Charities chasing legacies In Wills

Mojisola

martindow wrote: »

Maybe it is best to write wills with percentages going to beneficiaries rather than fixed sums?

It can cause a lot of problems if set sums are mentioned - always use percentages because who knows how much money is going to be there when you die.

If you want to allow for the possibility that you win the lottery a couple of days before you die and don't want a massive sum going to a charity (or any other beneficiary), you can use "X% or £Xk whichever is smaller (Edit - changed from "larger")".

Savvy_Sue

Mojisola wrote: »

It can cause a lot of problems if set sums are mentioned - always use percentages because who knows how much money is going to be there when you die.

If you want to allow for the possibility that you win the lottery a couple of days before you die and don't want a massive sum going to a charity (or any other beneficiary), you can use "X% or £Xk whichever is larger".

I suspect that problems can arise either way, so your final suggestion might be a good one.

But it's any perceived delay in establishing the final value for probate which tends to lead to the aggressive legacy chasing, I believe, especially if there's the sale of a house involved.

martindow

Mojisola wrote: »

It can cause a lot of problems if set sums are mentioned - always use percentages because who knows how much money is going to be there when you die.

If you want to allow for the possibility that you win the lottery a couple of days before you die and don't want a massive sum going to a charity (or any other beneficiary), you can use "X% or £Xk whichever is larger".

Shouldn't that be smaller?

Mojisola

martindow wrote: »

Shouldn't that be smaller?

Yes, you're right. Thank you.

whodathunkit

If I leave a some of money to a charity when I die then I hope they do chase it up, particularly if any other beneficiaries are dragging their feet or even trying to cheat the charity out of the legacy.