Got a credit card? use our Credit Card & Finance Calculators
Thanks to johnstevens77,Bhoddhisatva,scotia,Anonymous,Cornytiv34, for Donating to support the site
Ideas for leaving my money
-
- Lemon Quarter
- Posts: 2139
- Joined: November 4th, 2016, 12:12 pm
- Has thanked: 1074 times
- Been thanked: 1086 times
Ideas for leaving my money
My wife and I will be updating our wills soon. Very small family, nobody that needs our money or support, all our friends are financial OK, so any suggestions about where to leave our money when we're gone? Would consider overseas (non-Afghanistan) charities, humans not animals.
-
- Lemon Half
- Posts: 8910
- Joined: November 4th, 2016, 9:06 am
- Has thanked: 1309 times
- Been thanked: 3665 times
Re: Ideas for leaving my money
zico wrote:My wife and I will be updating our wills soon. Very small family, nobody that needs our money or support, all our friends are financial OK, so any suggestions about where to leave our money when we're gone? Would consider overseas (non-Afghanistan) charities, humans not animals.
This is a very interesting question and I feel one that is so personal that anyone else's suggestions may not be that valuable.
My one point would be to perhaps consider spending some of the money on charitable causes near to your hearts while you are still alive, that way you get to see the results for yourself and perhaps some of the recipients get to see you too.
John
-
- Lemon Half
- Posts: 6050
- Joined: May 30th, 2021, 6:01 pm
- Has thanked: 1843 times
- Been thanked: 2066 times
Re: Ideas for leaving my money
I going to leave a chunks of mine to the 2 hospitals
that fixed me when I was 5 and 55 years later saved me
that fixed me when I was 5 and 55 years later saved me
-
- Lemon Quarter
- Posts: 4092
- Joined: November 4th, 2016, 9:24 am
- Has thanked: 3234 times
- Been thanked: 2827 times
Re: Ideas for leaving my money
Mainly local charities, though I also have MacMillan as a national exception
--kiloran
--kiloran
-
- Lemon Quarter
- Posts: 2298
- Joined: November 4th, 2016, 4:20 pm
- Has thanked: 1887 times
- Been thanked: 869 times
Re: Ideas for leaving my money
zico wrote:My wife and I will be updating our wills soon. Very small family, nobody that needs our money or support, all our friends are financial OK, so any suggestions about where to leave our money when we're gone? Would consider overseas (non-Afghanistan) charities, humans not animals.
Just the usual reminder that unless you really detest your executors, then don't leave specific percentage amounts to the big charities
-
- Lemon Slice
- Posts: 777
- Joined: November 4th, 2016, 7:18 am
- Has thanked: 211 times
- Been thanked: 491 times
Re: Ideas for leaving my money
My thinking (different from yours perhaps) is that the best way to help humans is to protect the environment. Much human suffering will occur if we don't address climate change, overpopulation, aquifer depletion, insect collapse, soil erosion, general pollution etc. Leaving to environmental causes is the best way to help humans.
Having said that, I have hospices maybe on my list too, having been so impressed with the services they provide when I've had the misfortune to have to deal with them.
Having said that, I have hospices maybe on my list too, having been so impressed with the services they provide when I've had the misfortune to have to deal with them.
-
- Lemon Slice
- Posts: 563
- Joined: October 20th, 2020, 5:08 pm
- Has thanked: 366 times
- Been thanked: 277 times
Re: Ideas for leaving my money
zico wrote:My wife and I will be updating our wills soon. Very small family, nobody that needs our money or support, all our friends are financial OK, so any suggestions about where to leave our money when we're gone? Would consider overseas (non-Afghanistan) charities, humans not animals.
https://www.autism.org.uk/ would be my choice but people usually have personal reasons for favouring a charity. The smaller ones and less visible causes are often most in need of help.
-
- Lemon Quarter
- Posts: 3268
- Joined: November 4th, 2016, 12:17 am
- Has thanked: 3077 times
- Been thanked: 1557 times
Re: Ideas for leaving my money
I think it is a very personal thing, but how refreshing to read a thread on this site which is about giving away money to good causes rather than hanging on to it.
Thanks
C
Thanks
C
-
- Lemon Quarter
- Posts: 3435
- Joined: November 5th, 2016, 8:43 am
- Has thanked: 3805 times
- Been thanked: 1398 times
Re: Ideas for leaving my money
zico wrote:My wife and I will be updating our wills soon. Very small family, nobody that needs our money or support, all our friends are financial OK, so any suggestions about where to leave our money when we're gone? Would consider overseas (non-Afghanistan) charities, humans not animals.
No idea how much you're talking about, but assuming a significant 'pot', could you perhaps set up a trust where the money would be invested and provide an annual grant for some worthy cause. e.g. Help with tuition fees for a worthy student from a poor family, disabled student etc? The annual 'Zico award for....' would ensure a continuing source of income and bring you fame - albeit posthumous.
I believe there are quite a lot of awards and grants that work in this way. I'm thinking of a 'Steve's Malt Whisky appreciation award' myself.
Steve
-
- Lemon Quarter
- Posts: 4811
- Joined: November 4th, 2016, 10:15 am
- Has thanked: 605 times
- Been thanked: 2675 times
Re: Ideas for leaving my money
stevensfo wrote:zico wrote:My wife and I will be updating our wills soon. Very small family, nobody that needs our money or support, all our friends are financial OK, so any suggestions about where to leave our money when we're gone? Would consider overseas (non-Afghanistan) charities, humans not animals.
No idea how much you're talking about, but assuming a significant 'pot', could you perhaps set up a trust where the money would be invested and provide an annual grant for some worthy cause. e.g. Help with tuition fees for a worthy student from a poor family, disabled student etc? The annual 'Zico award for....' would ensure a continuing source of income and bring you fame - albeit posthumous.
