Charities are needing help. But is this a short term problem? I'm sure most (all) decent people leave some of their estate to a charity and so with the current death toll of nearly three times the norm they should be benefiting in the not to distant future.
But just so that everyone is clear. If you leave 10% of your estate to charity the tax you pay is reduced from 40% to 36%.
The real effect is that if you do this those who inherit from you receive very little less. You just pay less tax.
A lot of charities will write your will for free if they are the beneficiaries. It does not cost them anything as the solicitors drawing up the will are doing it for free.
Win Win
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By (user no longer on site)
over a year ago
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Its reckoned more than half of Uk adults don’t have a will.
Also for a vast number of people their estates get nowhere near inheritance tax values so the tax benefits aren’t a factor.
A lot of people are also put off by the way charities deal with families when they are left a bequest. I’ll make sure my family know the charities I support and trust them to do the right thing, but having seen how a major charity hassled and harassed the family of someone who used the same cancer hospice as a loved one I’ll never leave a specific bequest. They can be utterly ruthless. |
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"Charities are needing help. But is this a short term problem? I'm sure most (all) decent people leave some of their estate to a charity and so with the current death toll of nearly three times the norm they should be benefiting in the not to distant future.
But just so that everyone is clear. If you leave 10% of your estate to charity the tax you pay is reduced from 40% to 36%.
The real effect is that if you do this those who inherit from you receive very little less. You just pay less tax.
A lot of charities will write your will for free if they are the beneficiaries. It does not cost them anything as the solicitors drawing up the will are doing it for free.
Win Win
"
YOu missed out th ebit where you explain that in 2016-17 only 4.6% of estates pay inheritance tax. For 2020-21 the general threshold is £325k with a separate £175k threshold for the main residence.
Despite all the headlines, inheritance tax is a very rare problem. |
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