After making specific and monetary gifts, a percentage is left to a charity of your choice. By working out the final amount as a percentage, this way ensures that your loved ones will receive the same provision should your circumstances change before death.
Leaving a legacy to a charity in your will helps to ensure the continuation of their work and has become an ever increasing and reliable source of funding.
Our solicitors can advise you on including a charitable donation in your will as well as providing their knowledge in the sector to find the best way for you to leave a legacy depending on your individual circumstances. For more information or to arrange a free consultation call our Middleton office today on 0161 643 2411, or our Heywood office on 01706 623 511, fill in our online enquiry and we will be in touch.
A specific item is left to charity. This could be a physical item, such as tools or a car, or a property they could use as an office or headquarters.
A fixed gift of money is included in your will.
Incentive for charitable legacies
Charitable legacies can also help reduce the inheritance tax liabilities for your loved ones as part of a new incentive. Official figures show that only 7 per cent of people actually make charitable legacies in their will, despite 35 per cent of people asked indicating they would be happy to do so.
As of the 6th April 2012, a donation pledged to charity of at least 10 per cent of your taxable wealth will see inheritance tax reduced by 4 per cent. In other words, it will reduce the inheritance tax payable from its current level of 40 per cent down to 36 per cent.
How Temperley Taylor can help
With the help of our experienced solicitors including a charitable legacy in your will is quick and simple. If you already have a will, we can help you amend it to include a legacy to your favourite charity or a number of charities.
For more help and advice on charitable legacies get in touch with our Middleton office on 0161 643 2411 or our Heywood office on 01706 623 511. We can also arrange a home visit within 24 hours notice. Alternatively, send us an online enquiry and we will be in touch.