Financial 'complexities' deterring wealthy families from leaving charitable legacies

A survey of high-net-worth families with average wealth exceeding £3m revealed that 42% see legal and financial red tape as the main barrier to charitable estate planning. A further 39% cited a lack of knowledge about non-profit options, while 26% admitted they did not know where to start. The findings come as charitable giving is increasingly being considered alongside inheritance tax (IHT) planning. Donations of at least 10% of a net estate can reduce the IHT rate on the remainder from 40% to 36%. However, one in five of those surveyed were unaware of this benefit. Once informed, 84...