Leaving a Legacy to Charity
The year Neves first opened its doors in 1867 was also the year Dr Thomas Barnardo established his first school for poor children. Moved by the sight of vulnerable Victorian children sleeping on rooftops and in doorways, he soon opened his first children's home. More than 150 years later, the charity he founded continues to transform the lives of children and young people across the UK.
Through our work preparing Wills, we see first hand the difference charitable legacies make. Many people choose to leave a gift to charity in their Will, whether they have a personal connection to a cause or simply want to support an organisation whose work they value. For many charities, these gifts provide vital funding that enables them to continue delivering life changing services and support.
Research shows that around 35% of people would like to leave a charitable gift in their Will, yet only around 6% actually do. Often, this is because people are unaware of the options available or are unsure about how to include a charitable donation alongside provisions for family and loved ones. If charitable giving is something you are considering, we will be happy to explain the different options available and help you decide what is right for you.
Will leaving a charitable legacy in my will reduce the Inheritance Tax payable?
It is worth noting that gifts left to registered charities are generally exempt from Inheritance Tax. In some cases, including a charitable legacy in your Will can also reduce the overall rate of Inheritance Tax payable on your estate, helping you support causes that matter while potentially benefiting your beneficiaries as well.
Regardless of whether you would like to leave a charitable legacy in your Will, our Private Client department would be happy to chat through the options with you. Call 0330 0945 500, email info@neves.co.uk or complete our Contact Form and we'll get back to you.