Charitable Giving

Scheming With a Purpose

• • 0 Comments

This week’s blog has been written by Darren Lund In Ontario, as in most common law jurisdictions, charitable gifts are treated differently than other gifts in important ways. One of the clearest examples of this is that a gift for a charitable purpose will generally not fail for uncertainty. In addition, the court’s inherent “scheme-making power” may save a charitable gift where the charitable purpose cannot be carried out, or….

Scheming With a Purpose Continue Reading »

Charitable Giving, Courts, Estate Donations, Estate Planning, Wills

The Season of Giving is Upon Us

• • 0 Comments

This post was written by Jess Merber and Jo-Anne Ryan – TD’s Private Giving Foundation and Philanthropic Advisory Services. With the charitable giving season in full swing, it’s important to understand year-end tax planning and the value it can offer to clients who have charitable ambitions. When talking to clients, we recommend they consider these points: Donate publicly traded securities. It is always better to donate appreciated publicly traded securities….

The Season of Giving is Upon Us Continue Reading »

Charitable Giving

Gift of securities by executors of a will

• • 1 Comment

The Canada Revenue Agency provided its views regarding the income tax implications of a gift made by executors of an estate of a deceased individual. The taxpayer died in 2016.  His Will named his three sons as equal beneficiaries and co-executors, with no designation of amounts to be given to charitable organizations but giving the co-executors the flexibility to make donations if they wish.  His assets at the time of….

Gift of securities by executors of a will Continue Reading »

Canada Revenue Agency, Charitable Giving, Estate Planning, Executors, Tax Issues, Trustee, Uncategorized, Wills

GIFTS – Some Additional Thougths

• • 0 Comments

Recently, I wrote about the gifting of cash or assets during one’s lifetime as an alternative method of distributing your wealth (beyond what you need to live on comfortably) and possibly avoid taxes (probate, income etc.) at time of death. I suggested that your heirs could use the funds in a manner that will likely cost less tax: For example pay down some personal debt, apply it as a deposit….

GIFTS – Some Additional Thougths Continue Reading »

Canada Revenue Agency, Charitable Giving, Estate Litigation, Estate Planning, Family Conflict, Investments, Joint Tenancy, Loans, Philanthropy/Charitable Giving, Probate Tax, Property, Real Estate, Tax Issues, Trusts, Uncategorized

Estate Planning – Can You Just Give Some of it Away?

• • 1 Comment

A recent article in the press reminded me of a trend in estate planning which appears to be taking more favor in recent times. It is not very complicated, can lead to considerable tax savings and other benefits while you are with the living. I am referring to the gifting of cash or assets during your lifetime. Many people who consult me and other members of my practice are often….

Estate Planning – Can You Just Give Some of it Away? Continue Reading »

Charitable Giving, Estate Administration, Estate Donations, Estate Planning, Investments, Probate Tax, Tax Issues, Uncategorized

CHARITABLE GIFTS AND GRADUATED RATE ESTATE DESIGNATIONS: CAN YOU GIFT BEFORE YOU DESIGNATE

• • 0 Comments

Assume Mr. X died in early 2016. Mr. X’s estate appears to meet all of the requirements to be a graduated rate estate (“GRE”), except the 1st return has not been filed as yet to formally designate it a GRE. The estate made a charitable donation in early 2017; at the time of the donation, the estate had not met all the requirements of the GRE definition in the Income….

CHARITABLE GIFTS AND GRADUATED RATE ESTATE DESIGNATIONS: CAN YOU GIFT BEFORE YOU DESIGNATE Continue Reading »

Canada Revenue Agency, Charitable Giving, Estate Administration, Estate Donations, Estate Planning, In the News, Property, Tax Issues, Uncategorized
Scroll to Top