In today’s difficult funding climate the financial help charities receive from bequests in Wills is even more important.
There are 2 ways to leave a bequest:
- A specific amount given (eg £10,000) is known as a pecuniary legacy and can be of any amount
- A residuary gift is a share of the estate
As all gifts to charity are free of Inheritance Tax a gift to charity can help reduce the burden of tax in respect of your estate.
It is very important though that the name of the charity is correct to ensure that your gift goes where you intend. Likewise, if you want the gift to be for the benefit of a local branch of the charity that should be mentioned as well in the Will.
At Keeble Hawson we are proud to work with Weston Park Hospital Cancer Charity, one of only 3 dedicated cancer hospitals in the UK. Speak to us today about how making or altering your Will can help Weston Park.