Charities in crisis 2013 – how even a small a legacy in your Will can help

As Christmas approaches, it is worrying to read about the crisis that is engulfing our charities in the UK at the moment.

During this period of giving, there is never a better time to reflect on what more can be done to stem the tide.

According to the Guardian, one in six UK charities fear they may have to close their doors in 2013, unless more can be done.

And this at a time when Government austerity means that more and more people are likely to be looking to the charity sector for help too.One of the ways you can really make a difference is by making sure you leave a charitable legacy in your will.

But hold on, you’re thinking, how will that help my charity in 2013 if I’m still planning on being here at the end of next year?

Well, the answer is that by leaving a legacy to charity in 2013, you can notify the charity and they will be able to factor that in to their long-term financial planning.

Making a provision in your will for charity is very easy. You don’t have to be super-rich and famous and you can even do it if you already have an existing Will in place.

There are three different ways to donate to charity; all you need to do is decide how to you want to do it.

The first way is called a Pecuniary Donation. This simply means that you leave a fixed sum of money behind, and remember; it doesn’t have to be a large sum to justify doing it. Any amount will really help them plan for the future.

A Residuary Donation means that you leave a % of your overall estate, which is also very popular.

Many people we work with like to leave around 10% to a charity of their choice, which is always a very nice thing to be able to do.Finally you can leave a Specific Donation, which can be anything from a piece of jewellery or a painting to a property.

If you already one in place you can add a legacy to your existing Will through a Codicil. This lets you make a change to the Will without having to create a whole new one from scratch.Finally – although this is not really what this post is about, you should keep in mind that there may be significant tax benefits from a legacy gift in your Will.

This is because the Government allow that all gifts to charities are Inheritance Tax exempt.

So remember, some charities fund up to third of their services through the income they receive from gifts left in Wills. If you are thinking of making your Will this Christmas, what better time could there be to make sure that you leave some of your wealth behind to help our charities through what promises to be a difficult time ahead.

As Christmas approaches, it is worrying to read about the crisis that is engulfing our charities in the UK at the moment. During this period of giving, there is never a better time to reflect on what more can be done to stem the tide.

According to the Guardian, one in six UK charities fear they may have to close their doors in 2013, unless more can be done. And this at a time when Government austerity means that more and more people are likely to be looking to the charity sector for help too.

One of the ways you can really make a difference is by making sure you leave a charitable legacy in your will. But hold on, you’re thinking, how will that help my charity in 2013 if I’m still planning on being here at the end of next year?

Well, the answer is that by leaving a legacy to charity in 2013, you can notify the charity and they will be able to factor that in to their long-term financial planning.

Making a provision in your will for charity is very easy. You don’t have to be super-rich and famous and you can even do it if you already have an existing Will in place.

There are three different ways to donate to charity; all you need to do is decide how to you want to do it.

The first way is called a Pecuniary Donation. This simply means that you leave a fixed sum of money behind, and remember; it doesn’t have to be a large sum to justify doing it. Any amount will really help them plan for the future.

A Residuary Donation means that you leave a % of your overall estate, which is also very popular. Many people we work with like to leave around 10% to a charity of their choice, which is always a very nice thing to be able to do.

Finally you can leave a Specific Donation, which can be anything from a piece of jewellery or a painting to a property.If you already one in place you can add a legacy to your existing Will through a Codicil.

This lets you make a change to the Will without having to create a whole new one from scratch.

Finally – although this is not really what this post is about, you should keep in mind that there may be significant tax benefits from a legacy gift in your Will. This is because the Government allow that all gifts to charities are Inheritance Tax exempt.

So remember, some charities fund up to third of their services through the income they receive from gifts left in Wills. If you are thinking of making your Will this Christmas, what better time could there be to make sure that you leave some of your wealth behind to help our charities through what promises to be a difficult time ahead.