A Charity In Your Name
Many of us wish to benefit Charity and leaving a legacy in a will to a Charity or Charities is an excellent way to support the Charitable sector. Furthermore, if your estate is potentially liable to Inheritance tax, a gift to Charity is not only tax free but in certain circumstances can also reduce the inheritance tax otherwise payable.
Of course, there are an enormous number of Charities available to support and it is not always easy to choose from so many deserving causes. Indeed, in view of the plethora of Charities to support it is not surprising that the largest national charities need to expend a good deal of resources in marketing themselves in order as to promote their cause.
There is an option open to the individual, however, to not only retain control over gifts to Charity but also to allow your name to live on by setting up a Charity in your own name.
Dependent on the monies that are available to you to leave to a Charitable fund, there are two main options open to you to create a personal Charity.
One simple option is to create a Trust via the Charitable Aid Foundation Scheme. Alternatively, the introduction of Charitable Incorporated Organisations in 2014 means that a Charity in your chosen name can be registered with the Charity Commission.
At Solomons Solicitors, we have a good deal of experience in advising and assisting clients in setting up Charities which primarily benefit charitable causes important to them. Please contact us on 01202 802 807 to book an initial no obligation consultation at either our Bournemouth or Christchurch office, or send us a message using our enquiry form on any page of our website.