We are entirely reliant on the generosity of our supporters, and legacies are essential to our long-term survival. We receive no statutory funding and fundraising and donations alone don’t cover our ongoing running costs. Leaving a legacy can make a huge difference to people living with cancer in your local community – and leaving a ‘charitable legacy’ has tax advantages too.
Making a will ensures that your money and property are distributed according to your wishes.
There are three ways to leave a legacy in your will:
Leaving a legacy to a charity can reduce the tax burden on your estate. Estates valued above a set threshold of eligibility are subject to 40% Inheritance tax. Your executors will need to pay the tax bill before they can distribute your estate.
But if you leave 10% or more of your estate to charity beyond your tax-free allowance, the tax on what remains is reduced to 36% rather than 40%.
To ensure your will is valid please seek appropriate professional advice.
When my mum, Carolynne, was diagnosed with cancer, Cherry Lodge supported her in so many ways. The charity became a real source of comfort and community for her. Before she passed away, mum made it very clear that she wanted to give something back to Cherry Lodge. Including the charity in her will was her … Continued
