Legacies and Bequests to the Trust

The Trust continually wishes it could be more generous in the support it gives for renovation and repair. Legacies or bequests can provide the Trust with an important increase in its income

The subject of writing one’s will is always a delicate one, but if you are contemplating making a will (or revising your present one) the following information could be of interest to you.

If your estate is taxable, the taxable portion will generally bear inheritance tax at 40%. Gifts to charities are not taxable so the whole of the amount that you leave to a charity will benefit the charity.

In addition, it is possible for a taxable estate to qualify for a lower rate of inheritance tax if the amount donated to charity is at least 10% of the value of the taxable estate but after adding back the amount of the charitable gift. The rules are complicated and professional advice should be taken if you want to benefit from this provision.

If you choose to leave the Trust a specific sum of money, a suitable form of wording in your will would be, ‘I bequeath to the Hampshire and the Islands Historic Churches Trust, registered charity 1181370, c/o Pastoral Centre St Peter’s Church Jewry Street Winchester SO23 8RY, the sum of £x.’ Alternatively you can name the Trust as a beneficiary of a life insurance policy without making any change to the policy itself.

We always hope that there will be a considerable gap between the date of a will and the date of death, and of course we do not expect to be informed of anyone’s intentions, but bequests for the Trust’s work give us great hope that future generations will be able to enjoy, as we have enjoyed, Hampshire and its associated Islands’ architectural and ecclesiastical heritage, without which their world would be a poorer place.

The above information is believed by the Trust to be correct at the time of going to print but you are recommended to take professional advice when preparing your will or undertaking any tax planning.