If a charity has made an impact on your life or the life of someone close to you, you may be looking for a special way to say thank you and to recognise the good work the charity has done. A common question from our clients is “can I leave a gift to charity in my Will?”. The answer is certainly yes.
It may be that a particular charity or hospital has provided you with support through an illness or a tough time in your life, or perhaps you adopted a lifelong furry friend through an organisation and want to give back to that organisation. Whatever the reason, leaving a gift to a charity is a really lovely way of giving to a cause that is close to your heart.
There are several ways to leave a gift to a charity or organisation in your Will:
- You can “bequeath” a fixed sum of money;
- You can select a percentage of your estate to be gifted to a charity, after gifts to your loved ones;
- You can leave real estate to a charity; or
- You can gift the whole of your estate to a charity, or several charities. This is often quite common where a person does not have any family members or other preferred beneficiaries and wants to make a difference with their gift.
It is also important to consider the impact of your Will on your family and other significant people in your life. If you consider how your family would feel if you left them with nothing, you may be unintentionally leading your loved ones down the long and costly road of challenging your Will. We have had clients who have not left a charity anything, and their family have contributed part of their own inheritance to make a sizeable donation to a charity, in a deceased’s person’s name. Your ability to give will depend entirely on your own circumstances.
We are not always able to give as generously during our lives as we might have liked. By leaving a gift to a charity, you can support the work you have always wanted to help but might not have been able to, or further assist a charity you have supported during your lifetime. Your gift, no matter how large or how small will always be gratefully received by the charity or charities you have chosen.
Talk to us today to discuss adding a gift to a charity in your Will.