As we approach the four-week mark since the lockdown began, people’s day to day lives are changing and we are adapting as necessary.
Things certainly are different and this can even be seen in the most recent television adverts which are reflecting the current situation surrounding the coronavirus pandemic.
There’s a government / NHS advert on COVID-19 as well as adverts from charities encouraging people to leave gifts in their Wills to them.
Donating part or all your estate to charity is a fantastic thing to do and is indeed one of the many benefits of writing a Will. You are not limited to only selecting one charity and could distribute your estate between several different ones.
At present around 15% of income generated by charities comes from legacies left in Wills.
Note that donations to charity are generally exempt of Inheritance Tax (IHT) subject to the charity having a valid Charity Reference Number from HMRC. Further information can be found on https://www.gov.uk/find-charity-information which will take you directly to the charity commission.
More information on how Inheritance Tax works will be addressed by us in a future article.
There are many charities which do sterling work in the local and wider community and the choice really is yours.
If you would like to leave a donation to a charity or organisation in your Will, please contact Penrose Wills and we would be delighted to assist.
Jamie Howell – Director
16th April 2020