Will Week

Visit_Ing

It is a bit of a piece of string as it depends what else you are having done at the same time and also depends on how complex your affairs are.

purplepatch

What is the general consensus for a reasonable donation to charity?

Pink.

We (Mr Pw and I) both need to get wills done.  It's something we've just never got around to.

I've decided to do it during WillAid month.

I thought that it would be reasonable to find out what will making would cost normally and then pay 50 - 75% of that figure to charity.

That way the both we and the nominated charity stand to gain.

Or am I being mean?  

Should I give 100% to the charity as they are a charitable organisation, and it's a service we would have had to pay for eventually anyway?

Unfortunately I have no idea of the normal cost of making a will.......any rough estimates welcomed.

Pink

MSE_Martin

To give the charitable answer you should of course give 100% if you can afford to.

However there is of course a loophole in the charitable answer.

When you give to charity, if you are a taxpayer then there is gift aid on top, so the charity gets 28% more than you are donating (if you're a higher rate taxpayer then you can also assign through your tax return it to get an even bigger tax boon).

This means if you were to donated 78% of the actual amount you would have paid - the charity gets the full amount but you pay less.

I would say though - if you can't afford to donate at the moment - but need a will, then just do it. You can always remind yourself to make another donation at a later date once you are solvent.

Martin

newkiwi

One point in reply to the people who say 'everything would go to my spouse & vice versa so we don't need to worry about a will':

What happens if you both die in the same car crash, for instance? In my case, our finances would be a real hassle for somebody to sort out (even though it's all in Microsoft Money on my PC) and I think my share would go to my estranged father which I definitely don't want. My husband's share would go to his 72 year old mother who then wouldn't have anybody to leave hers to...

But having said that, I still haven't made a will & my husband hasn't updated his yet since we've been married (and hence doesn't have a valid will either) because making the decisions on what to do if we both die at/around the same time is just too hard.

As part of this, can anybody tell me what happens if we're living in NZ when we die but have assets in the UK? Which country's law holds for the UK assets? I think the intestacy rules are different for each country. I assume if we have valid wills we can just say 'the UK property should be dealt with like this and the NZ like this' and then it doesn't matter where we are?

Thanks
Eli

lisyloo

Another possibility if you really can't afford it now, is to leave the charity some money in your will.

I wouldn't want to discourage anybody from giving to chairty now because that is better, but it's an option if you can't afford it right now.

gord_3

G Cooper says Tesco do a will on-line. Ican't find it on the web site.How much do they charge?

derrick

The "recommended" donations via will aid are £65.for a single will and £95. for a double/mirror will

Joannaclaire

Newkiwi, I have been wondering the same thing lately. ..

I am Australian, have assets in Australia and here in the UK and am an aussie citizen but reside in the UK, but as yet not applied for citizenship. Would inheritance tax be payable here on my Australian assets if I leave them to my husband, or if we moved back to Australia, is it still applicable there on UK assets...

and would the average will- making solicitor know about the law in regards to this?

Smitty

I used the Will Aid website to locate a solicitor (Rothera Dowson) and checked they are taking part in Will Aid Month.

I booked my appointment but the solicitor was very keen to emphasize that it cost £65 + VAT

I went along with it, but I do not intend to pay that much. I have recently paid £40 for an online will, which I am not satisfied with, so this is my chance to get a decent one cheap.

I will still donate some money to charity, so the charities are better off than if I do not participate at all.

I am just concerned they are going to force me to pay £65 + VAT... they can't force me, can they? :-/