Our Wills, Probate, Tax and Trusts Legal Hour is hosted by Sarah Browne, Principal Associate in our Wills, Probate, Tax and Trusts department.
If you require further help regarding Wills, probate, tax and trusts, please phone us on 01279 755777 or contact Sarah Browne directly.
Our Wills, Probate, Tax and Trusts Team will be hosting the Nockolds Legal Hour on the following dates:
|Wednesday 24th October 2018 ||12pm - 1pm |
|Wednesday 5th December 2018 ||12pm - 1pm |
|Wednesday 30th January 2019 ||12pm - 1pm |
|Wednesday 13th March 2019 ||12pm - 1pm |
|Wednesday 24th April 2019 ||12pm - 1pm |
|Wednesday 5th June 2019 ||12pm - 1pm |
Our Latest Legal Hour Questions (12/09/18) Read your previously answered questions here
My current Will leaves a number of gifts to charity. I understand that this means that I will pay less inheritance tax. Can you please explain?
If your estate is subject to inheritance tax, then any gifts to charity would be tax free. The value of the gift would be deducted from the estate before working out the tax owed. In addition to this, if you give 10% or more of your estate to charity then the tax rate on the remainder would be reduced from 40% to 36% of the value over the threshold. There is a particular formula which is recommended to be put in to your Wills to ensure that this applies and so if you would like to review your Will in light of this please do let us know.