In this article, Laura Richardson discusses the importance of making a charitable donation, not only at Christmas in Chelmsford and throughout Essex, but also during the rest of any given year along with how to go about doing this . . .

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This festive time of year is traditionally a time of giving, not only to our friends, family and loved ones, but also to those in need each Christmas in Chelmsford and throughout Essex. Many charities across Essex arrange Christmas themed events such as sponsored Santa fun-runs, or shoe box collections in which a shoe box is filled with gifts or items of use to a particular charitable cause. Collection boxes are also a popular method of collecting cash donations at this time of year, with Supermarkets, shops and schools often choosing a particular cause to support during the festive period. Others choose to perform a task to encourage donations, such as busking, bag packing in supermarkets or carol singing.

However, it is not just at this time of year that charities need support. Charities rely heavily on legacy donations, which are donations bequeathed within a Will. Anyone can leave a donation to a charitable organisation through a valid Will. Your chosen charity can be included within your Will when it is first written, or alternatively if you have already made a Will, this can be simply amended to reflect your wish to donate to a chosen charity. There are three ways in which you are able to donate to a charity within your Will. Firstly, you can donate a fixed cash amount. Secondly, you can donate a named item such as jewellery, furniture, or property. Finally, you can donate the remainder of your estate once all other gifts have been distributed, which is known as the ‘residue’ of your estate. It is a good idea to list the full name of your chosen charity within your Will, along with their main address and Registered Charity Number to avoid any confusion.

Charitable legacies have the added benefit of being exempt from Inheritance Tax, which means that your chosen charity will receive 100% of your gift regardless of the amount of Inheritance Tax that may be due on the rest of your Estate. Alongside the obvious benefit of providing much needed funds for your chosen charity, your Estate will also benefit from paying a reduced rate of Inheritance Tax if you donate more than 10% of your Estate to a charitable cause this Christmas in Chelmsford.

If you would like any further information regarding donating to charity as a gift donation through your Will, contact us over at Andrew Douglas Wills and Legal Services via www.andredouglaswills.co.uk today to arrange a free initial consultation to discuss your needs in Chelmsford and throughout the surrounding areas of Essex. ————————————————————————————————————————————————————

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