Ensure your legacy lives on by leaving a tax-free gift to The Primrose Foundation in your Will.
Every gift we receive helps to support patients and their families living locally who are sadly affected by breast disease. Every year, there are over 550 new diagnoses of breast cancer being treated at The Primrose Breast Care Centre and your gift will help support those coming through these services.
Leaving a gift in your Will is a gift that keeps giving. The power of one gift can make a huge difference whether you donate a specific amount, an item or leave a percentage of your estate to us.
Why make a Will?
The Citizens Advice Bureau advises it is important for you to make a Will because:
If you die without a Will, there are certain rules which dictate how the money, property or possessions should be allocated. This may not be the way that you would have wished your money and possessions to be distributed.
Unmarried partners and partners who have not registered a civil partnership cannot inherit from each other unless there is a Will, so the death of one partner may create serious financial problems for the remaining partner.
If you have children, you will need to make a Will so that arrangements for the children can be made if either one or both parents die.
It may be possible to reduce the amount of tax payable on the inheritance if advice is taken in advance and a Will is made.
If your circumstances have changed, it is important that you make a Will to ensure that your money and possessions are distributed according to your wishes. For example, if you have separated and your ex-partner now lives with someone else, you may want to change your Will. If you are married or enter a registered civil partnership, this will make any previous Will you have made invalid.
If you are in any doubt as to whether you should make a Will, you should consult a solicitor.
Leaving a legacy to The Primrose Foundation
Legacy gifting makes a huge difference to our charity, the kind gesture of remembering us in your Will means that we can continue to help and support all those living locally who are affected by breast cancer.
There are two main tax benefits to leaving a gift to a charity within your Will:
All gifts left to UK-registered charities are exempt from inheritance tax (IHT) so will reduce the overall value of your estate for tax purposes; and
If at least 10% of the value of the entire estate is left to a UK-registered charity, then the whole estate and the beneficiaries will benefit from a reduced tax rate of 36%, from the usual 40% inheritance tax rate applied over the nil rate band of £325,000.
Helpful tips
There are three ways you can leave a gift in your Will, these are.
Gift of Money
If you decide to leave The Primrose Foundation a specific sum of money, please let your solicitor know you want to make a ‘pecuniary bequest’. To ensure your gift is maintained over time, it is advisable to link your gift to the Retail Price Index (RPI).
If you would like to leave us a cash legacy, you can use the following wording: -
“I bequeath to The Primrose Foundation, registered charity number 1064277, The Primrose Breast Care Centre, University Hospitals Plymouth, Plymouth, PL6 8DH, the sum of £_____ to be applied to the general purposes of the said charity. The receipt of the Secretary or other authorised officer of said charity shall be sufficient to discharge to my Executors.”
Gift of Specific Legacy
Some supporters choose to leave us specific items, such as property, shares, or jewellery. This is what is known as a ‘specific legacy’.
If you would like to leave us a specific legacy, you can use the following wording:
“I bequeath to The Primrose Foundation, registered charity number 1064277, The Primrose Breast Care Centre, University Hospitals Plymouth, Plymouth, PL6 8DH, my [short description of the property given] to be applied to the general purposes of the said charity. The receipt of the Secretary or other authorised officer of said charity shall be sufficient to my Executors.”
Gift of Residuary Estate
We understand that family comes first for most people. Leaving a residuary estate legacy to The Primrose Foundation means that after making provision for your loved ones, the remainder of your estate can be left to our charity, either alone or in combination with other organisations.
If you would like to leave us a residual legacy, you can use the following wording:
“I bequeath to The Primrose Foundation, registered charity number 1064277, The Primrose Breast Care Centre, University Hospitals Plymouth, Plymouth, PL6 8DH, the whole [or %] of my residuary estate to be applied to the general purposes of the said charity. The receipt of the Secretary or other authorised officer of said charity shall be sufficient to discharge to my Executors.”
Please note, that we recommend that you take independent legal advice and consult a lawyer before drafting any Will and leaving us a gift. This document is for information purposes only.
Thank you for taking the time to read this information. If you would like more information on legacy gifting, please get in touch with your lawyer, or contact us to advise us of your plan to remember us in your Will at info@primrosefoundation.org or call a member of the fundraising team on (01752) 975217.