Ep 522 - Wills, Charitable gifts & Marriage - the IHT benefits & pitfalls
The Money To The Masses Podcast
Damien Fahy
4.8 • 589 Ratings
🗓️ 5 October 2025
⏱️ 25 minutes
🧾️ Download transcript
Summary
In this week's episode, Damien explains how leaving a gift to charity in your will can significantly reduce your inheritance tax (IHT) bill. He breaks down the rules and explores the most effective ways to structure your donation.
Next, he reveals a little-known legal trap that affects anyone who gets married and could result in your estate being distributed according to the rules of intestacy.
With October being 'Free Wills Month', it's a good opportunity to consider your estate planning. Eligibility is for those aged 55 and over. For those who don't qualify, Money to the Masses has an offer where you can save 20% when you complete your will with Farewill*. Farewill is rated 4.9 out of 5.0 on independent customer review site Trustpilot (from over 18,000 reviews).
Check out this week's podcast article on the Money to the Masses website to see the full list of resources from this week's show.
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Links referred to in the podcast:
- Get 20% off of an Online Will with Farewill*
- Find out about 'Free Will's month
- What happens if you die without a Will? - Rule of Intestacy explained
- Check out our AI Guidance Tool - Damoney
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Transcript
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| 0:00.0 | Hello and welcome to episode 522 of the Money to the Masses podcast with your resident expert as |
| 0:05.3 | always, Damien Faye and me and Elix. Damien, welcome back. How are you doing? Good. And it was great |
| 0:11.4 | to see the response we had to last week's show about my 50K portfolio, which has in fact doubled in |
| 0:17.3 | value now. So it happened this week where I've got the 100% profit margin, |
| 0:22.3 | which is a great achievement I'm really proud of. And I think one or two people, if you look |
| 0:26.4 | at the comments on YouTube, missed the point where they were saying, well, why wouldn't I just |
| 0:30.1 | invest in a 100% index tracker? Well, as I pointed out on there, that would be like comparing |
| 0:36.7 | somebody who traveled, planned a journey from one place to another, and then in hindsight, say, well, why didn't you drive 100 mile an hour along the entire thing? |
| 0:44.4 | It's comparing apples with pairs because it's about managing risks. |
| 0:49.5 | So my portfolio only had about 60% equity. |
| 0:53.0 | Typically, if I decided to invest in 100% equity, then I would |
| 0:57.3 | have had a very different outcome and a much greater return over that period because I would |
| 1:03.5 | have used the process to pick a portfolio that was 100% equity. But I only mention it in case |
| 1:08.4 | people didn't read the comments, but it was interesting to have the conversation nonetheless. |
| 1:11.9 | And I mention it because I want people to understand risk management. |
| 1:15.5 | That's an important part of investing. |
| 1:18.7 | Because if you are just investing without any end date, |
| 1:22.1 | then you might be just going for growth and you don't mind volatility. |
| 1:25.5 | But you just don't know for most people when they are |
| 1:29.0 | going to want to access their money, therefore managing the volatility of a portfolio is important |
| 1:35.2 | because you want to be able to have the choice to withdraw money at a certain point. But the other |
| 1:41.1 | thing I want to mention is the fact that I'm ecstatic about the comments we've been getting on Spotify. |
... |
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