We know that your family and friends come first, and we are grateful to all gifts that are left to us. No matter the amount – your gift will help us make a world of difference.
Many people are surprised to learn that gifts of just 1% can still have lasting impact. Meaning the remaining 99% goes to your loved ones.
Gifts such as this are called a residuary gift in a will is the remaining portion of your estate, or a percentage of it, after all debts, taxes and specific gifts have been paid. It’s a flexible way to distribute the remainder of your assets to beneficiaries, and its value can increase or decrease with the value of your overall estate.
- It’s important that you seek independent legal and financial advice when writing or amending your will to ensure your wishes are legally binding. We have a number of financial advisors as members of the 88 Club who may be able to assist you.
- You can remember as many charities as you like in your Will.
- Use specific wording: Provide your solicitor with clear instructions, including the charity’s full legal name and registered details.
St Cuthbert’s Hospice, Durham is registered by the Charity Commission as a Charitable Incorporated Organisation. Registered Office: St Cuthbert’s Hospice, Park House Road, Durham, DH1 3QF. Registered Charity Number: 519767 VAT Number: 997305770
How leaving a gift to St Cuthbert’s Hospice can reduce Inheritance Tax
If the value of your estate is above £325,000, Inheritance Tax may need to be paid when you die. If you fall into this category, you can reduce the rate of inheritance tax by leaving 10% or more of your taxable estate to charity. The rate then drops from 40% to 36%.
Other types of gift in a will
There are 3 main ways to leave a gift in your Will:
1. A share of your estate, for example 1%. This is called a Residuary gift.
2. A specific amount of money, for example £1,000. This is called a Cash gift.
3. A nominated object, for example, an antique, a piece of jewellery or a house. Usually we will sell items like these in order to raise much needed funds. This is called a Specific gift.
Leave a lasting legacy
Gifts of any size really do make such a difference. It’s a special way of continuing to support a charity close to your heart even after you have gone.
Write your Will for Free
We are working with a selection of trusted local solicitors who have kindly agreed to provide a free basic single or mirror Will for our supporters.
