Leaving a Charitable Donation in a Will
Millions of people the world over will during the course of their lives find themselves changed for the better thanks to the work of a local, national or international charity. It could be that they themselves have fallen on hard times and been helped out or perhaps they have chosen to work as a volunteer to witness first-hand the incredible difference such groups can make. Needless to say, the way in which a charity is able to touch the lives of those it may come into contact with is the sole means by which its future can be assured, which is why more and more are considering the idea of including a beloved charity in their final Will.
Leaving a charitable donation in a Will is fast becoming one of the most common and popular ways be which to show appreciation and care for the future of the charity as a whole. In fact, without the ongoing gifts offered to charities through Wills across the country today, hundreds of key charities would have been wiped off the face of the Earth. By considering the inclusion of a charity in a Will with plenty of forethought, it is perfectly possible to ensure a valuable gesture is made while at the same time looking after the interests of family, friends and all others traditionally included in an final Will and Testament.
An individual charity and use for the money can be named directly in the will, or the money can be left to an authority to decide its most valuable use. As such, if providing new changing room benches for a local school has long been a desire in mind, it is perfectly possible to be exactly this specific in order to earmark the money for a particular use. What’s more, charitable donations can also help to reduce the level of inheritance tax payable on the estate as a whole, given the way in which the sum is deducted before tax is applied.
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