Whilst many Christmas presents will be forgotten as soon as they have been unwrapped, there is a festive gift that can make a big difference – leaving a legacy to a charity.
Three quarters of Britons regularly give to charity in their lifetimes, but only 6% include a charity when writing a Will.
Without this source of income many charities would have to cut important services and some could not exist.
Lucy Watson, who heads the Wills and Probate team at Phillips Solicitors, said: “Charities rely on both regular donations and legacies in Wills to be able to continue their good work. Leaving money to charity in your Will can make a huge difference and what a wonderful way to ensure that your legacy lives on after you’ve gone.”
“It is especially important to think of charities at the moment when so many of their normal fundraising avenues have been cancelled with the coronavirus pandemic.”
Donations can be as small or as large as you wish, as every gift makes a difference. A gift made to a UK registered charity is also inheritance tax free.
“If your estate is large enough to be chargeable to inheritance tax, gifts to charity will reduce not just the overall amount of tax paid by the rest of your estate but may also reduce the rate of tax, resulting in your family getting the most of their inheritance,” explained Lucy.
“If you are looking to leave money to a charity you may well consider Sebastian’s Action Trust, which is Phillips’ charity of the year.”
Sebastian’s Action Trust provides emotional, social and practical care together with outreach and specialist support to families in Hampshire, Berkshire, Buckinghamshire, Oxfordshire and Surrey.
It also offers respite holidays to families from all over the UK at The Bluebells – the Trust’s unique facility in North Waltham, just outside of Basingstoke.
For help in leaving a charitable legacy, or for any other Wills and Probate issues, please contact Lucy by emailing email@example.com or by calling 01256 854646.
For more information about the wide range of legal services offered by Phillips, please visit www.phillips-law.co.uk