goals, but it also provides a tax benefit. Making a charitable gift by will provides donation tax credits which can be used to offset the deemed disposition of capital property that occurs on death…..

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Estate Planning, In the News, Wills

60 Months: Estate Donations Revised

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On January 15th, 2016 the Department of Finance announced changes to the trust and estate donation rules that came into effect at the beginning of 2016.   Three measures affected charitable donations, including two improvements to the “estate donation” rule. 1. Timing of Transfer Estate donations – gifts by will and direct designation gifts of life insurance and registered funds – were originally aligned with the 36-month graduated rate estate (GRE). ….

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Estate Planning, Philanthropy/Charitable Giving
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