Big thanks to The Gazette (the UK’s official public record) for sharing 10 Reasons Why You Shouldn’t Delay Making A Will last week.
Our Will writing experts have summarised their reasons and added 10 more on why making a Charity Will online is the way to go …
Last week The Gazette shared these 10 reasons to stop delaying making a Will
1. Your estate will be dealt with the way you wish.
2. You can choose your executors (who will be responsible for dealing with the administration of your estate).
3. There are tax planning advantages (you can maximise your chances of inheritance tax relief).
4. Your intentions will be well documented (protecting your loved ones from successful challenges to your Will).
5. You can set out your burial or cremation wishes (always a good idea to have a funeral plan too though).
6. You can ensure provisions are made for dependants and minors (including putting in place restrictions on the age at which a minor inherits).
7. Writing a Will is necessary if you want to set up a Trust (which can be beneficial for tax planning reasons).
8. To address worldwide assets (if you have assets outside of England and Wales, different laws govern inheritance).
9. To clarify who owns what (especially important if you are in a business partnership).
10. To make gifts of sentimental items, as well as cash.
All fair points.
We’d go further by stating there is no reason to delay making a Will, as our easy to use online Will template enables you to do so within just 10 minutes.
And – if you choose to make a Charity Will, in which you leave a legacy to one of our Campaign for Charitable Legacies' registered partners ((https://activewills.com/charity/want-to-leave-legacy-to-a-charity)), you can even do so for free.
Here are 10 reasons to make a Free Will, leaving a legacy to a charity of your choice, via our Campaign for Charitable Legacies:
1. Writing a Charity Will shows generosity – this is your opportunity to make your final act of kindness to support a cause you believe in, enabling it to continue its valuable work. The gift of giving brings positive feelings too.
2. Writing a Charity Will shows integrity - research shows that whilst 35% of people want to leave a legacy to a charity in their Will – only 6.3% of the Wills written in England and Wales in 2016/17 included a charity legacy. Be remembered for doing the right thing and not for just talking about doing the right thing.
3. Writing a Charity Will shows gratitude – perhaps you or a family member have benefited from the work of a charity – what better way is there to show gratitude than by giving back?
4. Writing a Charity Will enables you to live your values – perhaps there is a charity that shares your core values, that works hard to create the sort of future you’d like future generations to inherit – or to prevent a future your fear? Supporting that charity may ensure your values live on.
5. Writing a Charity Will may contribute to defeating an illness you feel passionate about fighting.
6. Writing a Charity Will enables you to show respect. Donating to a charity in memory of a loved one that the charity has helped may bring you some peace of mind.
7. Writing a Charity Will may help save a life. The money you leave could make the difference between life and death for someone else.
8. Writing a Charity Will is a charitable thing to do. Many charities used to get more governmental funding and have to, increasingly, rely on volunteers and donations. Legacies alone are ensuring the continuing existence of many charities. You can help.
9. Writing a Charity Will is a financially astute thing to do. Any money that you leave to a charity in your Will is exempt from Inheritance Tax (click here for more details). It makes financial (as well as emotional) sense to leave a charity legacy.
10. Quite simply, writing a Charity Will is the right thing. If you've read this far you know that. So, please help us achieve our 100,000 Charity Wills goal and write your Charity Will now ...
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