Leaving a legacy to charity in a will allows you to support the good causes you care about. Here’s our step-by-step guide on how to include a charitable gift in your will:
Firstly, you need to select the charity or charities you wish to benefit. It is always a good idea to check that the organisation does have charitable status and is operational.
Having made your choices you then need to decide on the type of gift you wish leave. You can leave a monetary legacy or gift a specific asset. Alterntaively you can leave the charity a percentage of the value of your estate, or make it the residuary beneficiary (where the charity receives the remainder of your estate after all other bequests and liabilities have been paid).
Most people leaving a legacy to charity in a will appoint a solicitor to undertake the drafting and to ensure that your intentions are clearly and unambiguously expressed. The solicitor will also usually oversee the signing of the will to ensure that it is validly executed.
It is generally advisable to inform the charity that you have included them in your will. This allows them to recognise your legacy and prepare for future donations.
Once you have made your will it is important to review it periodically and to make sure it remains up to date. If your financial or family situation changes then the will might need to be updated. It is also important to check that your chosen charities are still operating and have neither changed their name, nor amalgamated with another charity.
If you do not wish to make a completely new will then you can add a charitable gift using codicil.
It is important to bear in mind that wills in favour of a charity can be legally challenged. The validity of a will can be contested on several grounds, such as lack of capacity. Dependants can also bring a claim for financial provision under the Inheritance (Provision for Family and Dependants) Act 1975, The risk of a legal challenge can be significantly reduced by ensuring that the will is prepared by a solicitor, but even professionally drawn wills are susceptible.
If a dispute does arise then we offer a free consultation service to charities, and will carry out a bespoke risk assessment of any legacy dispute, completely free of charge