I believe there are quite a lot of awards and grants that work in this way. I'm thinking of a 'Steve's Malt Whisky appreciation award' myself.
Steve
It's a nice idea but is increasingly difficult to do with all the requirements the Charity Commission impose on the way charities are set up, run and administered no doubt with the best of intentions.
-
- Lemon Half
- Posts: 5768
- Joined: November 4th, 2016, 11:22 am
- Has thanked: 4097 times
- Been thanked: 2560 times
Re: Ideas for leaving my money
zico wrote:...any suggestions about where to leave our money when we're gone?
Woodlands Trust https://www.woodlandtrust.org.uk/... Population Matters https://populationmatters.org/... The Wildlife Trusts https://www.wildlifetrusts.org/.
Hopefully academic for a long time.....
V8
-
- Lemon Quarter
- Posts: 1554
- Joined: July 25th, 2018, 9:56 am
- Has thanked: 452 times
- Been thanked: 434 times
Re: Ideas for leaving my money
Keith Owen set up a fund benefitting multiple causes in the Sid valley. Administered by the Sid vale association.
-
- The full Lemon
- Posts: 16629
- Joined: October 10th, 2017, 11:33 am
- Has thanked: 4343 times
- Been thanked: 7534 times
Re: Ideas for leaving my money
I am in no doubt that medical charities are the way to go. I am leaving in my Will enough to bring my IHT charge down to 36% on the chargeable amount by doing that. No animals and I am not convinced in the least by some local charity(s) They tend to be run in my experience by the Chairman or his sidekick for his personal interests, and of course he will change. That is my argument to myself anyway about leaving money to the likes of an institutional medical charity such as Diabetes UK and Myeloma UK, two with whom I have a particular interest, but there are many others.
Dod
Dod
-
- Lemon Quarter
- Posts: 2497
- Joined: January 15th, 2017, 9:20 am
- Has thanked: 677 times
- Been thanked: 997 times
Re: Ideas for leaving my money
There are websites that allow you to enter your profile and suggest charities that will give you the biggest bang for your buck. They generall spend money in the third world, for obvious reasons.
-
- Lemon Quarter
- Posts: 2081
- Joined: November 4th, 2016, 11:53 am
- Has thanked: 3203 times
- Been thanked: 417 times
Re: Ideas for leaving my money
Clariman wrote:I think it is a very personal thing, but how refreshing to read a thread on this site which is about giving away money to good causes rather than hanging on to it.
Thanks
C
=====================
i'm hanging on to mine....
-
- Lemon Half
- Posts: 6050
- Joined: May 30th, 2021, 6:01 pm
- Has thanked: 1843 times
- Been thanked: 2066 times
Re: Ideas for leaving my money
jackdaww wrote:i'm hanging on to mine....
As you've worked out how to take it to the "next world"
do let us all know
Re: Ideas for leaving my money
staffordian wrote:Just the usual reminder that unless you really detest your executors, then don't leave specific percentage amounts to the big charities
I’m in the process of writing my will, hoping to leave a fair bit to two small charities. May I ask why you say this?
-
- The full Lemon
- Posts: 18674
- Joined: November 4th, 2016, 3:58 pm
- Has thanked: 628 times
- Been thanked: 6559 times
Re: Ideas for leaving my money
Steffers0 wrote:staffordian wrote:Just the usual reminder that unless you really detest your executors, then don't leave specific percentage amounts to the big charities
I’m in the process of writing my will, hoping to leave a fair bit to two small charities. May I ask why you say this?
He is not suggesting that your will should not have legacies for charities. Only that those be for specific sums rather than percentages of the residue of the estate. Charities can be staggeringly aggressive about pursuing bequests that are percentages of the residue.
-
- Lemon Half
- Posts: 7383
- Joined: February 7th, 2017, 9:36 pm
- Has thanked: 10514 times
- Been thanked: 4659 times
Re: Ideas for leaving my money
zico wrote:My wife and I will be updating our wills soon. Very small family, nobody that needs our money or support, all our friends are financial OK, so any suggestions about where to leave our money when we're gone? Would consider overseas (non-Afghanistan) charities, humans not animals.
Children.
Children.
Children.
Charities for children. Hospitals for children.
Hope that floats your boat
AiY
-
- Lemon Quarter
- Posts: 2298
- Joined: November 4th, 2016, 4:20 pm
- Has thanked: 1887 times
- Been thanked: 869 times
Re: Ideas for leaving my money
Lootman wrote:Steffers0 wrote:staffordian wrote:Just the usual reminder that unless you really detest your executors, then don't leave specific percentage amounts to the big charities
I’m in the process of writing my will, hoping to leave a fair bit to two small charities. May I ask why you say this?
He is not suggesting that your will should not have legacies for charities. Only that those be for specific sums rather than percentages of the residue of the estate. Charities can be staggeringly aggressive about pursuing bequests that are percentages of the residue.
Exactly!
Leaving specific sums can be problematic as the value of the estate will inevitably not be what you might expect, especially if making a will when young, and death is (hopefully!) decades away.
I think a way to overcome this problem - avoiding the need to re-write the will every time you feel the amounts are unrealistic, is to give discretion in your will to the executors but refer to a letter expressing your wishes in terms of which charities you wish to bequeath money to, and the amounts to each. In this way, the vultures working for the large charities are unable to see, following probate, that you might be leaving money to them and they cannot harass to executors.
This thread covers the issues pretty well...
viewtopic.php?f=2&t=20172&start=20
Last edited by staffordian on September 15th, 2021, 11:01 pm, edited 1 time in total.
Who is online
Users browsing this forum: No registered users and 10 guests