When it comes to deciding who to leave our estate to after we die, there are a number of options available to us. The best way to ensure that our money goes exactly where we want it to is by writing a will. Wills are not just for deciding which family members will inherit the family silver. You can leave part or all of your worldly goods to a charity or other good cause that is close to your heart. All you need to do is instruct your solicitor to make sure that your chosen charities are mentioned in your will, alongside your wishes for how much they will receive, and, if you desire, what you would like them to do with your money or property once it passes into their ownership. As well as leaving a specific sum to charity, it is also possible to leave a percentage of your estate to charity. Don’t forget that any money left to charity is not liable for inheritance tax in England and Wales, and, if a person leaves 10% or more of their estate to charity, the inheritance tax rate falls from 40% to 36%.
Choose a Will Aid 2024 solicitor
Shortlands Solicitors is proud to have signed up to take part in Will Aid 2024. This is a successful partnership established between the legal profession and the UK charity sector. Legal firms like Shortlands Solicitors register to offer will-writing services to clients for free throughout the month of November, waiving their fee in return for a donation, which is shared between the seven Will Aid charities. Suggested Will Aid donations are £100 for a single basic will or £180 for basic mirror wills. The seven Will Aid charities are Age UK, the British Red Cross, Christian Aid, the NSPCC, Save the Children, the SCIAF and Trocaire.
How to write your will with Will Aid 2024
Anyone who would like to have their will written as part of Will Aid 2024 should visit the website at willaid.org.uk and choose from the participating solicitors to arrange an appointment. The website also has a helpful will-writing guide, which includes such advice as making a list of who you would like to receive your estate and possessions after you die, as well as thinking about which charities you might like to include. You will then meet your chosen solicitor who will write your basic will in return for a charity donation. Once the will is written, you will have a chance to approve it, make any amendments and then receive the final copy to be signed and witnessed, or, alternatively, as is the case with Shortlands, the firm will supervise the signing and witnessing.
Make sure you store your signed will safely, or ask your solicitor to do so on your behalf. Shortlands offers free will storage to its Will Aid clients. It is also possible to store your will at your home, with the Probate Registry or with a professional provider of will-storage services. It is important to note that, if a will is lost in your possession, such as when kept at your home, then the registry will presume you destroyed the will in order to revoke it. It is always sensible to tell your family about your will and where they will be able to find it after your death. Whilst there is no legal requirement to register your will, this can be a sensible thing to do as it allows family members to check whether you had a will and where it is located. If you need further legal services, such as more complex wills, trust arrangements or inheritance tax planning, you can discuss this with your solicitor and make arrangements on a separate basis.
Don’t just leave money
Although charities and good causes will be glad to receive cash legacies in a will, this isn’t the only way in which you can help your favourite good causes after you die. Your will can also name specific assets, property, stocks, shares and even copyrights to be left to a charity or worthy organisation. You can request valuables, such as jewellery or vintage cars be sold at auction and for the money to be given to charity.
Or, if you are leaving something that you consider might have social value and interest to the wider public, such as paintings, antiques and books, arrangements can be made for these to pass to a charity, museum or custodian who will care for the items and put them on display for public view. It would be wise in cases such as this to discuss your proposed gift and how it might be cared for with your intended beneficiary before you finalise your will.