Charitable legacies - the benefits of leaving a gift in your will

At Willans, we recognise that there is a wide range of local and national charities that our clients support throughout their lifetimes, whether this is through regular donations or volunteering. Leaving a gift in your will is a way to continue this support when you’re no longer around.

Currently, legacies pass free of inheritance tax, which means the full legacy amount passes to that chosen charity and maximises the impact of your support. As a result, leaving a gift in your will to a registered UK charity is often greatly appreciated. In fact, as government funding in this respect is often unavailable or extremely limited, many charities rely heavily on donations and legacy payments under individuals’ wills as their main source of income.

When it comes to tax planning for your own estate, leaving a charitable legacy under your will can also offer many benefits. It reduces the value of your estate chargeable to inheritance tax, and (if the necessary criteria are met) can also reduce the rate of any inheritance tax payable on assets passing to non-exempt beneficiaries (such as friends and families) from 40% to 36%.

Find out more about charitable legacies in our video, made in collaboration with our 2024-26 charity partner, Cheltenham Open Door:

Many individuals choose to nominate a specific purpose for the legacy, or a wish of how the monies should be used. Although stipulating a use for the legacy is possible, care should be taken when drafting such a condition. It is important to ensure that this is not too restrictive on the charity, but that the funds will still be used in accordance with your wishes.

Our wills, trusts and probate team have vast experience in drafting charitable legacies. We work closely with many local and national charities regarding the wording of legacies, ensuring that your legacy supports the work of that charity in the areas you most wish to benefit.

If you haven’t yet made a will or would like to review your will with our specialist team, or simply wish to discuss the effect of including charitable legacies within your will, please contact a member of our specialist wills, trusts & probate team.

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