Why make a will?
Writing a will can help ensure the fulfilment of your religious duties acharind ensuring that your loved ones will be looked after especially if you have minor children. You will be able to choose how your estate is distributed, who will be in charge of administering your estate and assets and in particular how you would like your one third to be allocated.
The Zahra Trust can facilitate arrangements for the qadha prayers or fasts of a deceased person or other religious obligations due such as khums or zakat. You can also arrange sadaqa jaariya which not only helps those in need but also acts as an ongoing charity for you.
There are also certain tax advantages for leaving legacies or gifts to registered charities such as The Zahra Trust. If your estate is worth more than £325,000, the executors of your Will may have to pay inheritance tax at 40%. However, if you leave 10% or more of your net estate to charity, you may then qualify for a reduced rate of inheritance tax (36% instead of 40%). Any legacies or gifts given to charities such as The Zahra Trust will be tax free and not count as part of your nil rate threshold.
If you would like to leave a gift or donation to The Zahra Trust or would like a free confidential consultation in respect of our will writing service, please give us a call on +44 (0) 208 452 7565 or email us at [email protected] where a member of our team will be happy to help.