Wansbroughs

WILLS AND CHARITIES: THE OPTIONS

Kathryn Smith Cowap, a Partner in the Private Client team at Wansbroughs

Solicitors provides an overview of how you might wish to use your Will to benefit charity.

Kathryn Smith Cowap

RESIDUARY GIFT

You might decide to leave the whole or a percentage of your residuary estate – what is left after liabilities, debts, funeral expenses, taxes and cash gifts have been paid – to one or more charities. SPECIFIC GIFT

This is a gift of a named item, such as property, jewellery or a work of art.

As no one can predict the future we can also ensure that your Will contains provisions to cover the unlikely event your chosen charity ceases to exist, has changed its name or merged in the future.

CASH GIFT

Instead, you might want to leave a specific sum to a charity or charities. This might be a set figure that you already have in mind or you may wish to include a formula so that the sum equates to 10% of your net estate (thus qualifying your estate for the lower, 36%, rate of inheritance tax).

If you wish to leave a gift to a charity in your Will then please email us at wealth@wansbroughs.com.

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