The UK’s largest children’s charity, Barnardo’s, depends on legacy gifts for up to half of their voluntary income, which goes directly towards funding vital support services for vulnerable children and young people.
This October, Barnardo’s are encouraging those aged 55 and over to consider leaving a gift in their Will and to take advantage of having a professionally drafted Will by QualitySolicitors Jordans at no cost.
Everybody has what is called a nil rate band of £325,000 which can be given away tax-free when we die. This amount can also be transferred from one spouse to another on the second death if it was not used upon the first death, effectively meaning that a married couple can leave behind £650,000 before paying Inheritance Tax (IHT).
