Planned (or deferred) giving can be an excellent way to donate to charity, but not everyone understands the many options available to them...and that includes the charities! In this installment of our miniseries about the legal side of planned giving, Adam Aptowitzer, a lawyer with the Ottawa-based law firm Drache LLP, explains what a private security is, the benefits of donating securities to charity, and the tax pitfalls you should be aware of.
Planned (or deferred) giving can be an excellent way to donate to charity, but not everyone understands the many options available to them...and that includes the charities! In this installment of our miniseries about the legal side of planned giving, Adam Aptowitzer, a lawyer with the Ottawa-based law firm Drache LLP, weighs in on whether or not it is a good idea to donate your RRSPs to charity, the tax consequences upon doing so, and the complications a charity may face when accepting RRSPs.
Nonprofit organizations are often encouraged to include a lawyer on their board of directors. Afterall, what group couldn't benefit from some free legal advice now and then. But it's not quite as simple as that. Adam Aptowitzer, a lawyer with the Ottawa-based law firm Drache LLP, explains when it is a good idea to have a lawyer on your board of directors, what an organization can and can't expect from a lawyer serving on its board, and the conflicts of interest that may arise.
The Canada Revenue Agency (CRA) recently published a list of model objects (charitable purposes) that nonprofit organizations can consult before applying for charitable status. Adam Aptowitzer, a lawyer with the Ottawa-based law firm Drache LLP, explains what these model objects are, and how they may help organizations get through the registrations process more quickly and with less difficulties along the way.
As the CRA website states, "If an organization uses a model object, the CRA will usually not need to discuss the wording of the object with you. This may speed up the decision making processes."
Planned (or deferred) giving can be an excellent way to donate to charity, but not everyone understands the many options available to them...and that includes the charities! In our miniseries about the legal side of planned giving, Adam Aptowitzer, a lawyer with the Ottawa-based law firm Drache LLP, offers advice on accepting and giving planned gifts. In this installment, he explains what flow-through shares are, how they can be used in tax planning, and how charities can benefit from gifts of flow-through shares.
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