You can also ensure that you are the one to decide what will happen to everything you own and, by appointing an Executor in your Will, choose the person who will ensure that your wishes are carried out. Making a Will is simply another way of expressing your love for family and friends, and also provides a way to help good causes, which you have supported during your lifetimes. Not only can a Legacy reduce Inheritance Tax liability, as can be seen over, it is also a wonderful opportunity to help others.
Many people leave the residue of their estate to a charity.
This is to say the sum that is left after all other legacies and costs have been paid. If you feel that this kind of legacy is right for your particular needs your solicitor will be able to tell you how to include it in your Will. A cash sum of any size may be specified to one or more of your favourite charities. All gifts to charity are free of tax. You would have put 10,000 towards a good cause but it would only have cost your estate 6,000 because it would have saved the remainder in tax.