Wills & Probate
© InHouse Wills
Charity Legacies
Helping you, to help charities, to help others
Support your favourite charity - now and in the future.
Charity begins ... InHouse
Many of us like to support the work of one or two charities - perhaps ones that reflect our own interests, or ones that have been of particular help to family and friends. All gifts to charity are free of Inheritance Tax and so they can reduce the tax payable on our estate.
Most charities need all forms of support - from regular giving through to large one-off donations. A gift from a Will can sometimes make all the difference, especially to small local charities. However, national figures suggest that only 7% of Wills include a charity.
In order to support the excellent work that many charities undertake, InHouse Wills & Probate has decided to do something practical about it and are making the following commitment:-
When drafting a Will for a new client, at client request InHouse will donate 10% of the total fee to a charity likely to receive a significant* gift from the Will.
If the legacy is to a local charity, InHouse will raise that charity donation to 20% of the total fee.
This means that as you make your Will the charity receives a small donation right now and then a larger gift from your estate when eventually you pass away. We hope that it will encourage us all to do a little something that makes a difference to the society of which we are a part.
If you are not sure which charity to support, we can make some suggestions of local charities
Currently InHouse is particularly supporting local animal charity East Midlands Dog Rescue
BUDGET 2011: The Chancellor has announced plans to encourage Charity Wills by enhancing the Inheritance Tax rules. From April 2012 there will be a 10% reduction in IHT applicable to an estate, provided at least 10% of the net estate goes to charity. The Chancellor is to consult before finalising the details, but at least he has made it clear that he wants to give extra support to charitable gifts.
*For these purposes, we would like to suggest that a “significant gift” is £1,000 or more and the gift should be expected to occur (e.g. not relying on all the family predeceasing the client for the Charity gift to take place). Of course, you are always free to makes gifts in your Will exactly as you wish, which may include one or more charities or indeed no charities at all.
