A legacy gift in your Will can help us continue to be a home for the Welsh community in London for generations to come.
We are proud of the role the Centre has had in people’s lives since the 1930’s, and we want to continue to be a place of happy memories.
Please consider supporting us by remembering The London Welsh Centre in your Will.
A gift in your Will, no matter how large or small, makes a real difference to the future of the Centre.
It is very simple to include a legacy in your Will, and there are four different types:
- A Residuary Legacy; the whole, or a percentage of what remains of your estate after all other gifts and expenses have been paid.
- A Pecuniary Legacy; a gift of a fixed amount of money. The value of this legacy may fall through the effects of inflation, therefore it could be worthwhile requesting that it be linked to inflation in order for it to retain its value over the years.
- A Specific Legacy; a specific gift of assets such as property, stocks and shares, works of art, etc.
- A Reversionary Legacy; an excellent way to provide for your family first. This gift allows you to leave the whole or part of your estate to a loved one for use during their lifetime, and afterwards it will revert to to your chosen charity.
WRITING A LEGACY INTO YOUR WILL
Please find below some examples of how you could word your gift in your Will:
If you choose to leave a gift for The London Welsh Centres general purposes the charity will use your gift where it is needed most. If you want to make a straightforward gift of a fixed amount, please find below some suggested wording for your professional adviser to use:
‘I give to The London Welsh Centre, Registered Charity Number 232672, to be applied for the general purposes of The London Welsh Centre the sum of (amount in figures, amount in words) and I direct that the receipt of a proper officer for the time being of The London Welsh Centre shall be a complete discharge to my Executors.’
Many people choose not to leave a stated sum of money to charity, but rather to leave a share of the residue of their estate. In this case, your professional adviser may find the following wording helpful:
“I give all/a share of (please state fraction/percentage) the residue of my estate absolutely to The London Welsh Centre, Registered Charity Number 232672, to be applied for the general purposes of The London Welsh Centre and I direct that the receipt of a proper officer for the time being of The London Welsh Centre shall be a complete discharge to my Executors.”
ADDING A LEGACY INTO AN EXISTING WILL
If you have already made your Will but decide to include The London Welsh Centre, you may wish to add a Codicil, which is a separate legal document that makes changes or additions to an existing Will.
To do this, please download our Codicil, and take it to your solicitor. We do advise consulting with your solicitor or legal advisor before completing this codicil form. Please do not write on or amend your current Will, or it could be invalid.
REDUCING YOUR INHERITANCE TAX BILL BY GIVING TO CHARITY
A legacy gift to The London Welsh Centre could help reduce inheritance tax on your estate (what you own when you die). Your estate includes your house, stocks, shares, pensions and insurance.
The threshold for inheritance tax is currently £325,000 per individual (January 2011). Therefore if your estate is above the threshold the excess amount will be taxed by 40%. However, any money donated to a registered UK charity will not be taxed. Legacies will be deducted from the total sum of your estate before inheritance tax is applied.
There are tax implications in leaving the residue of your estate between charitable and non-charitable beneficiaries; for further information please consult a professional adviser.
In addition to this, if you leave at least 10% of your estate to a charitable cause, you will be able to take advantage of a reduced rate of Inheritance tax, from its current level of 40% down to 36%. Visit the Legacy 10 website for more information.
For all further information on leaving a legacy to charity, or on Inheritance tax, please visit the HM Revenue & Customs website.
The London Welsh Centre encourages everyone who plans to make a gift in their Will to let us know of their intentions, so we have the opportunity to thank and recognise your support during your lifetime.
If you would like more information about our charity or you would like us to send you a copy of our annual review and/or more information about the Centre, please don’t hesitate to contact Richard Saunders on 020 7837 3722, or email firstname.lastname@example.org.