September 5, 2019
We participated in Solicitors Chat on Twitter answering questions about how a Solicitor can help you include a gift to charity in your Will.
Ruth Appleton from our Private Client department was on hand to provide some much needed guidance.
We’ve set out our answers out below.
What are the benefits of leaving a gift to charity in your will?
Many people will want to benefit Charities that they have supported during their lifetime. A gift in a Will helps the Charities you want to benefit, without you having to worry about your own needs. If your estate is over the Inheritance Tax thresholds then a gift to Charity can also reduce the amount of tax payable.
What types of gift can you leave to charity in your will?
As with any gifts, you can leave a specific sum of money or a share of your Estate.
Can you specify in your Will how you wish a charity to use a specific gift?
You can specify that the gift goes to a specific project being carried out by a Charity, or to be used in a particular type of work. Depending on their needs this is not always binding on them.
What happens if your gift to charity is challenged? Is there any way to avoid this happening?
There is no way to absolutely avoid a gift being challenged, but only certain types of close relatives can do so. Charities will defend any challenges against gifts to them.
Do donations to charities outside the UK differ?
There may not be Inheritance Tax allowances available against an overseas Charity. It may also be more difficult for your Executors to deal with the gift.
How can a solicitor help you leave a gift to charity in your will?
Having your Will prepared by a legal professional ensures everything is done correctly for the benefit of your beneficiaries, minimises the risks of errors in the Will and any challenges to your Will, and gives you peace of mind.
For more information about how we can help draft your Will, visit our website. https://www.tayntons.co.uk/services-for-you/wills-trusts-and-lpa/making-a-will/
If you would like some more information about how to include a gift to a charity in your Will, contact Ruth Appleton on 0800 158 4147 and book an initial consultation today.