Why Will One’s Money To A Charity?
Many people give to Charities during their lifetime, but the extent of their generosity is limited by their means, and other spending priorities. On the basis of the truism that; "We are all worth more dead than alive." A Will offers the opportunity to be more generous.
It is also an appropriate time to show a final appreciation for any help and support that you, or a loved-one, may have received from us. It was there to help through the generosity of others; it will be available to those who follow through your benevolence.
When choosing our Charity to benefit in your Will, it is important to ensure that you properly identify our Charity as the one that you have chosen. Otherwise your gift could bring about rancour, argument or even legal proceedings.
This is best done by quoting our Charity Registration number 232409 allocated to our organisation by the Charities Commission.
"I GIVE AND BEQUEATH (state what………) to the Trustees for the time being of the World Healing Crusade, of 476, Lytham Road, Blackpool, in the County of Lancashire, United Kingdom (being a Charity registered under the Charities Act, No. 232409) to be applied for the general purposes of the Crusade AND I DECLARE that the receipt of the Treasurer when this legacy is paid, or the then proper officer for the Crusade, shall be a complete discharge to my Trustee(s) for the legacy to the Crusade."
Where an estate is liable to Inheritance tax,* there is an additional benefit in that charitable bequests are tax exempt.
For example an estate of £325,000, with the Inheritance Tax "Nil Rate Band" of £300,000 (2007/2008) left conventionally would pay Inheritance Tax of £10,000. The beneficiaries receiving the £315,000 balance.
If £300,000 were left to family etc and £25,000 given to Charities, the tax bill would be "nil".
The Family would lose £15,000, the tax man would lose £10,000 and the Charities would benefit by the full £25,000, I believe many of you would find the Charity of your choice preferable to the "Compulsory Charity" - the Exchequer!
* The figures quoted are as of February 2008, these may change in future budgets.