Have you ever thought about leaving a gift to charity?
Include A Charity week 6 – 12 September 2015
Everyone has things they care about; a charity involving children, the elderly, animals, the environment, community services, health charities, and many more. Perhaps you or your loved ones were supported by an amazing organisation, but you were unable to give back as generously as you would have liked in your lifetime. A bequest in your will is a great way to ensure their vital work carries on to support another person in times of need.
Bequests are acknowledged to be one of the easiest and most satisfying ways a person can give to causes and charities. Yet only 8 percent of all giving (by value) in New Zealand happens this way. In the UK for example, its 12 percent and rising. Include A Charity’s aim is to increase bequesting in New Zealand from $150m to $300m within six years. Research shows that with more charities raising expectations and awareness, when people are prompted by either their charity or lawyer, and given assistance, there is a sharp increase in making a bequest.
Anyone can leave a gift to charity
It's a common myth that only the rich and famous leave money to charity when they die. This couldn't be further from the truth. The reality is that without gifts left behind in wills by people like you, many of the charities we know and support wouldn't even exist. Whoever you are, whatever your situation, you can help make a difference and help create a better world by including a charity in your will.
Talk to Trustees Executors about including a charity in your will
Trustee Executors support the good work of Include A Charity. We promote bequesting with our clients when the opportunity arises, and acknowledge that making a will is one of the most important decisions you'll make. It's the only way for you to say how your assets should be used after your death and means less confusion and heartache for your loved ones in their time of grief. If you don't have a will or it's not updated, people you don't want to benefit may receive some or all of your assets.
We can help you fulfil something very special and rewarding by making or updating your will to include your favourite charity. It's not about excluding your family- loved ones come first- but there's room to consider both. And by including a charity you'll be helping to build a more supportive community for your own children and grandchildren, something they'll appreciate if they ever find themselves in need.
Different types of bequests
Gifts can be anything you own including specific items, money, property, or a percentage of an estate. There are four main types of gifts you can choose to leave to charity:
- Residual – The remainder of an estate after considering loved ones.
- Percentage or fractional – A gift expressed as a percentage or fraction of an estate.
- Pecuniary or specific – A specified gift which can be money, property or stocks and shares etc.
- Whole estate – This comprises an entire estate and is usually left by those without beneficiaries or those wanting to achieve something very significant.
Talk to a specialist about the type of gift that will best suit you, and don't forget to provide the name of the charity and the registered charity number when leaving a gift in your will.
By Gary McFadyen, Trustee Executors
newz viewz, June 2015