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Legacy Donations

Legacies are a tax-efficient: a gift to charity is exempt from Inheritance Tax, and what is more, it might bring the total estate below the Inheritance Tax threshold because gifts to charities are deducted first and only what is left is liable to the tax.

Your Guide to Making a Will

No one likes to prepare for the time when they die. But we all have to, for the sake of our loved ones. A properly drawn-up Will makes things easier for your family when the time comes and ensures that those closest to you receive exactly what you want them to.

Leaving a gift

You can choose to leave any of several different kinds of gifts to a nominated person or charity. The two most common are:

Monetary gifts

A fixed amount of money to a person or organisation.

Residuary gifts

After making specific and/or monetary gifts, the residue of your estate can be left to one person or organisation, or divide amongst many.

Changing a Will

One of the golden rules in Will-making is to keep your Will up-to-date. Check it every couple of years or when you have a change in circumstances. This could be a marriage, divorce, birth or death in your family. Chances are you won’t have to make a new Will unless the changes are extensive. Your solicitor may simply make a codicil. This is a simple declaration that adds a new instruction to your existing Will, for example when you want to leave a bequest to a charity or to a new family member.