Recently I received an inquiry from a life insurance advisor about a client who wished to establish a policy and donate it to two charities. My colleague wanted to know if this was possible. In my experience it is possible, but not the best way to do it. Donation Structures…
Tag: Donations
Total 5 Posts
When I was a young charitable gift planner, my charity was offered a cluster of islands on Georgian Bay. Surrounding the 100-year-old family cottage were sheds, cabins and boat houses. The donors had a vision: it would be a children’s camp. It was a stunning property. Valuable, despite the sagging,…
The 2019 Federal Budget was uneventful in terms of charitable incentives (journalism aside), but there are two proposals that will directly affect giving. The first relates to donations of cultural property – especially art with foreign origins – and the second to employee stock options. The former represents the reinstatement…
Life Insurance Gifts Restructured
By Malcolm Burrows •
September 26, 2016
Life insurance is an effective way to make a significant future donation, but the unfortunate reality is that charitable policies have a high lapse rate. Thousands of policies have been donated since 1979 when the Canada Revenue Agency allowed premiums to be receipted. Sadly too few pay out to fund…
Donations involving Private Company Shares & Real Estate
By Malcolm Burrows •
September 25, 2015
The announcement in the 2015 Federal Budget that capital gains would be eliminated on donations involving private company shares and real estate was short on detail. As a result the measure, which would be effective beginning 2017, was not passed by Parliament. In mid-summer, the Department of Finance released the…