Private company share donations

An Estate Donation of a Company  

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[caption id="attachment_19850" align="aligncenter" width="471"] Donor Miriam Bergen’s photo is held by her niece, Doris Geitz. (CBC)[/caption] On Giving Tuesday last month, The Winnipeg Foundation announced a $500 million estate donation from a local donor, Miriam Bergen.  The donation is of two companies.  Appleton Holdings Ltd., which owns Edison Properties, which in turn holds 27 rental apartment and commercial buildings in Winnipeg. The donor’s wished that her 200 employees “retain their….

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Estate Donations, Philanthropy/Charitable Giving, Uncategorized

Illiquid Assets and Estate Donations

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Tax relief for an estate donation cannot be claimed until the property is transferred to a charity.  No tax receipt; no tax credits.  If the distribution is after 60 months after death of the donor there is no tax receipt at all.  But what if the estate has illiquid assets that can’t easily be monetized, but may, possibly, be transferred in-kind to a charity? Extended claim period Formally, the tax….

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Estate Administration, Estate Donations, Estate Planning, Philanthropy/Charitable Giving
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