The new trust reporting rules’ potential impact on internal charitable trusts, endowments, and donor advised funds
The Canada Revenue Agency has clarified on November 10, 2023 that charities are not required to file T3 information returns for internal trusts. Please see our November 10, 2023 Social Impact Newsletter article for more information. Introduction We have previously […]
Testamentary charitable giving and the graduated rate estate: A refresher
Forms of testamentary charitable giving Charitable gifts made by testators through their wills can take many forms: outright legacies or bequests; a gift of all or part of the residue of the estate; a contingent gift to be made in the […]
Elena Hoffstein featured on RBC’s “Matters Beyond Wealth” podcast
RBC Matters Beyond Wealth Podcast
Elena Hoffstein is the featured guest on the December 7th, 2022 episode of RBC’s “Matters beyond Wealth” podcast. Speaking about “”Are Trusts Dead?”, Elena outlines the top three reasons that clients should consider trusts as part of their estate planning, […]
Elena Hoffstein and Stephen Hsia write on the laws governing gifts by will
The Philanthropist, "The laws governing gifts by will – and the pressures they put on executors"
In this article, Elena Hoffstein and Stephen Hsia propose that extending the window for executors to make a testamentary gift to charity could unlock more giving to the charitable sector: Executors have 60 months from a donor’s death to make […]
Family’s dynamics: A critical consideration for effective estate planning
Introduction A well-executed estate plan ensures that wealth is transferred from one generation to another in a tax effective and strife-free way. Crucial to the planning process is a consideration of the many potential pitfalls that may emerge during both the […]
Key considerations for gift agreements
It is not necessary to have a gift agreement in order to make a gift. However, it is important for charitable gifts and charitable pledges made by donors to charities be documented. A gift agreement provides evidence that a gift […]
M. Elena Hoffstein co-authors 2nd edition of Charitable Giving in Canada
M. Elena Hoffstein is the co-author of Charitable Giving in Canada (2nd edition), released in 2021 by Thomson Reuters. Charitable Giving in Canada provides a comprehensive but practical tool to assist professional advisors, charities, corporations and individuals who wish to […]
CRA’s views on charitable remainder trusts
Introduction Charitable remainder trusts have been popular in the U.S. for some time but not as widely used in Canada as a result of differences in our tax regime. A charitable remainder trust involves an individual who wishes to make […]
Passing on the family cottage
For many families, a summer or winter home or cottage is one of their most treasured assets. Most cottage owners want the cottage to stay in the family for generations. However, this requires significant thought and planning. Families need to […]
Estate freeze: The time is now
The COVID-19 pandemic is currently causing over half of the global population to be living under some form of self-isolation. Provincial and territorial government directives are properly constricting business and social activity across Canada to protect our collective health and […]
