The tax advantages of leaving money to charity in your will

If your estate is large enough when you die, inheritance tax will be due on the money and assets you leave behind for your loved ones, but you can reduce the size of the bill by leaving a slice of your wealth to charity. In this episode, Which? Money deputy editor Sam Richardson explains how nominating a charity to receive a portion of your estate can achieve three things: reduce your inheritance tax bill, help your family retain more of your wealth, and support a good cause with funds it can put to good use. Plus, James Buchan from the Which? legal team tells us why it’s important that you have a will and why it should be kept up to date when a big life event happens. Read more ways to avoid inheritance tax on our website & sign up for our free weekly Money newsletter Get in touch with us via email - [email protected] Podcast listeners can get 50% off an annual Which? membership Become a Which? Money member to access 1-to-1 guidance and receive the Money magazine