Wills and charities - the importance of getting it right
Most, if not all of us, would like to think that philanthropy or charitableness is something that we turn our minds to at some point during our lifetime.
Having supported one or more charities during their lifetime, many people wish to see these or other charities benefit from their estates, pursuant to their Wills upon their deaths.
Unfortunately however, the Will-maker’s charitable wishes and intentions are often not properly given effect, which can result in considerable and unnecessary costs being incurred, often at the expense of the estate. In our experience, there are a number of reasons for this, including:
Another fundamental reason for a person’s charitable wishes and intentions not being given proper effect is that the Will-maker did not obtain proper, professional advice and assistance in the estate planning process. This is where an experienced lawyer who specialises in estate planning can, and does, add value.
It makes sense to have your Will done properly by an experienced lawyer, rather than having your Will done as cheaply as possible. Whilst it will understandably come at a cost, the alternative is to risk the estate being eroded by paying costs associated with claims or disputes that arise after the Will-maker’s death. Those subsequent costs invariably outweigh the initial cost associated with getting assistance in preparing the Will from an experienced lawyer.
For more information or discussion, please contact HopgoodGanim Lawyers’ Estates and succession team.