Leaving a legacy is one way to create an impact when you pass away. This may have been something you have been thinking about doing for a long time, and it’s a great idea to give money to charity when you’re gone. There are many different types of charities you can leave money to and each one will use that money to do good. If you’re considering leaving a legacy when you die, here’s how to do it.
Create a will
This is the most important thing you can do. It ensures that your money and your estate go to the right people. Not only will your family be grateful to receive something from you, but it will also take a lot of stress off their shoulders when they don’t have to worry about sorting out your estate and finances.
You will need to list everything you own, decide who it will go to and then find someone to write your will. You will usually need to use a solicitor to write your will and this way you can be sure that your wishes are listened to.
What types of gifts can you leave?
There are several ways to leave gifts when you die. These can be the following:
● A share of your estate. Once your loved ones have received from your estate, you can give what remains to charity. This is called a residuary gift.
● A cash gift. You can choose to leave a specified amount of money as a gift. This is called a pecuniary gift.
● A specific gift. You can leave anything you want to charity. From antique jewellery to cars.
● A gift in trust. You can leave a gift for someone to use over a period of time. When the time has ended, the gift can be passed on to other recipients, such as a charity.
If you need a funeral director to help you plan your funeral, Normington & Sons are here to help. We have years of experience in funeral planning and we will make sure your wishes are followed. Whether you want to choose a coffin or talk to us about
funeral pricing and funeral finances,
get in touch with us today to learn more.
