PROMOTION Why give to charity in your Will? They say that charity begins at home but perhaps it could also be said that it ends with a Will. egacies to charities are an essential part of their income their non charity beneficiaries such as children. For most people the main reason for leaving a gift to charity in their Will is to benefit a good cause close to their heart. There are different ways in which a Will can benefit charities including cash legacies property or shares of the residuary estate (which is what is left over after payment ofall debts, legacies, tax and administration expenses). For larger bequests there is the possibility of creating a charitable trust in a Will with defined objectives to benefit good causes long after death. An added bonus is that charitable gifts are completelyinheritanoe tax (IHT) efficient as such gifts are 100% exempt from the tax. Not only that, but if a ill has a mix of gifts to charities and non charities (ie, relatives) then if 10% or more of the estate passes to charity then the IHT rate applicable to the rest of the estate drops to 36% from 40%. You could even have a perfectly IHT-free Will by leaving your IHT exempt amount (currently E325,000 for one person) to children and then leave the residuary estate to charity. That way you benefit the charities you hold dear and make provision for loved ones. These IHT benefits are designed to encourage people to make charitable gifts in their Wills. There are tax benefits of charity gifting for Capital Gains Tax as well and a full appraisal of your personal circumstances is required to see what best suits you in the most tax-efficient way. The same IHT benefits van also be obtained when making lifetime gifts as well as those by Will For more information on charitable gifting in Wills please contact: Susan Glenholme, Managing Partner Debenhams Ottaway T: 01727 735636 E: sg@debenhamsottaway.co.uk W: debenhamsottaway.co.uk DEBENHAMS OTTAWAY SOLICITORS Your aspirations are our inspiration