Tag: Charitable Giving

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Leaving a Legacy Through Charitable Giving Part 2 (Ep. 10)

Leaving a Legacy Through Charitable Giving Part 2 (Ep. 10)

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Last time on From The Source with Frankie and Sarah, they spoke about estate planning focusing on charitable giving through your Will, featuring Frank Cerisano.

Today, Frankie and Sarah discuss the tax implications of charitable gifts,  particularly the difference between doing it through your will versus during your lifetime. They cover the importance of donating to registered charities for the purpose of obtaining a tax receipt, the value of the donation that can be claimed, and the need for proper documentation. They also explore the different ways individuals and corporations can donate, including the tax benefits of donating publicly traded securities directly to charities. Sarah and Frankie emphasize that recent proposed changes to the alternative minimum tax (AMT) may impact decisions on whether to donate personally or through a corporation.

Frankie and Sarah discuss: 

  • Potential tax benefits of charitable giving
  • Why charitable receipts from qualified donees are necessary
  • The different ways you can donate
  • Considerations for donating to non-Canadian charities
  • A refresher of the proposed alternative minimum tax (AMT) changes
  • Whether you should donate personally or through a corporation
  • The differences between gifting during your lifetime versus through your estate

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Connect with Frankie Loreto and Sarah Netley: 

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Leaving a Legacy Through Charitable Giving with Frank Cerisano (Ep. 9)

Leaving a Legacy Through Charitable Giving with Frank Cerisano (Ep. 9)

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It’s the holiday season, a season of giving, so we’re jumping back into our conversation about estate planning with today’s focus on charitable giving through your Will.

In this episode, Frankie and Sarah speak with Frank Cerisano, CEO of the Bowmanville Hospital Foundation, about leaving a legacy through charitable giving. They discuss the importance of researching charities before leaving a bequest in your Will, the potential issues that can arise with overly restrictive donations, and the key role a lawyer plays in supporting an executor of an estate with charitable gifts. They also discuss the concerns around the proposed changes to the Alternate Minimum Tax rules and how these changes could impact charitable giving across Canada.

Frankie, Sarah, and Frank discuss: 

  • Why it’s important to do your research and find a charity that aligns with your values before leaving a bequest in your Will
  • The differences between donating a fixed sum and leaving the charity a residual interest in the estate
  • Initial steps the executor should take when administering an estate with a large bequest to a charity

Connect with Frankie Loreto and Sarah Netley: 

Connect with Frank Cerisano:

About Our Guest: 

Frank Cerisano is the CEO of the Bowmanville Hospital Foundation. Frank has been in the nonprofit sector for almost 30 years with a specialty in fundraising. He has helped numerous charities all over Ontario, across all of Canada, and down along the eastern seaboard of the United States.

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