Although Wills and probate solicitors in North Wales have previously been mainly advising those aged 60 and over about charitable giving, it now seems that younger people are also looking more closely into this.
Leaving gifts to charities in Wills is common practice, but there have been some recent changes in the demographics who have been doing this.
Statistically, young people and those aged 40 to 50 are still less likely to have a Will compared to individuals in the age group of 60 and upwards. However, those in the younger age bracket who do have Wills are more likely to leave a gift to their favourite charity, research from todayswillsandprobate.co.uk has found. It is estimated that up to 34% of people under 60 have added a gift to a charity in their Will, compared to 30% in the older age range.
There are several reasons why younger people are using the advice of their Will writing solicitors in North Wales to add specific gifting clauses in their Wills. One of these is the rise in the knowledge and understanding that many charities rely on these legacies to continue their work. There is also increased understanding of inheritance tax. It is also understood that those who have left a gift know that the amount does not have to be large and, even a smaller donation can make a difference.
Speak to us today at Bennett Smith Solicitors and seek our advice about making your Will and the opportunities for charitable giving.
