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…
Category: Estate Donations
Total 69 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,…
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…
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…
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…
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…
Earlier this year, my colleague Justin de Vries blogged about the post-mortem release of dueling love letters from T.S. Eliot and his friend/inamorata Emily Hale. However, there is now a happier news story regarding the impact of Mr. Eliot from beyond the grave. The Bronte Parsonage, in England, is a…
Canada’s 85,896 registered charities have wide-ranging capacity, but these variations are often underappreciated. Estate donors – and their professional advisors – often focus on cause and tax status, but ignore organizational health indicators like history, funding, staffing, and governance. What should estate donors look for in a charity? Although all…
The WE Charity scandal has been fascinating to charity watchers. On July 22, it was revealed that the Canadian Government contracted with the WE Charity Foundation for the Canada Student Service Grant (CSSG) program, not the WE Charity as previously reported. Parallel public foundations often co-exist with operating charities (charitable…
An “ah ha” of COVID-19 is the importance of unrestricted giving to charity. Donors, foundations and charities are realizing that excess conditions may hinders responses to urgent social needs. Will this insight last beyond the pandemic? And does it apply to estate donations? Trust-Based Philanthropy First a bit of context. …