All About Estates

Category: Estate Donations

Total 53 Posts

Restricted Charitable Bequests

One the biggest trends in philanthropy of the last thirty-years is the rise of donor-directed or restricted giving.  Donors want more control, which typically results in more restrictions being placed on gifts. But there are risks of placing restrictions on a charitable gift by will. Failure and Cy Pres Simply,…

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Charitable remainder trusts: what are they and when are they useful?

A charitable remainder trust (CRT), although not widely used in Canada, can be a useful charitable giving tool that generates an immediate tax credit for the donor. In an inter vivos context, an individual establishes an alter ego trust and transfers property to the trust on a tax-deferred basis. The trust holds…

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How long is perpetuity?

    “Is perpetuity 21 years?”, asked a charity colleague.  “Well, no, it’s forever.  Or until the end of time, or as long as we collectively exist,” I answered. Despite my emphatic response, the question is a good one because it underscores the inherent meaninglessness of the phrase “in perpetuity”…

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When Private Foundations Die

Private foundations are believed to be durable entities.  Perpetuity is assumed.  Canada Revenue Agency (CRA) data shows, however, that 2,319 private foundations closed during the period 2000 to 2021. Growth in Private Foundations There are currently 6,213 private foundations registered in Canada.  The private foundation is the fastest growing category…

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One in Ten: Why Bequest Donors Don’t Inform Charities

One in ten.  That, according to charitable sector studies, is how many estate donors inform the charities in their will of their intentions.  While this ratio varies by charity it underscores a fascinating paradox.  Bequest donors trust charities enough to make them beneficiaries of their estate, but they don’t trust…

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Restricted gifts of real estate

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,…

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Can You Preserve Your Tattoos After Your Death?

Introduction Last year, I wrote a blog post about estate planning for tattoo artists, which focused primarily on the intellectual property rights of tattoo artists in their tattoo designs and the ways in which such rights conflict with the rights of the people who actually bear such designs on their…

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Cultural Property Donations Update

The charitable tax incentives for donations of certified Cultural Property – art and artifacts – is the richest in Canada.  Cultural Property donations are exempt from capital gains tax and can be claimed against 100% of the donor’s net annual income over up to six years. The incentive is part…

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Valuing In-kind Donations

There is a saying among charitable gift planners: “beware of in-kind property donors who show up with valuations in hand.”  In other words, eager donors and their gifts may be too good to be true.  This is folk wisdom that points to a serious issue.  Donors, executors and charities often…

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Loosening Standards for Charitable Property

A crisis may change long-held views.  In reaction to the devastating economic effect of COVID-19 a couple of regulators have loosened their rules related to two different types of charitable property.  Will these changes be temporary or will they lead to long-term change?  And what effect does it have on…

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