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Leaving a legacy: Making charitable gifts in your will

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'Legacy Giving' isn't a subject that's widely associated with the charity sector. Only 5% of people are estimated to donate to charity through their will, yet this percentage equals £2 billion per year going out to various charities. How much more would churches and charities benefit if legacy giving was more widely promoted? 

This paper looks at the biblical and ethical considerations that may shape a decision to leave a legacy for a church or charity, the practical and legal matters to consider when drawing up a will, and the tax-planning opportunities afforded by making one or more gifts to charity in a will.

Topics included:

  • Biblical and ethical considerations:
    • family or church as beneficiary?
    • keeping a will under review as priorities change;
    • What difference a legacy might make;
  • Practical and legal considerations:
    • Writing a will and making changes to it;
    • Beware the legal pitfalls:
  • Tax considerations:
    • Legacies and inheritance tax;
    • The inheritance tax charities' exemption;
    • The extended charities' relief;
    • Will your estate qualify for a lower inheritance tax rate?
    • Deeds of variation;
    • A word about lifetime gifts;
    • A note about capital gains tax;
  • Promoting legacy giving
  • Stewardship legacy giving account
  • Inheritance tax - nil rate bands
  • Appendix 2: Stewardship legacy giving account