Can I leave my whole Estate to Charity UK? Gifts to Charities in our Wills can be challenged in a number of ways. The law allows us to leave our whole estate (also called our Residuary Estate) to whomever we please. And, if you want charities to benefit from your [...]
Leaving a Cash Legacy to Charity Leaving a legacy to charity in your Will is a great way of making a difference. Charities rely heavily on gifts made to them in Wills. By way of example, the incredible work undertaken by Cancer Research UK was funded in 2021 (figures published [...]
What is Inheritance Tax (IHT)? Inheritance Tax is payable against the value of our estate when we die. Inheritance Tax (IHT) is the tax payable by our executors on the assets that comprise our estate. The threshold for IHT changes from time to time. The current threshold for IHT is [...]
What is Residuary Estate? Residuary Estate is the balance of an estate after tax, liabilities and any specific personal items or cash gifts (legacies) have been paid. The residue of your estate is essentially ‘everything else’ – ie after all specific cash gifts and personal items have been dealt with. [...]
What is a Cash Legacy? A cash legacy is a fixed "money" gift that you leave in your will. A cash legacy is a fixed cash sum that you can include in your will. It is a specified amount (rather than a percentage of the overall estate which is called [...]
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