How can gifts in Wills reduce inheritance tax?
Not everyone knows this but including charitable gifts in your Will could decrease the amount of inheritance tax paid on your estate!
Firstly, all charitable gifts are exempt from inheritance tax.
Secondly, if you give 10 percent or more of your estate to charity, your inheritance tax rate drops from 40 percent to 36 percent for your entire estate.
Brilliant news not only for your loved ones, but also for the important causes you will be supporting!
If you need help writing or updating your Will, you can search for local solicitors and Will writers here.