The festive season is a time for giving, and there’s no better way to leave a legacy than by supporting causes close to your heart. Including a charitable gift in your will is a meaningful way to make a difference, ensuring your generosity continues long after the holiday decorations are packed away. At Southerns Solicitors, we can assist you through the process of including a charitable gift in your will this Christmas.
Why Include a Charity in Your Will?
- Make a Lasting Impact
- Charitable gifts can support causes that align with your values and create a legacy of positive change.
- Potential Tax Benefits
- Gifts to UK-registered charities are exempt from inheritance tax.
- If 10% or more of your estate is left to charity, the inheritance tax rate on your estate may qualify for a reduced rate from 40% to 36%.
- Celebrate the Spirit of Giving
- Christmas is a time of generosity, and a charitable gift ensures your goodwill extends into the future.
Ways to Include Charity in Your Will
- Leave a Fixed Amount
- Specify a set sum to be donated to a charity of your choice.
- Gift a Percentage of Your Estate
- Allocate a proportion of your estate, ensuring the charity benefits alongside your loved ones.
- Donate Specific Assets
- Leave valuable items such as property, shares, or other possessions to a charity.
- Create a Residual Gift
- After taking care of your loved ones, leave the remainder (or a percentage of it) to a charity.
Choosing a Charity
When selecting a charity, consider:
- Registered Status: Ensure the charity is registered with the Charity Commission for England and Wales.
- Alignment with Your Values: Choose a cause that reflects your passions or life experiences.
- Specific or General Purpose: You can specify how you want your gift to be used or leave it to the charity to decide where it’s needed most.
How to Update or Create Your Will
- Drafting a New Will
- If you don’t already have a will, this Christmas is a perfect time to take the first step. Our solicitors can help you create a will tailored to your circumstances and wishes.
- Amending an Existing Will
- If you already have a will, you can add a charitable gift by creating a codicil (a document that updates your will) or create a new Will.
- Seek Professional Advice
- Ensuring your will is legally valid and reflects your intentions is essential. At Southerns Solicitors, we provide expert guidance to make the process straightforward.
A Thoughtful Gift for the Future
By including a charitable gift in your will, you support a cause you care about and set an inspiring example for others. This Christmas, give the gift of hope and impact by making charity part of your legacy.
How Southerns Solicitors Can Help
At Southerns Solicitors, we specialise in will drafting and estate planning, ensuring your wishes are carried out exactly as intended. Whether you’re updating an existing will or creating one from scratch, our experienced team is here to help.
Contact us today to start the process and make this Christmas truly meaningful.
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