Reduce your Inheritance Tax by leaving a gift to Charity

If you think that your estate will be liable to Inheritance Tax you could make a Will leaving money to a charity to reduce the overall amount of tax due from your estate. You can make a Will leaving a fixed sum, known as a 'Pecuniary Legacy' or you can make a Will leaving part or all of your estate, once other gifts have been distributed, known as a 'Residuary Legacy' to a charity or charities of your choice.

To do this you would simply state in the section for beneficiaries what you want to do. Often people with pets who decide to make a Will like to specify a gift of money to their favorite pet charity. Alternatively you can simply write a declaration to the executors giving instructions as to how, and to which charity, your legacy is to be distributed. Gifts made to a UK charity in the seven years prior to your death are also covered by the same exemption from Inheritance Tax.

Key Areas of Interest...

For information regarding advertising and/or sponsorship of this website please contact Mark at info@howtowriteawill.org.

Follow the 'how to make a will' blog and find out more about making a Will. Read new articles published everyday.