Leaving a Charitable Gift in Your Will: Creating a Lasting Legacy

 

When planning a Will, our first thought is often how to provide for our loved ones. However, many people in the UK also choose to include charitable gifts, or legacy gifts, in their Wills, ensuring that the causes closest to their hearts continue to benefit from their support. These gifts are a powerful way to uphold your values and support the charities that matter most to you, even after you’re gone.

What Are Charitable Gifts in Wills?

A charitable gift in a Will can take several forms, including a cash donation, a share of your estate’s residue, or a specific item. No matter the size, these gifts make a significant difference. UK charities rely heavily on legacy donations which help fund vital services, new initiatives, and ensure long-term sustainability.

Why Leave a Charitable Gift?

People leave charitable gifts for various reasons. Some wish to give back to a cause that has had a meaningful impact on their lives, while others see it as a way to ensure their values live on. For many charities, these gifts are not just generous; they are essential for continuing their work and reaching future generations.

Financial Benefits of Charitable Giving

Including a charitable gift in your Will can also offer tax advantages. Gifts to UK-registered charities are exempt from Inheritance Tax, potentially reducing your estate’s overall tax burden. Additionally, if you leave at least 10% of your estate to charity, the Inheritance Tax rate on the remainder of your estate could drop from 40% to 36%. This allows you to support a cause while still providing for your heirs.

How to Include a Charitable Gift in Your Will

Incorporating a charitable gift into your Will is straightforward. Your solicitor can help ensure that your charitable intentions are clearly stated and legally binding. At Lawson West Solicitors, our experienced Probate, Wills, and Trusts team is here to guide you through the process. We’ll help you explore your options, tailor your Will to reflect your wishes, and ensure that your legacy benefits both your loved ones and the causes you care about.

Points to Consider:

• Communicate with Family: Discuss your intentions with your family to prevent misunderstandings and ensure they appreciate the values behind your decision.

• Choose the Right Charity: Select a charity that aligns with your passions. You can direct your gift to a specific program or allow the charity to use it where it’s most needed.

• Keep Your Will Updated: Regularly review your will to ensure it reflects your current wishes, especially after significant life changes.

A Legacy That Makes a Difference

Leaving a charitable gift in your Will is a meaningful way to continue supporting the causes you care about. Your gift, whatever its size, can help ensure that the charity you choose can continue its work long into the future.

At Lawson West Solicitors, we’re committed to helping you create a Will that reflects your values and leaves a positive, lasting impact. By including a charitable gift in your Will, you can make a difference that endures for generations to come.

Contact Us

We have a broad and experienced team at Lawson West Solicitors, you're in safe hands when discussing your Probate, Trust, LPA or Will matter with us.

If you need assistance, please give our friendly team a call on 0116 212 1000 or 01858 445 480 or complete our Contact Us form.

 

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