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Want to leave part of your estate to charity? Here’s what you need to know

Leaving part of your estate to charity is a wonderful way to create a lasting legacy. It allows you to support causes close to your heart, even after you’re gone.

But how do you go about including a charity in your will, and what are the benefits?

How do I leave a gift to charity in my Will?

Including a charity in your will is simpler than you might think. The process involves:

Choosing the charity – Choose a registered charity so that your gift can be used effectively, and so you can also benefit from tax relief.
Deciding what to give – There are a few different options when it comes to the type of gift you leave:
- A pecuniary gift, which is a specific sum of money.
- A residuary gift, which is a percentage of what’s left of your estate after all other gifts, taxes, and debts have been paid.
- A specific gift, which could be an item such as property, shares, or valuables.
Updating your Will – If you already have a Will, you can update it to include the charity by adding a codicil, which is a simple amendment. If you don’t have a Will yet, this is a great opportunity to create one with clear instructions.

Do I have to give all my estate to charity?

No, you can choose to leave just a portion of your estate to charity, whether it is a specific sum or a percentage of your estate.

This allows you to provide for your loved ones while still making a meaningful contribution to a cause you care about.

Can I choose more than one charity?

Yes, you can name as many charities as you like in your Will. If you support multiple causes, you can divide your gift between them, either as equal shares or by assigning different amounts to each.

Will leaving a gift to charity reduce the Inheritance Tax my estate has to pay?

Yes, leaving a gift to charity can reduce your Inheritance Tax (IHT) bill.

Gifts to registered charities are exempt from IHT, which means the amount you leave to charity won’t be taxed.

Plus, if you leave 10 per cent or more of your estate to charity, the IHT rate on the rest of your estate drops from 40 per cent to 36 per cent.

This is a great incentive for those who want to balance giving with protecting their loved ones’ inheritance.

What if I change my mind later?

You are free to update your Will at any time if your circumstances or wishes change.

If you decide you no longer want to leave a gift to charity, or you wish to include a different charity, this can be done by either rewriting your Will or adding a codicil.

If you are considering including a charity in your Will, our team is here to help guide you through the process and answer any further questions you may have.

Get in touch with us today to discuss your options.

Mander Hadley

Mander Hadley Solicitors is not only a long established firm, but is vibrant and successful, with a forward thinking approach.