The most important decision when making or updating your will is who you grant your estate to. An option which is often overlooked is a charitable organisation. After you have provided for your family within your will, the gifts you make to your favourite charity may be as much or as little as you want.
Some people make gifts under their will to a charity because they strongly believe in the cause or work of a particular charity or it has assisted them or their family through a tough time. It is important to remember that many of your favourite charities would struggle without donations, as government assistance is usually inadequate.
If this is an option that you are interested in, here’s a list of steps you could follow:
1. Choose your favourite charities.
2. Decide on the type of gift. For example, you may wish to give the remainder of your estate or a particular asset to a charity.
3. Talk it over with your family. Let them know of your decision and that they will not be disadvantaged by it.
4. Ask us about it. Let us know of the charities you wish to support and we can discuss the types of gifts that best suit you and your circumstances.
If you require any information or assistance in drafting or updating your will, please contact our team of lawyers at The Quinn Group on (02) 9223 9166 or submit an online enquiry form today.
