| The previous guidance indicated that PRIs had to be limited to qualified donees. |
| When it does, the easy answer is to first withdraw the property from the trust and then reconvey it to the intended donees. |
| Florence, for instance, granted diplomatic gifts according to the rank of the donees, and a special law determined their value. |
| The gifted assets would remain the property of the donees of the insured client. |
| Some donees may be minors, making immediate direct transfers of property to them impractical or impossible. |
| Historically, foundations and other registered charities have enjoyed scope under the Income Tax Act to make gifts to qualified donees. |
