Wills and Charitable Legacies

Wills and Charitable Legacies

The fact that Neves is 150 years old this year led us to wonder what events were going on in the country in 1867, and so we took to a very popular internet search engine to find out!

Most of the events which popped up were political, so it may be considered a little impolite to discuss them in our blog, but there was one notable event involving the famous Thomas Barnardo which caught our eye.

It turns out that in the year Neves first opened, Thomas Barnardo opened his first school for poor children.  Shortly after the opening of his first school, prompted by the many Victorian children he saw sleeping on rooftops and in gutters, Barnardo opened his first children’s home.  150 years on, the charity he founded is still changing the lives of children.

Being privy to Wills each day, we see just how many legacies are left to charity and the impact charities have on the lives of people.  Whether those making the Will have been involved with the charity in some way, or whether it is a cause which they personally know little about but would like to support,  many charities could not continue to do the outstanding work they do without the gifts they receive in Wills.

A recent study showed that around 35% of people would like to leave a charitable legacy in their Will, but in reality only around 6% of people actually do so.  Often people are not aware of the options available to them with gifting, and if a gift is something which our clients are considering, we will always talk these options through.  

It is worth mentioning that a gift to charity is usually free of inheritance tax, and your overall inheritance tax bill can also be reduced by making charitable gifts in your Will. 

Regardless of whether you would like to leave a charitable legacy in your Will, our Private Client department would be happy to receive your Will making enquiries and can be reached on info@nevesllp.co.uk.