Leaving a lasting impact on the causes you care about is a powerful way to continue supporting them even after you’re gone. One effective method of doing so is by leaving a gift in your will. However, there are numerous misconceptions and myths surrounding this topic that might discourage people from considering it as a viable option. In this blog post, we aim to debunk 10 common myths about leaving a gift in your will. By dispelling these misconceptions, we hope to inspire you to explore this meaningful and impactful way of supporting the causes you hold dear.
1 Myth: “I’m not wealthy enough to leave a gift in my will.” Reality: Leaving a gift in your will is not exclusive to the wealthy. Every gift, regardless of its size, makes a difference. Charities appreciate any contribution, big or small, and even a modest gift can have a significant impact on their work.
2. Myth: “My loved ones will be left with nothing if I leave a gift to charity.” Reality: You have the freedom to decide how to distribute your assets. By working with a professional, you can ensure that your loved ones are adequately taken care of while also including a charitable gift. There are various options available, such as leaving a percentage of your estate or specific assets to both loved ones and charities.
3. Myth: “Leaving a gift in my will is too complicated.” Reality: While it’s essential to consult with a legal professional or solicitor when preparing your will, the process is generally straightforward. They will guide you through the necessary steps and ensure that your wishes are accurately documented. Charities can often provide guidance and resources as well.
4. Myth: “My family will object to my decision.” Reality: Openly discussing your intentions and the reasons behind them can help address any concerns your family may have. Sharing your passion for the causes you support and explaining why you believe in leaving a gift can foster understanding and acceptance.
5. Myth: “I can only leave money in my will.” Reality: Leaving a gift in your will doesn’t have to be limited to monetary donations. You can also leave assets like property, stocks, or personal belongings to a charitable cause. This flexibility allows you to choose a method that aligns with both your philanthropic goals and personal circumstances.
6. Myth: “My will can’t be changed once it’s written.” Reality: Wills are not set in stone. They can be updated and amended as circumstances change throughout your life. Reviewing your will periodically ensures that your wishes are up to date and accurately reflect your current intentions.
7. Myth: “I have to inform the charity now if I want to leave a gift in my will.” Reality: You don’t have to notify the charity immediately. While it’s helpful for charities to know about potential future gifts, you can choose to keep this information private until you’re ready to disclose it. Feel free to include a clause in your will expressing your intention to support the charity without specifying the amount or type of gift.
8. Myth: “Only large charities benefit from gifts in wills.” Reality: Charities of all sizes benefit from gifts in wills. Small and local organisations greatly appreciate the support, as these gifts can significantly contribute to their work and help them sustain their programs.
9. Myth: “I can only leave a gift in my will to one charity.” Reality: Your will can include multiple charitable beneficiaries. If you have multiple causes you care about, you can allocate different portions of your estate to support each one. You can also specify whether you’d like your gift to be unrestricted or directed toward a specific project.
10. Myth: “Leaving a gift in my will won’t make a significant impact.” Reality: Charitable gifts in wills have transformed countless lives and enabled charities to continue their vital work. Your gift, no matter the size, can create a lasting legacy and contribute to positive change, ensuring that the causes you cherish continue to thrive.
Leaving a gift in your will is a powerful way to create a lasting impact and support the causes you hold dear. By dispelling these common myths, we hope to encourage you to consider this philanthropic option. Whether you are wealthy or not, it’s important to remember that every gift matters. With the guidance of legal professionals and open communication with loved ones, you can ensure that your wishes are fulfilled while leaving a lasting legacy of compassion and generosity.
Make an online will
Through Make a Will Online you can make a solicitor checked will for free in the safety and convenience of your own home. Go to www.makeawillonline.co.uk/sussexcancerfund. When you leave a gift in your will using this service we are given information on the gifts left. You can also choose to share your name with us. This data is extremely helpful for us.