Death & Taxes

I don’t hear it much anymore, but it was colloquial for a long time – the only two certainties in life, being death and taxes. Both of which we still try to avoid.

We try to avoid one by hiring great accountants and we try to avoid the other by not talking about it…

The internet tells me that I am not alone when it comes to talking about death. It can be quite the scary and uncomfortable topic, and somewhat strange to discuss whilst we are still healthy.

There are numerous benefits to openly talking about a time when we will no longer be around, including gaining a greater perspective of life, what we value, what we have achieved and what we still wish to accomplish. It is such an important conversation as we will all die, although we can’t control how or when, we can control what impact we can have after we have died.

One of the greatest impacts we can have post-death, is to leave something to a charitable organisation in our will; a bequest. We are on the verge of the greatest inter-generational transfer of wealth in our history, so it makes sense to allocate some of that to the causes and charities that mean something to us.

It is very easy to do – as you arrange your affairs, mention to your lawyer that you would like to leave a certain amount or a certain percentage to a charity and they will take care of the rest. If you already have a will, you don’t have to re-do the whole thing, you can add a codicil which serves an amendment to your will, recording your wishes to leave a gift from your estate. Again, chat to your lawyer and they will help you out – also your favourite charity may have a copy of the codicil to get you on your way.

A bequest is a simple way to be generous when the terrible happens.