Many people become quite introspective when they're reaching the end of their days. They may look back on their life and wonder if they did enough for others, and as they ponder, they may decide to do something about it. In this case, they may decide to leave a significant portion of their assets to a certain charity, and while this is very laudable and should be supported, it can present issues following their death. What steps should be taken to ensure that no problems arise and that the relevant money will, in fact, reach the charity?

Careful Approach Required

If you've been thinking along these lines and are about to make modifications to your will, there are certain things to bear in mind before you proceed.

Talk It Through

First and foremost, make sure that this act finds favour with those who would otherwise stand to benefit financially from your estate. This will typically include close relatives, but it is always best to talk it through, just in case one of those individuals should seek to question the will itself. They may feel that they had not been accounted for properly and could contest the allocation, tying up that money or even, ultimately, diverting it away from the charity.

Avoid Ambiguity

If key people are okay with your wishes, then make sure that you leave the correct instructions within the documentation. You should make sure that you use the actual legal name of the charity, as it is registered with the tax authorities, just to be safe. After all, the executor may not be able to read your mind unless you had talked this through with them beforehand and if there is any ambiguity, issues could arise.

Questions First

Furthermore, if you want your money to be used for a specific purpose and not just as a general windfall, then you will need to outline your wishes specifically. It's best if you get in touch with the charity ahead of time, however, to make sure that they can abide with your instructions and what you seek to do is indeed possible.

Best Approach

Don't leave any of this to chance, make sure that you have everything in place and take all the necessary steps when drafting your will. To be sure, get in touch with a lawyer who specialises in this area, so that all the legal aspects are considered.

For more information, contact some wills and estates lawyers.

Share