From today, Hay Tarn is an official supporter of ‘Remember a Charity’, which is an organisation promoting charitable legacies and strives to make charitable gifts in Wills the norm.
Many people support charities by donating to street collections and making regular payments from their salary. Most of us support friends and family by sponsoring them in an event or challenge. However, relatively few people support a charity through their Will.
Of course, leaving a legacy to a charity is the choice of the client, and at no time do they come under pressure from a Willwriter, but they are made aware they do have a choice. Even a small amount of £100 can help a child survive famine or provide medical aid to those in desperate need.
Leaving a legacy in your Will is easy, but it is important to record the correct name and ensure the charity is registered charity. Your Willwriter makes sure that gifts are still valid if charities have merged or disbanded.
Sometimes charitable gifts attract inheritance tax if the residue estate is left partly to ‘exempt’ charities and partly to ‘non-exempt’ individuals. In this case, the Willwriter takes special care to provide the correct wording to ensure the gift to the charity is exempt from tax.
Cash gifts are always welcome, but care is required to ensure the total value of the estate can support the individual value of the gift. It is often more appropriate to gift the charity from a share of the residue estate. Many people also like to gift specific items of value. For example, paintings and watches, but sometimes the client inadvertently disposes the gift during their lifetime.
Giving to charity is rewarding in so many ways. Hay Tarn is pleased to be able to help clients and ultimately charities to continue with their important work.
Please check the website at www.rememberacharity.org.uk