Expert issues free will writing advice

A professional will writing expert has spoken out about the government's plan to reduce the inheritance tax burden on people who gift at least ten per cent of their estate to charitable organisations.

Jacqueline Almond, a partner at a solicitors, said that people who want to benefit from this must ensure that they proceed carefully when making a will, Citywire.co.uk reported.

Ms Almond said that those thinking of making a will should regularly review their estates if they want to benefit from this.

"...Changes in the value of assets will be relevant if a fixed legacy to charity has been made or if assets change their form and become exempt from IHT [inheritance tax]," she said.

In addition, she pointed out that the nil band rate available on death could be reduced by lifetime gifts.

Furthermore, Richard Kent of HM Revenue and Customs last month told the Stimulating Philanthropy conference that the government's proposals could result in individuals leaving less to charity than they originally planned to, as ten per cent could be the most cost effective sum to gift.