Leaving money to charity in Wills ‘is simple’

Posted 17/11/2011

Leaving money to charity in Wills has been described as a simple process.According to Paul Sharpe, the chairman of the Institute of Professional Willwriters, charitable organisations spend a lot of time and effort attempting to persuade people to include them in the financial document.But he explained the number of people who decide to leave some funds to charity in their Will remains at a “disappointing” level, despite the fact the subject is often broached by the writer of the financial document during its creation.According to HM Revenue and Customs, leaving money to charity as part of a Will can help people reduce the amount of money they lose to inheritance tax after their passing.Mr Sharpe also tried to explain why some people have not made a Will yet, noting many individuals believe their assets will automatically be passed on to their loved ones.He said: “The message that making a Will can ease the process is one that is often overlooked by those who decide that making a Will is not for them.”