After you’ve made provisions in your Will for loved ones, you may wish to also leave a gift to the ED Society.
It’s a little-known fact that most charities wouldn’t survive without gifts in Wills. By remembering your favourite charities in this way, you’re ensuring that their good work lives on.
No matter how big or small a donation, any sum is extremely appreciated.
If you want to leave a gift to the ED Society, but have already made a Will, it’s not a problem. There are a couple of simple ways you can change it.
- A new Will – probably the simplest way is to write a new Will or
- a codicil – which is a document used to change a Will that has already been made.
Types of legacy
Legacies can be separated into three categories:
- A fixed sum of money (Pecuniary) – this may seem like a simple option but bear in mind that the effects of inflation could mean that the true value of this gift could become less than you intended. To plan for this, either update your Will regularly or link your legacy amount with inflation.
- A percentage of the net value of the estate (Residuary) – a residuary legacy means you can leave a set proportion of your estate to a cause close to your heart after other beneficiaries are taken care of.
- Individual possessions (Specific) – this could be anything, but typically land, property or shares.
- If you’re not sure about what kind of gift you would like to give, talk to your solicitor who will be able to advise you further.
As well as helping a good cause, legacies also have financial benefits for your family and friends.
If you leave a gift to the ED Society in your Will, its value will be deducted from your estate before inheritance tax (IHT) is worked out. In some cases, leaving a legacy may help bring the total value of your estate below the tax threshold.
As you can see Wills are important to you and your family’s future. They are also important to the ED Society, because a legacy can make a real difference to our future enabling us to offer many individuals and families help and support to help them live a near normal lifestyle.
If you decide to leave a legacy to the ED Society, it would be greatly appreciated if you could let us know. This will enable us to thank you properly and keep you informed of how gifts left as legacies are helping our vital work.
All information will be treated with the strictest confidence and at no time are you under commitment or obligation.
Donations in lieu of Flowers
It may be the desire of your loved one or friend to receive donations in lieu of flowers at their funeral and for the donations to be sent to the ED Society. We have Gift Aid envelopes which we can send you that will increase the monies donated by 25%. For more information and help please email us.