When it comes to completing your estate planning, you want to consider including the leaving of Charitable Gifts in Coggeshall and throughout Essex in the terms of your Will. Therefore, Laura Richardson explains more about leaving Charitable Gifts in Coggeshall as a reflection of your wishes . . .

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Many people choose to include a gift to a charity within their Will. People often choose a charity that has had a positive impact on their life, or has supported a loved one.  Another reason that some people leave a legacy to a charity is that it can be beneficial to your Estate as well as to your chosen charity. If you leave at least 10% of your Estate to a charity, then the rate of Inheritance Tax that you pay on the remainder of your Estate falls from 40% to 36%.

Whatever the reason that you wish to include a charity in your Will, it is interesting to note that alongside the more “famous” charities such as Cancer Research, Oxfam, RSPCA, Save the Children, and British Heart Foundation to name but a few, there are a vast number of charities that may not spring to mind. These lesser known charities are supporting causes locally, across Essex or even across the UK. Many of us will have been supported by or benefitted from a charity and perhaps not realised that the organisation was a charity! Here are a few examples:

Scout Association

Each branch of Scouting and Guiding are registered with their own Charity Number.

Pre-School

Many Pre-Schools are run as charities in order to keep their rates affordable and accessible to all.

Pet Rescue Centres

Your local Pet Rescue Centre will usually be run as a charity.

Community Centres and Village Halls

Many Community Centres and Village Halls are run as charities in order to provide an affordable meeting place for local groups, clubs and societies which in turn supports the local community.

Local Trusts

Some companies will have a Trust Fund which they use to benefit the local community. Similarly there may be Trust Funds set up by an individual or group of individuals to support local causes, or causes that benefit a certain group of people for example those with a particular medical need.

A charity is defined under strict terms within the Charities Act 2011. Each UK charity that meets the criteria is given a Registered Charity Number.  In order for your Estate to benefit from a reduced rate of Inheritance Tax, you must ensure that your chosen causes for Charitable Gifts in Coggeshall have an officially Registered Charity Number. There is a comprehensive list of UK charities and their relevant information accessible via https://www.gov.uk/find-charity-information.

Therefore, if you would like any further information with regard to the arrangement of Charitable Gifts in Coggeshall, or anywhere else throughout Essex, in your Will then please feel free to contact Andrew Douglas Wills and Legal Services today via www.andrewdouglaswills.co.uk to find out more.

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