New data from Remember a Charity, a consortium of over 200 charities which aims to increase the numbers of people who leave gifts to charities in their Wills (and whom Jordans Solicitors are proud to support), shows that 27% of people who donate money to charity are now prepared to leave a charitable legacy in their Will, and that there has been a sustained growth in the number of gifts in wills and charities benefitting, as well as the amounts given.
It is as easy to include a gift to your favourite charity in your Will as to include gifts to family and friends. Clearly, the amount you want to give may depend upon your family and financial circumstances.
Furthermore, if you are in the position where inheritance tax could be payable on your estate after your death, then if you leave at least 10% of your estate to charity, this will reduce the rate of inheritance tax payable over your whole estate. This saving in inheritance tax means that you can make gifts to charity in your Will with relatively small impact on the balance passing to your other beneficiaries and, in some circumstances, means that you can leave gifts to charities in your Will without any reduction to the value of the remainder passing to your other beneficiaries.
Stephen Morgan, our STEP (Society of Trusts and Estates) qualified solicitor who works at our Wakefield and Horsforth offices, used to work for a large national charity, and can provide specialist advice in relation to charitable legacies.
We are on hand to help with any queries you may have in regards to Wills and Probate issues. Our wills and probate solicitors are based in Wakefield, Dewsbury, and Horsforth. Feel free to call us on 0330 300 1103 or request a call back by clicking here