Many people choose to support a charitable cause by making a gift to a favourite charity in their will. Most charities do not receive any government or lottery funding and can only keep going with the help of these legacy gifts.
Bequeathed works with a number of charities. You will see their names as options for you, but you are under no obligation to pick one of them; there is the option to choose any other charity instead or as well.
A gift to charity in your will could save a life, help children, young people or those with terminal illnesses or enable a disabled person to retain their independence. Or it could help a charity to undertake long-term research or to embark on a new project. No matter how much you decide to give, it is guaranteed to play a significant role in the work that the charity does.
What's more, any gift you make in your will to a UK charity (or charities in the EU, Norway, Iceland and Liechtenstein) will be exempt from inheritance tax.
The interview allows you to make a gift to one or more charities. This can be a cash gift or a percentage of your estate, or both. You'll be asked about cash gifts first.
You can choose for a cash gift to be index-linked or not. Index-linked means that the gift will change between when your will is written and when you die by the same amount as the general level of prices.
If you leave 10% or more of your net estate (i.e. your total assets less liabilities) to charity, you could benefit from a reduction in the rate of inheritance tax from 40% to 36% on the rest of your estate. It is possible to leave a percentage of your estate to one or more charities, in equal or unequal shares.
If you wish to benefit from the reduced inheritance tax rate, you will need to answer the following questions:
This information is required to ensure the correct amount of your net estate passes to charity to benefit from the reduced inheritance tax rate.
For more information, see our page Donate to a charity in your will to make use of charity tax exemptions.