A legal expert is advising people who are planning for the future to consider leaving money to charity.
Research from the Behavioural Insights Team, part-owned by the UK Government and the innovation charity, Nesta, and from the University of Bristol, showed that many people weren’t aware they could use their Will to provide for loved ones and support a charity too.
Many charities rely on gifts made in Wills to help them keep operating, and solicitors can play an important part in this process. According to the figures, around 70 per cent of people indicated they would be happy for their solicitor to raise the issue of supporting a charity in their Wills.
Georgina Smith, solicitor in the Wills & Estate Planning team at regional law firm Napthens, reports it is easy to do and an option many clients take up.
She said: “We work with a number of charities and appreciate that for many people supporting a good cause is close to their heart.
“When taking the decision to make a gift to a charity in a Will, it’s important to fully understand all the options available and any possible issued that may need to be considered.
“Charitable giving can be a useful tool when considering inheritance tax planning, and can actually cut the rate if at least 10 per cent of an estate is left to a good cause.
“Anyone thinking of taking this step should contact their legal advisor for more information.”