Steve Pitts, a partner at Thursfields
LLP, the Worcestershire-based solicitors, discusses this important aspect of future planning.
This article is being updated to reflect changes in tax legislation.
Providing for your loved ones is the most important thing to consider when writing a Will and undertaking IHT planning; however, once they have been considered you may wish to leave a gift in your Will to support the work of the Severn Valley Railway. One way of doing this is to include a residuary legacy to the Severn Valley Railway Charitable Trust. As can be seen from the examples, as above, the effect of such a charitable gift to the SVR CT can be substantial whilst still leaving a considerable amount to your family.