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Leaving gifts to charity in your will
The International Day of Charity takes place annually on 5 September, but did you know that one of the best ways to support a charity is to leave them a gift in your will? Many charities in the UK rely on donations left behind by their supporters, and any gift you leave could make a vital difference to the work of the organisation. There are many benefits to leaving money to a charity for your estate too, including tax relief. In this article, we look at some of the most common questions people have about leaving money to charity in their will.
Manzurul Islam, Head of Wills and Probate at Mullis & Peake LLP, said:
“Leaving something for charitable purposes is a great option to consider when preparing a will. You can help to benefit a cause close to your heart long after you have gone as well as reduce or even eliminate any potential inheritance tax liability your estate might otherwise have had.
“The main consideration to be aware of is ensuring that your family and dependants have been properly provided for first, otherwise it could lead to both upset and litigation; something everyone wants to avoid.
“However, providing it is drafted properly there are few downsides to leaving a charitable legacy if you can afford to do so”.