A gift to charity can be made when your Will is drafted, or by adding a codicil to your existing Will.
It is important you speak to a solicitor when drawing up a Will. Good legal advice will ensure your wishes are respected when you die and can help you to minimise the inheritance tax payable on your estate.
There are three types of gift:
RESIDUARY LEGACY: Once all other relevant payments have been made, you leave a percentage of the value of your remaining estate. People often remember a charity through a residuary legacy because the contribution is specified as a percentage of an estate, which means it is more likely to retain its value over time than a pecuniary legacy.
PECUNIARY LEGACY: You leave a fixed amount of money. People often choose a pecuniary legacy if they want family members or other people to receive the bulk of their estate. The effects of inflation can, however, result in the real value of a legacy being less than intended, unless a will is reviewed regularly.
SPECIFIC LEGACY: This is a gift of specific items like personal possessions, land, buildings, or investments such as shares or money in a specified bank account.
Should you wish to leave a legacy, we are:
Friends of Michael Sobell House, a company limited by guarantee number 3677413 and registered charity number 1079638.