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inheritence and charities

(11 Posts)
MrsNurse Thu 06-Aug-15 09:52:05

After losing my mum and sister recently to cancer I've decided to leave some money in my Will to macmillian, I'm wondering what people's views are on then recent case in the press about Inheritances? I love my children to bits so this would never affect me I wouldn't think

specialsubject Thu 06-Aug-15 12:48:09

it could. And there are big queries about Macmillan. Not the excellent nurses, but where all that funding actually goes.

leave instructions in your will that beneficiaries should consider a charity donation in your memory. Do not leave a formal donation, and absolutely NOT a fixed sum.

Gfplux Mon 10-Aug-15 17:17:00

It's your money and you should do with it what you wish.
However why not discuss the amounts with your family.
Special subject has said not to leave a specific amount. I have heard that leaving a specific amount to a charity is the very best way. I have read that Charity's have in the past delayed an estate being finalised as they were keen to maximise the total of the estate so by increasing the value of the % left to the charity.

Gfplux Mon 10-Aug-15 17:40:23

This is a thread from the Motley Fool on this issue from last year.

gonegrey56 Mon 10-Aug-15 17:50:02

Maybe you would like to consider a donation to a small local cancer charity, one without the overheads of a big name one. I used to be Chairman of our local cancer charity , run entirely by volunteers, and every penny raised went to the charity. We benefitted so much from a small legacy from individuals who had been supported by the charity, and remembered us in wills later. What did complicate matters was when for example someone left us 25 percent of the value of their property ( and the remaining 75 percent to go to big named charities) - the big charities let the properties remain on the market for years sometimes while they held out for unrealistic selling prices .
Or is there a local hospice that helped care for your mother and sister and you could leave a sum to them in memory of your loved ones?
Your kindness and generosity is touching and I am so sorry that you have lost both a mother and sister.

specialsubject Mon 10-Aug-15 22:23:10

if you leave a fixed sum, and there isn't enough to pay it - the charity may have higher priority than your family.

only leave a fixed sum if it is a trivial amount.

Lightbulbon Mon 10-Aug-15 22:36:10

Avoid big name charities that will use their legal teams to cause your family a whole lot of stress when they really don't need it.

AnneEyhtMeyer Mon 10-Aug-15 22:38:41

Please do not leave a percentage of the estate to a charity.

My great aunt left a percentage to a charity (not even a large charity, they are all the same) and they insisted that everything was sent to auction. We were not even allowed to purchase family jewellery from the estate, taking it as the family share of the estate, the charity insisted that absolutely everything, without exception, had to go to auction.

They were totally ruthless and vile. Just what you need when dealing with the death of a loved one.

Charities employ legal teams just to get the most out of every estate.

If you must leave something in your will to charity then I urge you to leave a fixed amount. The bullying and ruthlessness encountered when dealing with an estate where a percentage was left has made me reluctant to ever give money to charity again.

reddaisy Mon 10-Aug-15 22:42:01

I would make my will absolutely clear - x amount and I would discuss it with my DC in advance to ensure there are no surprises. Charities do such amazing work that I am sure money left to them, on the whole, makes a huge difference.

measles64 Mon 10-Aug-15 22:44:47

We were trustees of an Aunts estate. She left everything to cancer research. We had to do all the work. When the bungalow did not sell due to the recession, they got very nasty with us. We spoke to the agent and said should we reduce it he said it would not make any difference. It eventually went for a stupidly low price. The new owner put in double glazing, new kitchen and doubled their money in six months when it sold again. We also had to organise the auction of every item she owned. I did steal a photograph of her out of a box of pictures which also had to go to auction. I will not leave a penny in my will, preferring to give when I am living.

lunar1 Mon 10-Aug-15 22:49:53

I wouldn't, a relative left a percentage an it was hell on earth sorting out the estate. Sentimental items with no real value were all included, the charity made a sad situation 100 x worse by their actions.

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