Leave a Legacy
…It’s less effort than a marathon!
Cavendish relies on the generosity of supporters to keep us going. We love crazy fundraisers and big events, but gifts left in Wills provide an invaluable sense of stability: they are foundations we can build on. Leaving a legacy gift is an easy process, which can help secure the future of the charity as well as ensure that you will have a positive impact on the community for decades to come.
Cavendish Cancer Care recognises that your first priority in making a Will is to make sure your wishes are properly understood in the event of your death. After you have made provision for your family and loved ones you may decide you wish to leave a donation to Cavendish Cancer Care.
There are two main ways to leave a charitable gift in your will.
Leave a percentage of your estate
A residuary bequest is when a person leaves a percentage of their estate to Cavendish Cancer Care. This means that however much your estate is worth, you’ll ensure your loved ones are looked after as well as helping look after another worthy cause.
It also means that, no matter how your circumstances change, you won’t have to keep altering your Will.
Leave a specific sum
A pecuniary bequest is a set sum of money that you leave behind. However, we’d always advise you to consult your solicitor on what is the best option for your individual circumstances before committing to this.
Why should I make a Will?
- Taking care of what matters
Making a Will is one of the most important things you can do in life to ensure that your wishes will be understood and acted on after death and your friends and family will be looked after. You might make or amend a Will in a time of change, such as marriage, the birth of a child, or even the adoption of a pet. This is because a Will ensures that what matters to you is properly taken care of in the event of your passing.
A properly written Will ensures that you do not pay unnecessary amounts of tax to the government. Your solicitor can advise you on how to make charitable donations that will help avoid paying too much tax. If you should die without making a Will then your estate will be intestate which means your wishes may not be carried out as you wish. Read more information on the implications of intestacy. Each individual’s tax situation is different, so we’d recommend consulting with your solicitor when making changes to your Will. If the total value of your estate is above the threshold set for the current tax year, your beneficiaries will have to pay 40% inheritance tax on the amount over this value. Recent reforms allow married couples and civil partners to combine their tax allowances. This does not double the tax allowance, but it does allow couples to maximise their individual thresholds for the tax year of their death.
PLEASE DO NOT RELY ON THE ABOVE INFORMATION – ALWAYS CONSULT A QUALIFIED SOLICITOR WHEN MAKING YOUR WILL AND REFER TO THE HMRC FOR THE MOST UP TO DATE INFORMATION. http://www.hmrc.gov.uk/cto/iht.htm
Cavendish Cancer Care recommends everyone consult a legal professional to write a new will or change an existing one.