We are delighted to have joined the Remember A Charity Campaign Supporter Scheme, helping to discuss charitable giving with our Will-writing clients.
Charitable giving has a long history in the UK, with people choosing to support the causes that matter to them in many different ways. Every donation can have an impact, but it’s gifts in Wills that now form the largest source of voluntary income for charities.
Still, there’s often a lack of awareness around this form of charitable giving, with uncertainty around how it works, how much to give and how to fit donations around gifts for family and friends. That’s why we’ve signed up to Remember A Charity’s campaign charter, working together as part of this national network to help everyone understand the options open to them when writing their Will.
People often feel deeply connected to the charities they support and find the idea of including a donation in their Will appealing. But there’s a common misconception that this type of giving is reserved for the wealthy. In reality, people can give any amount – large or small – to any charity. It all makes a difference, and it can be such a rewarding thing to do.
You can find out more or visit www.rememberacharity.org.uk for inspirational stories about the impact of gifts in Wills. From an estate planning purpose, gifts in Wills are tax-free, effectively increasing the Inheritance Tax threshold on donors’ estates. For people that choose to donate 10% of their net estate or more, this reduces the rate of Inheritance Tax down from 40% to 36%, which can amount to a considerable reduction on larger estates.
If you are considering supporting your favourite cause in your Will or wish to discuss your estate planning purposes, then please get in touch with our Wills, Trusts & Probate team who will be happy to assist and advise you further on the best way to include charitable gifts in your Will.
